One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program.
Indian Government News
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Nirmala Sitharaman hopes that finance ministers and central bank governors can agree on crypto regulations at the G20 meeting in Bengaluru later this month.
4899 - News
Reliance Retail has implemented support for the digital rupee in its gourmet store line Freshpik.
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The explosive Web3 growth in the country is supported by several factors, including a large talent pool, a high adoption rate and product development for global markets.
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India’s Reserve Bank outlined the pros and cons of a digital rupee as it looks to raise awareness around its CBDC project.
4555 - Interview
Despite a strong emphasis on “social status” in India, holding a Bored Ape Yacht Club NFT there isn’t impressing anyone.
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The Indian crypto exchange was under investigation by local authorities for money laundering allegations which caused a freeze on over $8.1 million in bank account funds.
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The Andreessen Horowitz-backed crypto exchange is the latest on the Enforcement Directorate’s anti-money laundering hit list.
1942 - News
A KuCoin survey estimates that some 115 million Indian citizens are invested in cryptocurrencies, while many are still concerned about the government’s stance toward the sector.
2865 - News
The Directorate of Enforcement of India alleged that WazirX "actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route."
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Indian finance minister reiterated RBI’s stance on the crypto market, claiming it’s driven by speculation.
1994 - Analysis
India’s introduction of new crypto taxes had a negative impact on overall trading, forcing entrepreneurs to move to friendlier jurisdictions.
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“One of the reasons it is so successful is because it's simple,” he added while comparing the Unified Payments Interface’s (UPI) growth with blockchain technology.
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The document, which could define a national framework for digital assets, is almost ready.
2454 - News
Halfway through 2022, at the proof-of-concept stage, RBI is in the process of verifying the feasibility and functionality of launching a CBDC.
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