Indian Government News

Former finance secretary of India Subhash Garg clarified that “it is misleading to say that private cryptocurrencies will be banned.”

Singapore’s Coinstore crypto exchange has allotted $20 million to open three new offices in the Indian market.

Previous documents from the Indian government indicate that it believes any cryptocurrencies not issued by the government are considered private and, therefore, could be banned.

The token prices on the Indian crypto exchange WazirX crashed following the announcement of a bill that would ban all private crypto.

Indian Prime Minister Narendra Modi has grown increasingly vocal about cryptocurrencies.

Despite the growing popularity of cryptocurrencies in India, lawmakers remain deeply divided on implementing a proper regulatory framework.

Officials from India's Finance Ministry said any potential law on cryptocurrencies would likely come around the time the government submits the Union Budget of India in February.

The leader of the conservative Hindu group has called for proper policing of the crypto space along with other stricter measures targeted at the digital space.

The Indian Institute of Technology Madras will test use cases around the Hedera Token Service, a public blockchain for payments.

A new partnership with LegitDoc places India among early adopters to implement an e-governance system for higher education.

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.

India’s crypto exchanges continue to cope with the burden of limited access to banking services.

Existing law in India could mandate a 2% levy on cryptocurrency purchases from offshore-based exchanges servicing India’s market.

“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.

Authorities in India are reportedly weighing up options concerning crypto regulations in the country.