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RBI Releases Financial Stability Report With Mention of DeFi, US Efforts to Regulate Crypto Sector
The crypto sector was briefly mentioned in RBI’s recently released Financial Stability Report. Talking in particular about DeFi, the report said that global regulatory bodies like the Financial Action Task Force and the International Organisation of Securities Commissions (IOSCO) are constantly examining developments around DeFi.
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Thailand Takes Decision to Ban Unlicenced Crypto Exchanges to Prevent Online Crime
This week, the Securities and Exchange Commission of Thailand released a public order that said that it was coordinating with the Thai government to block unauthorised providers of digital assets services.
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Binance Plans to Get India Ban Revoked, Working on Compliance Mandates: Report
Binance is looking to re-enter the Indian market, but this time as an entity registered by the Financial Intelligence Unit (FIU). The exchange is also reportedly gearing up to pay $2 million (roughly Rs. 16.7 crore) to the Indian government in penalties.
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Delhi Cops Bust Gang Sending Activated SIM Cards To Vietnam For Gaming Apps
Four people have been arrested here for allegedly sending activated SIM cards to Vietnam to be used for gaming and social media applications and they received payments on a cryptocurrency platform banned in India, police said on Sunday.
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Cryptocurrency Ponzi Scam Unearthed in Odisha, Head of ‘Yes World Crypto Token’ Arrested
The Economic Offences Wing (EOW) of Odisha has arrested the Country Head of "Yes World Crypto Token," namely Sandeep Choudhary (40) from Jaipur. Choudhary is a native of Rajasthan's Jhunjhunu. The case was registered on October 16 under sections 420, 467, 468, 471 and 120-B of the Indian Penal Code and sections 4, 5 and 6 of the Prize Chits and Mon...
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India To Implement Cyrptocurreny Regulations? What Official Said
India will decide on implementing cryptocurrency regulations after extensive discussions with other countries, a senior official said on Sunday, virtually ruling out a ban on such assets.
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Talks Underway for Global Framework on Crypto Rules, Says FM Nirmala Sitharaman
Discussions are underway on a global framework to regulate crypto assets, India's finance minister said on Tuesday, adding that cryptocurrencies could not be regulated efficiently without the co-operation of all countries.
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India's Push to Regulate Cryptocurrency Gets Support From IMF, US at G20
A push by Group of 20 (G20) president India to regulate cryptocurrencies gained support from both the International Monetary Fund and the United States on Saturday as finance chiefs of the bloc wrap up two-days of talks. US Treasury Secretary Janet Yellen said it was "critical" to put in place a strong regulatory framework but added that the Unite...
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BCCI Prohibits Women’s Premier League Teams from Featuring Crypto Ads
The Board of Control for Cricket in India (BCCI) has banned all the participating WPL teams from engaging with crypto-related sponsors. In its advisory to the five registered teams, the Indian cricket body said that “no franchisee shall undertake a partnership or any kind of association with an entity that is in any way connected/related to an en...
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WazirX Accuses Binance of Spreading False Claims as Tussle Between Crypto Firms Intensifies
WazirX on Wednesday, February 8, accused Binance of spreading false and misleading information against it in the market. Binance, on February 3, published a blog post saying that it had decided to ban WazirX from using its services. Binance has alleged that its ultimatum to WazirX to retract its statements have gone unanswered, leading it to sever ...
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‘Was Expected’: No Mention of Crypto in India’s 2023 Budget Explained by Insiders
The crypto sector did not make it to Finance Minister Nirmala Sitharaman’s Union Budget 2023-24 speech on Wednesday, February 1. The turn of events left industry insiders a tad disappointed, but yet relieved that the country is not rushing to shut all doors against the industry like China.
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‘I Don't Think We've Seen the Limits of It’: Ex-RBI Governor Raghuram Rajan Gives Nod to Crypto Technology
Raghuram Rajan, the former governor of the RBI said that digital assets like cryptocurrencies have had their “comeuppance,” but the underlying technology remains an enticing next-gen fintech tool that could be experimented with. The economist suggested crypto players against advertising digital assets as an ‘inflation-resistant’ alternative...
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Cryptocurrencies Nothing But Gambling, Their Value Make-Believe: RBI Governor
Reserve Bank governor Shaktikanta Das on Friday reiterated his call for an outright ban on cryptocurrencies, saying these are "nothing but gambling" and their perceived "value is nothing but make-believe."
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RBI Governor Says Next Financial Crisis Will Come from Private Cryptocurrencies
RBI governor Shaktikanta Das said on Wednesday that the next financial crisis would be caused by private cryptocurrencies. He also added that digital currencies have no underlying value and pose risks for macroeconomic and financial stability, and reiterated his view that they should be banned.
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What Is 'Margin' Crypto Trading and Why Do Experts Think It Should Be Banned in India?
Margin trading, also called leverage trading allows people to borrow capital from a broker to invest in crypto assets. The broker can be an individual as well as an entity such as a crypto exchange that offers the service. This practice enables traders to access more capital based on a collateral, than what they originally have to bet on a crypto a...
-
RBI Releases Financial Stability Report With Mention of DeFi, US Efforts to Regulate Crypto Sector
The crypto sector was briefly mentioned in RBI’s recently released Financial Stability Report. Talking in particular about DeFi, the report said that global regulatory bodies like the Financial Action Task Force and the International Organisation of Securities Commissions (IOSCO) are constantly examining developments around DeFi.
-
Thailand Takes Decision to Ban Unlicenced Crypto Exchanges to Prevent Online Crime
This week, the Securities and Exchange Commission of Thailand released a public order that said that it was coordinating with the Thai government to block unauthorised providers of digital assets services.
-
Binance Plans to Get India Ban Revoked, Working on Compliance Mandates: Report
Binance is looking to re-enter the Indian market, but this time as an entity registered by the Financial Intelligence Unit (FIU). The exchange is also reportedly gearing up to pay $2 million (roughly Rs. 16.7 crore) to the Indian government in penalties.
-
Delhi Cops Bust Gang Sending Activated SIM Cards To Vietnam For Gaming Apps
Four people have been arrested here for allegedly sending activated SIM cards to Vietnam to be used for gaming and social media applications and they received payments on a cryptocurrency platform banned in India, police said on Sunday.
-
Cryptocurrency Ponzi Scam Unearthed in Odisha, Head of ‘Yes World Crypto Token’ Arrested
The Economic Offences Wing (EOW) of Odisha has arrested the Country Head of "Yes World Crypto Token," namely Sandeep Choudhary (40) from Jaipur. Choudhary is a native of Rajasthan's Jhunjhunu. The case was registered on October 16 under sections 420, 467, 468, 471 and 120-B of the Indian Penal Code and sections 4, 5 and 6 of the Prize Chits and Mon...
-
India To Implement Cyrptocurreny Regulations? What Official Said
India will decide on implementing cryptocurrency regulations after extensive discussions with other countries, a senior official said on Sunday, virtually ruling out a ban on such assets.
-
Talks Underway for Global Framework on Crypto Rules, Says FM Nirmala Sitharaman
Discussions are underway on a global framework to regulate crypto assets, India's finance minister said on Tuesday, adding that cryptocurrencies could not be regulated efficiently without the co-operation of all countries.
-
India's Push to Regulate Cryptocurrency Gets Support From IMF, US at G20
A push by Group of 20 (G20) president India to regulate cryptocurrencies gained support from both the International Monetary Fund and the United States on Saturday as finance chiefs of the bloc wrap up two-days of talks. US Treasury Secretary Janet Yellen said it was "critical" to put in place a strong regulatory framework but added that the Unite...
-
BCCI Prohibits Women’s Premier League Teams from Featuring Crypto Ads
The Board of Control for Cricket in India (BCCI) has banned all the participating WPL teams from engaging with crypto-related sponsors. In its advisory to the five registered teams, the Indian cricket body said that “no franchisee shall undertake a partnership or any kind of association with an entity that is in any way connected/related to an en...
-
WazirX Accuses Binance of Spreading False Claims as Tussle Between Crypto Firms Intensifies
WazirX on Wednesday, February 8, accused Binance of spreading false and misleading information against it in the market. Binance, on February 3, published a blog post saying that it had decided to ban WazirX from using its services. Binance has alleged that its ultimatum to WazirX to retract its statements have gone unanswered, leading it to sever ...
-
‘Was Expected’: No Mention of Crypto in India’s 2023 Budget Explained by Insiders
The crypto sector did not make it to Finance Minister Nirmala Sitharaman’s Union Budget 2023-24 speech on Wednesday, February 1. The turn of events left industry insiders a tad disappointed, but yet relieved that the country is not rushing to shut all doors against the industry like China.
-
‘I Don't Think We've Seen the Limits of It’: Ex-RBI Governor Raghuram Rajan Gives Nod to Crypto Technology
Raghuram Rajan, the former governor of the RBI said that digital assets like cryptocurrencies have had their “comeuppance,” but the underlying technology remains an enticing next-gen fintech tool that could be experimented with. The economist suggested crypto players against advertising digital assets as an ‘inflation-resistant’ alternative...
-
Cryptocurrencies Nothing But Gambling, Their Value Make-Believe: RBI Governor
Reserve Bank governor Shaktikanta Das on Friday reiterated his call for an outright ban on cryptocurrencies, saying these are "nothing but gambling" and their perceived "value is nothing but make-believe."
-
RBI Governor Says Next Financial Crisis Will Come from Private Cryptocurrencies
RBI governor Shaktikanta Das said on Wednesday that the next financial crisis would be caused by private cryptocurrencies. He also added that digital currencies have no underlying value and pose risks for macroeconomic and financial stability, and reiterated his view that they should be banned.
-
What Is 'Margin' Crypto Trading and Why Do Experts Think It Should Be Banned in India?
Margin trading, also called leverage trading allows people to borrow capital from a broker to invest in crypto assets. The broker can be an individual as well as an entity such as a crypto exchange that offers the service. This practice enables traders to access more capital based on a collateral, than what they originally have to bet on a crypto a...
