In talks with stakeholders, Minister Ashwini Vaishnaw aims to finalize the Indian government’s AI deepfake regulations in the coming weeks.
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.
Listening to the plea, the bench headed by the Chief Justice of India (CJI) remarked that the petitioner’s demands are more legislative in nature.28743
The Narcotics Control Bureau and the Indian Cyber Crime Coordination Centre trained 141 officials and over 2,800 officers in the financial year 2022–2023.3941
Hindustan Petroleum, one of India’s largest oil and gas companies, is launching a blockchain system to enable automated verification of purchase orders.3144
The Group of Twenty accepted the regulatory roadmap proposed in a joint Synthesis Paper of the International Monetary Fund and the Financial Stability Board.3588
With Transak’s integration, CoinDCX’s Okto wallet has increased the number of supported jurisdictions from 60 to more than 150.2235
Mário Centeno praised the European Union’s first comprehensive crypto framework, MiCA, but insisted on further international consolidation of regulatory efforts.7479
Launched in May, the Gemini Gurgaon Hub has since added over 70 staff.2908
The tool will monitor crypto wallets and alert the Indian Ministry of Home Affairs about irregular transactions, according to a report.4226
Numerous initiatives by local and state governments in India — from data management systems to verifiable certificate issuances — currently use blockchain technology.4112
BaFin’s top executive stresses the risks of crypto and calls for global regulation to apply to all financial centers — without exceptions.5714
The legal struggle between the SEC and Binance.US continues, with the company hitting new lows in trading volume.3719
Chainalysis’ upcoming Global Crypto Adoption Index indicates that the broader Asia region is driving grassroots cryptocurrency adoption.6686
Indian crypto platforms could attain similar status as authorized dealers (similar to banks) under the guidelines of the Indian central bank, RBI.8021
The G20 member nations recommended addressing existing concerns around data protection, biases, appropriate human oversight and ethics to ensure the responsible use and development of AI.3939