India

Bitcoin as an asset has been astonishing to people all over the world given its unique characteristics. Since its launch, it has opened up a host of financial development opportunities. In the years since, the digital currency has been compared to the likes of Gold, stocks, fiat, and whatnot. But this time, it appears toContinue reading “It’s Bitcoin v. all, but here’s why it’s not ending anytime soon”

The crypto situation in India continued shift in different directions. Just recently, India’s biggest lender disabled UPI payment services for crypto merchants. It was a major blow for Indian crypto enthusiasts. However, it didn’t quite deter their plans to trade/invest in digital assets. Here’s why. Indians were now turning to P2P platforms and messaging platformsContinue reading “P2P transactions gain traction in India, despite SBI disabling UPI for crypto merchants”

According to local reports, India’s State Bank of India (SBI) has disabled its UPI payment facility for crypto-merchants. This is big news, especially since this is sure to impede access to the sector, something that has for long been a barrier to entry for many. At press time, Indian crypto-exchange WazirX was still offering UPIContinue reading “India’s biggest lender disables UPI payments facility for crypto-merchants”

Contradictory statements and media reports are making it impossible to get a handle on India’s soon-to-be-unveiled cryptocurrency policy. This uncertainty has left young blockchain firms and programmers in the dark. Meanwhile, even though Finance Minister Nirmala Sitharaman categorically ruled out a much-feared blanket ban, transparent regulations are not a part of the picture. Nonetheless, supportersContinue reading “Assessing the blockchain and cryptocurrency scene in India”

Around 7 million Indians have already pumped over $1 billion into cryptocurrencies and the government has to undertake the task of allowing the fintech space to flourish in India. Consider this, in India, trading in digital assets surged to $6.6 billion in May, compared to $923 million in April 2020, as per Chainalysis data. Moreover,Continue reading “Indians to replace gold with crypto as a festive season unfolds”

The Reserve Bank of India has announced that its first digital currency trials may launch as soon as December 2021. The central bank governor, Shaktikanta Das discussed in an interview, that central bank digital currency [CBDC] was being discussed for a while now, and the authorities remained cautious regarding its scope. He stated, “We areContinue reading “Reserve Bank of India to start CBDC trials soon”

Many Indians have certainly rejoiced at the prospect of digital tokens in their wallets. This has been so, despite crypto-market sentiment in India witnessing a lot of headwinds from different regulatory boards lately. In fact, many of these agencies have made a few recommendations to bring much-needed clarity to the Indian cryptocurrency regulation scene. Now,Continue reading “India: A regulatory switch might have this impact on how Bitcoin is treated”

Bitcoin and the rest of the market’s cryptocurrencies have often been targeted for their alleged use in the world of terrorism financing. India’s Minister of External Affairs is the latest to join the chorus after he claimed that ISIS is now rewarding killings via Bitcoin. Speaking to the UNSC on Thursday, S Jaishankar claimed thatContinue reading “India’s External Affairs Minister claims ISIS is using Bitcoin to ‘reward killings’”

Prime Minister of India, Narendra Modi launched e-RUPI, a digital voucher program in a bid to boost the country’s fintech sector. The Indian government has been making efforts to digitize payments and e-RUPI will go a long way in achieving this. However, with e-RUPI already present, what role will a central bank digital currency [CBDC]Continue reading “Will India’s e-RUPI adoption pave the way for CBDC”