• The RBI’s stance is justified, according to the governor.

    The RBI’s stance is justified, according to the governor.0

    Following the collapse of Terra’s UST and LUNA, RBI governor Shaktikanta Das noted in a local media interview that the central bank has been right to warn against cryptocurrencies. On Monday, Das told CNBC TV18 that if cryptocurrency had been regulated in India before the recent crisis involving the Terra ecosystem, investors would have questioned

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  • CoinSwitch in India is pleading for regulatory clarity and predictability

    CoinSwitch in India is pleading for regulatory clarity and predictability0

    India CoinSwitch CEO Ashish Singhal claimed that the country needs to enact legislation on cryptocurrency to solve regulatory ambiguity, protect investors, and expand India’s crypto economy. Despite the fact that India’s central bank has campaigned for a ban on cryptocurrencies owing to concerns to financial stability, the cryptocurrency industry has interpreted the federal government’s proposal

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  • Due to ‘informal pressure’ from the RBI, Coinbase has suspended operations in India

    Due to ‘informal pressure’ from the RBI, Coinbase has suspended operations in India0

    In a Tuesday earnings call, Coinbase CEO Brian Armstrong admitted that the exchange stopped the unified payments interface (UPI) in India due to “informal pressure” from the state bank. Armstrong’s remarks came a month after Coinbase’s India services were banned three days after their launch. Despite the Supreme Court’s decision in 2020 to overturn the

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  • In India, cryptocurrencies, like betting and casinos, may soon be subject to a 28 percent GST

    In India, cryptocurrencies, like betting and casinos, may soon be subject to a 28 percent GST0

    The GST Council is expected to consider imposing a 28 percent GST on cryptocurrencies. The government wants cryptocurrency to be on par with lotteries, casinos, racetracks, and betting. The GST Council has appointed a law committee to consider the idea to impose a 28% Goods and Services Tax on all services and activities related to

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  • The Indian Finance Minister hails blockchain technology

    The Indian Finance Minister hails blockchain technology0

    While hailing blockchain as “extremely necessary,” Indian Finance Minister Nirmala Sitharaman stated that the “inherent risk” of this nascent technology necessitates prudence. Private cryptocurrencies like as bitcoin, on the other hand, are “pretty well disseminated” in India, according to her. Sitharaman explained that while the Indian government supports the use of distributed ledger technology (DLT),

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  • How Buterin’s millions were spent on India’s covid relief program

    How Buterin’s millions were spent on India’s covid relief program0

    When hospitals ran short of beds and oxygen cylinders during the second wave of Covid-19 in April and May of last year, Ethereum developer Vitalik Buterin came to India’s rescue. Vitalik aided India’s fight against the pandemic by donating millions to the Covid-19 relief fund, providing around 500 Ethereum, 50 trillion Shiba Inu tokens, and

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