ZebPay teams up with Chainalysis to monitor transactions in India as the firm re-expands services in its home country.
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.
Here are the legal resources available to Indian crypto users and businesses if a bank has declined services out of cryptophobia.2765
Indians are flocking to cryptocurrency due to high remittance fees and the difficulty of exchanging rupees to a more stable currency.3561
India’s largest port operator APSEZ has partnered with IBM’s TradeLens platform to digitize its supply chain process.3495
New funding from CoinFund will help Delta establish a further presence in the Indian market.4274
RBI’s recent response to an information request shows that Indian banks are not prohibited from dealing with cryptocurrency business.4549
The $2.5 million investment in India’s largest crypto exchange comes from Polychain Capital and Coinbase Ventures.18162
Cryptocurrency custodian BitGo will provide its services to Indian exchange CoinDCX, offering secure storage and partial insurance for assets traded on the platform.3809
Agtech startup Agri10x has partnered with the Indian government to boost the income of India’s farmers with the help of its blockchain platform.4845
Regulation is one of the biggest hurdles for crypto in India as exchanges continue the legal battle to establish a clear framework.7357
Indian state government-led blockchain accelerator T-Block partners with Aeternity, Harmony, and Matic Network to ramp up blockchain growth.6756
A new fiat-crypto exchange has launched in India, two months after the country’s stringent ban on banks’ dealings with crypto businesses was lifted.10733
CoinSwitch’s Kuber mobile application aims to increase adoption among crypto users in India.6968
India’s crypto exchanges are demanding that the country’s central bank provide clear guidelines regarding taxation.4330
SSI has built a blockchain app that aims to relieve car drivers and owners from paperwork associated with vehicle maintenance and inspection.4081