The Bitcoiner had visited eight different countries out of his goal of forty and was in Africa at the time of Cointelegraph’s interview.
India today is no stranger to the concept of Bitcoin (BTC) and cryptocurrency. Home to over 1 billion people, the South Asian country touts a population rivaling that of China. India, officially known as the Republic of India, is the second-largest country by population after China. The industry of cryptocurrency in India today still shows a country that is uncertain about the asset class.
In India, government bodies have discussed the country’s stance on cryptocurrencies for years. Although headlines have mentioned various possible cryptocurrency-related bans and regulatory moves — with people often asking, “Is Bitcoin legal in India?” — the country has yet to officially outlaw crypto on the whole. Companies focused on digital assets could not work with banks for a time, thanks to a 2018 ruling from the Reserve Bank of India, or RBI — the country’s central bank — but those restrictions were removed in 2020.
“One of the reasons it is so successful is because it's simple,” he added while comparing the Unified Payments Interface’s (UPI) growth with blockchain technology.5589
Prada Timecapsule is set to launch on Thursday, Eurovision Winners Kalush Orchestra raised 50 ETH for Ukraine, P2E games see a rise in developing regions, and RTFKT's Loot Pod winners were announced.1706
The document, which could define a national framework for digital assets, is almost ready.1920
Halfway through 2022, at the proof-of-concept stage, RBI is in the process of verifying the feasibility and functionality of launching a CBDC.4395
Developing countries have more than double the amount of people positive that the Metaverse will impact their lives, and they’d use it daily in comparison to developed countries.3639
India’s “blockchain, not crypto” stance has led to disastrous crypto policies, forcing several thriving crypto firms to relocate.2621
Crypto “will seriously undermine the RBI’s capacity to determine monetary policy and regulate the monetary system of the country,” according to Reserve Bank of India officials.3155
“I guess we have a concern that [the Reserve Bank of India] may be actually in violation of the Supreme Court ruling,” said Coinbase CEO Brian Armstrong.2754
In the future, India’s NDSL and the Securities Board division will welcome other entities to join the decentralized network.1758
The new directives for VPN service providers and crypto exchanges would require them to collect critical private information as well as the ownership patterns of customers.3852
Binance also highlighted that Indian regulators and policymakers cite the lack of education as an area of concern, hindering crypto’s widespread adoption in the region.5266
Several Indian cryptocurrency projects are planning to move their bases to more crypto-friendly jurisdictions.4120
India is yet to finalize a crypto regulatory framework despite assurances of a speedy draft law over the past few years.2097
The latest funding round doubled CoinDCX’s valuation to $2.15 billion, making it the most-valued crypto company in India.1888