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Investors queasy as prospect of India crypto ban returns

Top blockchain and crypto news: Are India’s CBDC plans crowding out crypto? Jack Dorsey goes full Bitcoin bro. China’s digital yuan hopes claim another victim.

Is an IPO in the cards for India’s first crypto unicorn CoinDCX?

Is CoinDCX — India’s first crypto company to achieve unicorn status, or US$1 billion in valuation — going public? CoinDCX co-founder Neeraj Khandelwal set off a frenzy of excitement when he told Bloomberg in a recent interview that CoinDCX may pursue an initial public offering as soon as legislation permits. But a CoinDCX spokesperson told […]

Coinstore defies regulatory tension to enter India

Singapore-based crypto exchange Coinstore has entered the Indian market despite the regulatory wrangle that points toward an impending ban on all private cryptocurrencies, the company announced today. Fast facts Coinstore has launched its website and mobile application for Indian users and plans to set up offices in Bangalore, Delhi, and Mumbai that will support its […]

India’s crypto market plummets as parliament schedules debate on bill to ban it

Bitcoin and Ethereum prices fell nearly 24% in India as investors sought to get ahead of a possible crypto prohibition.

India proposes crypto ban; Metaverse race heats up

India proposes crypto ban meanwhile Metaverse race heats up

Indian banks continue to resist crypto a week before legislation hits Parliament

As the Indian government is due to introduce crypto legislation for discussion in the Parliament next week, Indian banks are cautioning customers against investing in crypto. Fast facts According to a report by the Economic Times, HDFC, Axis and ICICI banks have sent emails to customers warning them about the risks of investing in crypto […]

Indians may be allowed to trade, but not pay with, crypto

While fears of a complete ban on virtual currencies have been dispelled, Indian investors are still in the lurch about what may or may not be allowed.

Indian regulator greenlights first blockchain feeder fund

Indian investors will now get exposure to global companies in the blockchain ecosystem as the Securities and Exchange Board of India greenlighted the Invesco CoinShares Global Blockchain ETF Fund of Fund (FoF). Fast facts The feeder fund will invest in the Invesco CoinShares Global Blockchain UCITS exchange-traded fund (ETF), formerly known as Invesco Elwood Global […]

India’s 1st parliamentary meeting on crypto ends with consensus on regulation — and no ban

While the government has yet to figure out the details, a crypto regulatory regime is expected to be released before February.

Middle-ground India crypto bill could be introduced this month

The Indian government is looking to introduce a cryptocurrency bill in the winter session of parliament in a bid to “fast track” regulation of a rapidly growing ecosystem, CNBC-TV18 reported. Fast facts India first drafted a bill to ban all cryptocurrencies in the budget session of 2021, but it was never tabled for discussions. Officials […]

IPO-bound Paytm may launch crypto services if legalized in India

India digital payments giant Paytm will consider launching crypto-related services if it becomes a regulated asset class in the country, Paytm CFO Madhur Deora told Bloomberg TV on Thursday. Fast facts “Bitcoin is still in a regulatory gray area, if not a regulatory ban in India,” Deora said. “If it [Bitcoin and other cryptocurrencies] was […]

Dogecoin, Shiba Inu are becoming crypto alpha dogs in India

Dogecoin and Shiba Inu are gaining massive traction and ranking among the top five traded cryptocurrencies on Indian exchanges. Fast facts Dogecoin contributed 13.76% to the overall trading volume of CoinSwitch Kuber, which claims to be the largest Indian crypto exchange with over 10 million customers, over the last six months, according to a report […]

India’s long-awaited crypto regulation coming in February, finance ministry officials say

Recent developments indicate the government is looking to regulate the sector instead of quashing it, and industry experts remain optimistic. 

India gets second crypto unicorn within two months

Indian crypto exchange CoinSwitch Kuber has become the country’s second crypto unicorn after raising US$260 million in a Series C funding round, the startup announced. Fast facts The latest funding round drew in marquee investors — it was led by Coinbase Ventures and Andreessen Horowitz (a16z). Existing investors Sequoia, Paradigm, Ribbit and Tiger Global also participated […]

Ban or no ban, Indian crypto industry is thriving

India’s crypto industry will grow over 200% to reach $241M by 2030, a new study says.

Investors get ready, India crypto tax in the works

The Indian ministry of finance has formed a panel to examine how income from crypto investments can be taxed, according to a report by Inc42. Fast facts The panel will evaluate whether crypto income can be taxed as capital gains or if it requires the formation of a new category. The committee is required to […]

India may not be ready to follow El Salvador’s lead, but don’t rule out cryptocurrency, finance minister says

Nirmala Sitharaman says ‘a futuristic thing can’t be shut out’ as the country considers crypto regulation, including a possible blanket ban.

Banks blocking transactions? No problem. Indians find ways to continue trading crypto

As major banks distance themselves from crypto business, alternative trading methods like peer-to-peer transfers are gaining popularity among investors

Upbit passes Korea crypto race post; P2P transactions surge in India

Upbit passes Korea crypto race post meanwhile P2P transactions surge in India

India’s largest public bank bars payments to crypto exchanges

Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.

CrossTower says it wants to collaborate, not compete, with Indian exchanges

CrossTower became the second international crypto exchange to enter the Indian market last week after Binance made its entry by acquiring WazirX in 2019.

CoinSwitch Kuber says it’s now the largest Indian exchange with over 10 million customers

The platform reports more users than WazirX and CoinDCX, and aims to make crypto trading as easy as ordering food online.

Cardano smart contracts set for Sunday: CrossTower launches in India

Cardano smart contracts set for Sunday also CrossTower launches in India

The world of crypto opens up life-changing earning opportunities for Indian tweens and teens

Gajesh Naik and Laya Mathikshara, two Indian 13-year-olds, are getting global recognition — and making astronomical sums — through their ventures in crypto and NFTs.

So, no ban? India’s crypto bill will treat virtual currencies as commodities in the asset class

The veil of uncertainty that has shrouded crypto regulatory discussions seems to be lifting, but how the government will regulate and tax digital money remains to be seen.

India crypto exchanges allow bank deposits; FTT token on a roll

India crypto exchanges allow bank deposits while FTT token on a roll

Former India central bank chief says cryptocurrencies have a ‘potential future’

While India’s parliament considers a potential nationwide ban on all private virtual currencies, a former governor of India’s central bank says some cryptocurrencies have a “potential future” in the global economy. Raghuram Rajan, ex-governor of India’s central bank and former chief economist at the International Monetary Fund, made his comments at a Reuters Global Markets […]

Led by Vietnam and India, global crypto adoption jumps over 880%

Asia is now tops in the world in cryptocurrency adoption. Vietnam, India and Pakistan are now the top three countries in the world in crypto use — and other Asian countries aren’t far behind, according to Chainalysis’ 2021 Global Crypto Adoption Index published today. Fast facts Thailand, China and the Philippines also ranked in the […]

Indian market regulator asks depositories to use blockchain

The Securities and Exchange Board of India, a markets watchdog, has asked depositories to employ blockchain to record and monitor the creation of securities and covenants involving non-convertible securities, according to a report by Livemint. Fast facts SEBI formed a group in November to suggest ways to strengthen the process of creating and monitoring securities, […]

India crypto bill awaits approval; Poly Network hack saga continues

India crypto bill awaits approval while Poly Network hack saga continues

India’s crypto sector on edge as bill that may lead to ban awaits cabinet approval

If cabinet approves crypto bill by November, it could be introduced as early as parliament’s winter session.

India gets Bitcoin rewards cards with backing from crypto-averse central bank

GoSats, an Indian Bitcoin rewards app, has launched a new cash back card that will allow Indians to earn up to 100% of their spending in Bitcoin and provide a chance to win one full Bitcoin on every spend, GoSats announced in a tweet. Fast facts The GoSats prepaid RuPay debit cards will be released […]

Why Silicon Valley is pouring big money into India’s crypto industry

While Delhi goes back and forth over a crypto ban, crypto’s huge growth potential in the world’s second most populous country is captivating American venture capital.

India’s CoinDCX crypto exchange becomes unicorn with US$90M in funding

CoinDCX, an Indian cryptocurrency exchange, has become the country’s first crypto unicorn with a US$90 million Series C fundraise, the company announced today. The funding was led by Facebook co-founder Eduardo Saverin’s B Capital. The fresh funding pegs CoinDCX’s valuation at US$ 1.1 billion. Fast facts Founded in 2018, CoinDCX offers a range of crypto […]

Unocoin now allows Indians to buy pizza, coffee with Bitcoin

Several cryptocurrency payment methods exist around the world, but new service is the first major one of its kind in India.

Indian Olympic medalists to get free cryptocurrencies

Indian athletes who have won medals at the Tokyo Olympics have been promised free cryptocurrencies by Indian crypto exchange Bitbns, according to a report by the Economic Times. Fast facts Bitbns will create systematic investment plans denominated in Bitcoin and Ethereum worth around US$2,695 for gold medalists, US$1,348 for silver medalists and US$674 for bronze […]

Ethereum upgrade closely watched; India launches e-RUPI voucher

Ethereum upgrade closely watched also India launches e-RUPI voucher

India admits it has no good data on crypto exchanges, despite years of debate over regulations

Speaking to Parliament, India’s finance minister reveals that the government does not know how many crypto exchanges India has nor the number of crypto users.

India admits no crypto data; Korean crypto investor numbers plummet

Number of new South Korean crypto investors have tanked in the month of June as crypto mining investments boom outside China.

Big Indian banks take stakes in trade finance blockchain firm

Fifteen of India’s largest banks have invested in a fintech firm that aims to use blockchain to speed up domestic letters of credit, a first in domestic trade finance, regulatory filings to the National Stock Exchange of India show. Fast facts Named the Indian Banks’ Blockchain Infrastructure Co., the firm uses blockchain technology to verify […]

India issues CBDC update; Korea threatens to block exchanges

India updates its CBDC plans and Korea threatens to block exchanges

India central bank plans digital Rupee rollout

India plans to implement the country’s digital currency in phases, Reserve Bank of India’s deputy governor Shri T Rabi Sankar said at a webinar organized by the Vidhi Centre for Legal Policy, New Delhi.  Fast facts “CBDC (central bank digital currency) will be in the arsenal of most if not all central banks in the […]

India’s crypto community plays for time as New Delhi dithers on regulation

The prospect of a ban on cryptocurrencies has haunted the industry for years, but it appears to be receding as delayed rules give policymakers time to think before they act.

India seeks crypto advice; K-drama joins NFT bandwagon

India seeks crypto advice meanwhile K-drama joins NFT bandwagon

Indian court seeks standardized disclaimers on crypto ads

The Delhi High Court has sent a notice to government agencies and crypto exchanges to seek guidelines on crypto-related advertising on national television. Fast facts The division bench of Justice D.N. Patel and Justice Jyoti Singh sought responses from the Ministry of Information and Broadcasting, the Securities and Exchange Board of India and crypto exchanges […]

India’s ICICI bank blocks foreign crypto remittances

ICICI bank, one of India’s largest lenders, has warned its customers against using its international remittance services for transferring any form of cryptocurrency, the Bharat Express reports. Fast facts The Industrial Credit and Investment Corporation of India recently made an amendment to an international remittance form compelling customers to declare: “The above remittance is NOT […]

Coinbase seeks ‘hundreds’ of engineers for India tech hub

Despite uncertainty surrounding cryptocurrency regulation in India, Coinbase — the largest cryptocurrency exchange in the United States — is stepping up its expansion plans in the world’s second-most populous country and home to fast-growing projects such as Polygon and Instadapp. Fast facts Coinbase is looking to build out its India tech hub, which was announced […]

Gold loses shine for India’s crypto-curious young investors

Crypto investment in India has grown from about US$200 million to nearly US$40 billion in the past year, driven in large measure by demand among young investors.
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Indian crypto investors could be stung by 2% foreign operator levy

Indian cryptocurrency investors could face a 2% levy on transactions made through foreign-owned crypto exchanges operating in the country.

WazirX CEO: India’s crypto industry trying to keep ‘clean’ for regulators

Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.

India reviews cryptocurrency ‘ban’ legislation

The Indian government and leading industry stakeholders are reviewing elements of legislation that proposed a ban on cryptocurrencies.

Who’ll blink first in India’s crypto stand-off?

India’s central bank has clarified that cryptocurrencies are not illegal, but that does little to prevent lenders from refusing to provide crypto-related services.

Indian crypto exchange WazirX in probe over US$382M in suspect transactions

India’s Enforcement Directorate has issued a show cause notice to cryptocurrency exchange WazirX for alleged foreign exchange violations involving 27.9 billion rupees (US$382 million).

Foreign crypto exchanges eye India despite regulatory uncertainty

Despite regulatory uncertainty over cryptocurrency trading in India, some of the world’s largest crypto exchanges are looking to enter the market.

India crypto feud continues; Korea mining thief busted | The Daily Forkast

Regulatory uncertainty pushes India’s crypto industry towards self regulation as a secret Ethereum miner gets busted in Seoul Arts Center.

Indian crypto exchanges form self-regulatory body

Crypto exchanges in India have partnered with the Internet and Mobile Association of India to form a self-regulatory body.

Is India’s central bank greenlighting crypto? Bitcoin fees fall to new lows. Cardano rolls out Alonzo upgrade for DeFi.

Other top blockchain and crypto news: Thailand’s SEC tries to rein in DeFi via regulation. Will China’s future DCEP digital yuan offer smart contracts?

WazirX launches India’s first NFT marketplace

WazirX launched the country’s first NFT marketplace on Tuesday, featuring artists from India and other South Asian nations.

Thailand warns over DeFi; India green lights cryptos | The Daily Forkast

Thailand becomes one of the first governments to attempt DeFi regulation as India’s RBI clarifies that banking ban no longer exists.

Indian central bank in climbdown over crypto ban

India’s central bank has said that banks and other finance sector businesses should not adhere to a prohibition it imposed on lenders dealing in cryptocurrencies.

Indian lenders cling to overturned central bank crypto ban as customers fume

Banks in India, including some of the country’s largest lenders, are notifying their customers not to engage in cryptocurrencies, adhering to a central bank rule from 2018 that bans them from dealing in cryptos — despite the fact the ban was overturned by the Supreme Court more than a year ago.

India’s demand for crypto ‘growing like crazy’ since ban attempt

It’s only a matter of time that digital currency ‘is going to overshadow all the other forms of money,’ says Neeraj Khandelwal of CoinDCX.

Indian crypto standoff takes toll on investment despite hopes for solution

Cryptocurrency investment in India has reportedly slowed to a trickle as both investors and cryptocurrency exchanges grapple with banks’ refusal to accept digital currency transactions. Despite the face-off, industry executives are hopeful that banking support will resume soon, according to a report by Moneycontrol. As reported by BloombergQuint, most crypto exchanges, including WazirX, CoinDCX, Zebpay, […]

Indian crypto plan moots rules to harness growth potential

Startup association presents recommendations for regulatory framework as it pushes boost for business instead of blanket ban. IndiaTech.org, an industry association representing startup founders and investors, has called for the registration of homegrown, locally registered cryptocurrency exchanges in a five-point policy framework aimed at crypto regulation. It proposes that cryptocurrencies should be given the status […]

“Everyone has been bitten by the Chia bug”; Indian banks puzzle crypto | The Daily Forkast

The Chia craze keeps on going while the Indian crypto industry speaks out against banks blocking crypto transactions.

Indian payments authority leaves banks to weigh crypto-trading bans

National Payments Corporation of India refuses to ban cryptocurrency trading, putting decision on whether to block trades in hands of lenders. India’s national payments authority has handed banks the responsibility for deciding whether or not to ban cryptocurrency trading. The National Payments Corporation of India has advised lenders across the country to impose bans on […]

Indian banks, payment gateways reportedly blocking crypto transactions

India’s cryptocurrency exchanges are calling on local banks not to block their transactions. Cryptocurrency exchanges in Mumbai are reportedly struggling with payment gateways and banks, which they accuse of blocking their transactions by citing an old Reserve Bank of India (RBI) policy to ban digital currency dealings. They claim the policy had been struck down […]

Binance Charity Fund donates to India’s COVID-19 fight

The charity arm of Binance is sending 175 oxygen connectors to India to aid in the coronavirus relief effort.

Dogecoin frenzy spreads in Asia; Indian exchange logs 15x traffic | The Daily Forkast

Asia adds to global Dogecoin froth, investors buy into the meme-currency ahead of US hours. South Korea kicks off a crackdown on illicit crypto use.

India mandates new disclosure rules for cryptocurrency companies

Starting today, India’s crypto firms must report all cryptocurrency transactions to the government. What does this mean for India’s proposed crypto ban?
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Jack Dorsey cashing in on NFT frenzy. Ripple turns to CBDCs amid XRP’s legal troubles. Is India rethinking a crypto ban?

Other top blockchain and cryptocurrency news: Ethereum takes up with Amazon, plans gas fee changes. China likely to increase blockchain spending.

Does India have room for both bitcoin and a CBDC?

As debate rages over whether India should ban private cryptos in favor of a central bank digital currency, a case could be made that India needs both.