Indian Government News

One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program.

Nirmala Sitharaman hopes that finance ministers and central bank governors can agree on crypto regulations at the G20 meeting in Bengaluru later this month.

Reliance Retail has implemented support for the digital rupee in its gourmet store line Freshpik.

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.

India’s Reserve Bank outlined the pros and cons of a digital rupee as it looks to raise awareness around its CBDC project.

Despite a strong emphasis on “social status” in India, holding a Bored Ape Yacht Club NFT there isn’t impressing anyone.

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.

The Andreessen Horowitz-backed crypto exchange is the latest on the Enforcement Directorate’s anti-money laundering hit list.

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.

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."

Indian finance minister reiterated RBI’s stance on the crypto market, claiming it’s driven by speculation.

India’s introduction of new crypto taxes had a negative impact on overall trading, forcing entrepreneurs to move to friendlier jurisdictions.

“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.

The document, which could define a national framework for digital assets, is almost ready.

Halfway through 2022, at the proof-of-concept stage, RBI is in the process of verifying the feasibility and functionality of launching a CBDC.