India

India is the second biggest crypto market in terms of global adoption, with an estimated investment of INR 6.6 billion in the asset class. Unsurprisingly, reports of a likely private crypto ban caused market mayhem in the country last week. However, Subhash Garg, the former finance secretary who drafted the Crypto Bill, called the bill’s descriptionContinue reading “Report recommends regulating not banning ‘flourishing’ crypto industry in India”

The second day of the winter session of the Indian Parliament kickstarted on 30 November, but the crypto-bill is not up for discussion yet. However, Finance Minister Nirmala Sitharaman told the Rajya Sabha that a new, reworked crypto-bill, will be “soon introduced in the Parliament after Cabinet approval.” Regulations underway FM Sitharaman also reiterated thatContinue reading “India: New crypto-bill to be tabled after Cabinet approval, says Finance Minister”

The winter session of the Indian Parliament commenced today and as expected, cryptocurrencies are also on the agenda. Out of the 26 draft legislations to be tabled, the crypto-bill is one of them, with the contents of the same fueling a lot of FUD recently. Now, the country’s Finance Minister has claimed that there isContinue reading “Breaking | India: ‘No proposal to recognize Bitcoin as a currency,’ says FM”

Several independent bodies, including IndiaTech, have made suggestions for the upcoming crypto bill to be introduced in the Indian Parliament. As the Winter Session commenced today, IndiaTech said that the draft might seek to curtail foreign currency exposure. A local newspaper reported that this might limit what an Indian investor can buy annually in cryptoContinue reading “India: What the crypto-bill might mean for investors’ annual buying quota”

India’s lack of regulatory clarity on the question of cryptos has left many stakeholders in limbo. From a curtailment in marketing by exchanges to investors falling out, a lot has been happening in the country. However, India’s growing market seems just too lucrative for some to miss out on. Despite these regulatory hurdles, Singapore-based crypto-exchangeContinue reading “Singapore’s Coinstore enters India despite regulatory limbo; cites ‘optimism’”

The FUD around the ban on cryptocurrencies in India has created an uncertain environment for crypto exchanges. Ecosystem players working in spaces like non-fungible tokens and blockchain are also in a tizzy. Needless to say, amid panic selling, crypto proponents urged investors to remain calm, and avoid arriving at any rushed conclusions. Vijay Shekhar Sharma,Continue reading “Industry leaders upbeat about crypto in India, want to stay ahead in the game”

The Indian crypto market is in turmoil and the air is thick with FUD as the government potentially prepares to table the heavily-discussed yet mysterious Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. As rumors of a ban floated around, Indian investors began panic-selling. In response, WazirX CEO Nischal Shetty has been making numerous mediaContinue reading “WazirX CEO discusses India’s crypto market, urges investors not to give in to FUD”

India is preparing to welcome the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. However, speculations around an alleged ban on “private cryptocurrency” have taken over the Indian market. In fact, soon after the first reports broke out, one of India’s leading crypto-exchanges WazirX crashed. Reportedly, the exchange has been witnessing heavy traffic sinceContinue reading “India: Survey finds majority distrust cryptos, don’t support taxation, legalization”

India is in the middle of a crypto-revolution. And, it would seem that the regulatory climate is gaining steam too, with the much-speculated crypto-bill scheduled to make its first appearance in the winter session of the parliament. According to tweets shared by the PRS Legislative, 26 new bills will be introduced beginning on 29 November.Continue reading “India: Crypto-bill FUD notwithstanding, here’s how the market is holding up”