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.
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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…
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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.
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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…
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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.
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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…
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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…
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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…
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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.
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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…