Realizing Vitalik Buterin’s $1-billion donation in Shiba Inu coins to the COVID-Crypto Relief Fund in India has turned out to be a labyrinthine process for the fund’s creator.
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.
Solana invites students, Web 2.0 and Web 3.0 developers, engineers and anyone who is looking to get into crypto.3240
A new partnership with LegitDoc places India among early adopters to implement an e-governance system for higher education.24800
RBI is looking for ways to test a CBDC while causing little to no disruption for the bank’s status quo.2339
The Directorate of Enforcement issued a show-cause notice to the crypto exchange for allowing clients to transfer cryptocurrencies without following the law of the land.2655
Now valued at $33 billion, Revolut didn’t rule out a potential IPO this year, but the firm's CFO suggested that it was unlikely.3060
India’s Delhi High Court is looking to put a clear voiceover and a disclaimer covering 80% of the screen on crypto ads on national TV.1764
The bank has also asked users not to invest any fiat currency that may have links to previous cryptocurrency investments.5165
Aiming to tackle the supply chain issues that impact the stock and expiry of COVID-19 vaccines, Tech Mahindra and blockchain firm StaTwig will roll out a “VaccineLedger” solution worldwide.2465
India’s crypto exchanges continue to cope with the burden of limited access to banking services.2377
India’s regulatory stance on crypto has been shaky at best and prejudiced at worst, but what is India actually doing about crypto?3568
Unperturbed by persistent threats of a renewed crypto crackdown from lawmakers, Indian investors have piled $5.7 billion into cryptocurrency over the past year.8673
Existing law in India could mandate a 2% levy on cryptocurrency purchases from offshore-based exchanges servicing India’s market.4764
“Crypto exchanges want to be part of IndiaTech because we have moved the needle in the past few months on the narrative and perception of this industry," said Rameesh Kailasam.2765
Authorities in India are reportedly weighing up options concerning crypto regulations in the country.13326