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…
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.
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…
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…
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…
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.
Indian cryptocurrency investors could face a 2% levy on transactions made through foreign-owned crypto exchanges operating in the country.
The Indian government and leading industry stakeholders are reviewing elements of legislation that proposed a ban on cryptocurrencies.
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.
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).