India

Cryptocurrency Legislation Over the past 4-5 years, the legislation of cryptocurrencies, blockchain, and similar instruments has become one of the most critical regulatory authorities' tasks. Even though regulation is of utmost importance, the sudden spark has its reasons. Scrupulous practices such as ICO scams, exchange hacks, unregulated creation of monetary schemes, etc., have made it necessary. As a result, governments worldwide acknowledge the importance of regulatory oversight for keeping a check on the space. This has received a lot of…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $251 billion. Bitcoin gets bullish support to move above $9,000 before dropping just below the mark. Ethereum value consolidates around the $230, with its sight set on the $250 target. XRP ends below the resistance level of $0.235 after an impetuous rise of up to $0.245 India finally lifts an RBI ban on cryptocurrency…

India’s central bank (RBI) is planning to file a review petition on the Supreme Court’s ruling that, the banking ban on crypto was unconstitutional. Last Wednesday, the Supreme Court of India, in its ruling lifted the banking ban on cryptocurrencies. The RBI, had in April 2018, issued a circular to prohibit all banks from providing any services to crypto-related businesses. However, according to a report from Economic Times, the RBI is planning to file a review petition on the Supreme Court ruling against the central…

CoinDCX, a top crypto trading platform in India and liquidity aggregators, is now an OKEx partner. OKEx is a Malta-based crypto exchange. CoinDCX also announced the launch of its new DCXfutures product. The product meets demands that have increased for access to Futures, Options, and higher leverage trading in India's market. A maximum of 15x leverage trading for renowned cryptos like BTC, ETH, XRP, BCH, LTC, EOS, ADA, and TRX will be available with DCXfutures. The Collaboration Benefits CoinDCX CEO…

As the crypto market continues to reach new heights, it's more than just investors interested in the power of blockchain technology. Governments and critical financial institutions recognize the benefits of cryptocurrencies, such as higher efficiency and streamlined payments. As such, Central Bank digital currencies (CBDCs) have started to emerge across the globe. A recent survey revealed that around 10% of central banks are on the verge of issuing some form of centralized cryptocurrencies. Unlike cryptocurrencies designed to provide a reliable…

Cryptocurrency adoption is increasing exponentially worldwide,  and several nations are working to introduce and launch their Central Bank Digital Currency (CBDC).  In an interview, the Wazir X CEO, Nischal Shetty, expressed that India should look into launching its CBDC. Shetty also talked about his bullish view concerning cryptocurrency and blockchain adoption in India, based on how the non-tech individuals are striving to comprehend DLT in a country like India. He says that there will be access to capital, and it…

Reports from recent times have shown that Zebpay, the Singapore-based cryptocurrency exchange platform, has made a comeback to the Indian market. Zebpay has been closed in India for more than a year. The closure came about due to India’s cryptocurrency market suppression as the RBI cut off financial services to exchanges months before. Zebpay closed up shop in India on 28th September 2018. However, on 29th January, the IBS intelligence announced Zebpay would finally continue to avail its services for…

Recent reports pointed out several court cases on cryptocurrency in India’s supreme court. These court cases support the prohibition of crypto-related services by banks and financial institutions. However, India’s Reserve Bank supports crypto-related services.  Several cryptocurrency supporters, such as Prathiba Jain, want the easing of regulations in India’s Fintech. During the World Economic Forum in Davos, Jain, the founder and head of New Delhi, Nishith Desai Associates, talked about Anti-Money Laundering and Counter-Terrorist Financing (AMLCTF) system in the nascent Fintech…

The Indian government is incorporating blockchain technology solutions into government schools in the country. Incorporating the technology will ensure the schools offer top education quality.  The IT minister, Ravi Shankar Prasad, asked the NIC team to find out possible ways of ensuring they merge blockchain solutions and technology to improve primary school quality. Foremost, people will get an education on the Crypto word basics, including BTC, ETH, and the role of technology in digital currency. The health minister's remarks considered…