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Unocoin has said its servers were “not compromised” after unauthorized transactions made it shut down access to user accounts.
India’s finance ministry panel urges the government to regulate and discourage the use of digital currencies in the country.
Unocoin is currently moving servers to a “more secure location” after a file storage error caused it to suspend all services.
CNBC revealed that the Indian government committee has ruled in favor of regulating bitcoin on June 20.
A user purchasing Bitcoin on Indian exchange Unocoin has reported hackers immediately stole the majority of his funds.
India’s lack of regulation is helping ‘pyramid schemes with Bitcoin as their base,’ local startups are complaining.
Leading Indian Bitcoin startups form a foundation to try to regulate Bitcoin in India.
Leading Indian Bitcoin exchanges including Zebpay, Unocoin and Coinsecure have formed an industry-wide organization called the Blockchain and Virtual Currency Association of India.
Over the past few months, local Indian bitcoin exchanges including Unocoin have shown enormous growth, primarily due to the demonetization of banknotes and financial crisis.
Bitwage will be able to utilize Unocoin API and employers will be able to directly and automatically sell Bitcoin and the beneficiary will be able to receive Indian rupees directly in their bank account in India.
Indian mainstream media and news networks have begun to extensively cover bitcoin amid ongoing crackdown on gold.
As Bitcoin finds new favour among Indians, India’s Unocoin launches new Bitcoin application for both the iOS and Android platforms. Bitcoin has hit new highs in India since demonetisation occurred November 8.
Indian government’s attempt at demonetization results in higher demand for alternative assets. The premium that Bitcoin commands in the Indian market has widened.
Can Unocoin crack the tough Indian Bitcoin nut after receiving VC funding? Cointelegraph talked with Sunny Ray, President of Unocoin, about the issue.
The online bus ticket booking portal eTravelSmart has partnered with India’s most popular bitcoin wallet and merchant payment processor Unocoin to allow users in the country to purchase tickets using bitcoin.
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