India, or Republic of India, is a federal state in South Asia. It is the second-largest country by population after China and the seventh-largest by territory in the world. India has a developing mixed economy, which is the world’s sixth largest in terms of nominal GDP. In India, cryptocurrency payments are becoming more and more popular among its citizens. Currently, the government is developing regulations for operations related to virtual currencies. It is aimed to protect investors and users, prevent money laundering, control the taxation of transactions, etc. Besides that, according to the Indian Minister of Finance, the authorities are concerned about digital currencies’ volatility and anonymity and are considering banning all payments in cryptocurrency. Nevertheless, the future of using cryptocurrency in India remains uncertain.
Despite receiving a lot of flak from regulators, use of crypto is still limited when compared to fiat within the illegal gambling sector.
Crypto Accused of Facilitating Illegal Gambling — What Are the Odds?
Indian IT giant Tech Mahindra is launching a blockchain accelerator together with the government of the southern state of Telangana.
Indian IT Giant Tech Mahindra and Local Gov’t Launch Blockchain Accelerator
India’s citizens will soon be able to cast votes from outside their city of registration thanks to a blockchain-based system.
India’s Citizens Will Vote With Blockchain, Election Commissioner Says
Despite the ongoing uncertainty toward crypto regulation in India, major global crypto exchange OKEx has just made another push in the country’s market.
OKEx Expands Into India’s Crypto Market via Partnership With Local Exchange
Hearings in the Indian Supreme Court have opened a discussion between the crypto space and lawmakers on the tech’s potential in the country.
A Call for Sensible Regulation: The Fate of Future Innovation in India
WRX, the first IEO from any Indian exchange, can strengthen sentiments of Indian crypto industry amid an ongoing battle over the status of crypto.
India’s First IEO Gives Local Community a Much-Needed Breath of Fresh Air
RBI’s legal counsel claims crypto can adversely affect India’s financial stability.
Verdict in India Imminent, RBI Cites Warren Buffet Skepticism as Reason to Ban Crypto