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Tag Archives: india

Crypto Ban in India Deemed Unconstitutional by Highest Court

India has removed its ban on cryptocurrencies.Crypto Can Find a Home in India AgainThe ban first emerged in 2018 by way of the Reserve Bank of India (RBI). The financial institution stated that cryptocurrencies were not real money in that they did not exist in physical form. In addition, governments are usually responsible for issuing new forms of money. As crypto did not come by way of a government entity, they were invalid and unfit to be used as a means of payment.However, the ban was not...

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Bitcoin Ends The Week Bullish Above $9000, Despite Global Markets’ Crash: The Crypto Weekly Market Update

This week has been somewhat positive for the cryptocurrency community. Starting with Bitcoin’s price, which began trading at $8,600 but, since then, it has risen to the current stance of above $9,000.Following its increase, Bitcoin is starting to escape the correlation it recently demonstrated with the traditional financial world markets. As the coronavirus outbreak keeps expanding into new territories, the stock market struggles again. Despite recovering slightly at the start of the week,...

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Not Over Yet? Reserve Bank Of India (RBI) Plans To Fight Cryptocurrency Ban Lift By Supreme Court

It has been only a few days after India’s Supreme Court lifted the 2018 RBI ban on cryptocurrency usage, and the Reserve Bank of India is preparing to counter the decision. A new report noted that the RBI is planning to file a review petition as it fears virtual assets might put the banking system at risk.RBI Fights BackAs Cryptopotato reported on Wednesday, the Supreme Court of India finally reversed the ban on cryptocurrency trading and holdings in the large country. The excitement quickly...

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Following The Crypto Ban Lift, India-Based Matic Network and WazirX Already Feeling The Positive Effects

A day after the Indian Supreme Court removed the ban on cryptocurrency usage, the interest in the country has been spiking. While the nation prepares for the following steps, the leading Indian cryptocurrency projects, such as Matic Network and WazirX, are already feeling the positive effects.Removes The Negative Sentiment Amongst The Average IndianThe Reserve Bank of India (RBI) placed a prohibition on cryptocurrency usage back in 2018. After almost two years of suppression, however, the...

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India’s Supreme Court Lifts The Cryptocurrency Trading Ban by RBI From 2018

Today, the cryptocurrency community in India received a positive outcome on behalf of the country’s Supreme Court. After years of suppression from the Reserve Bank of India, The Supreme Court officially lifted the ban on trading or operating with digital assets.The RBI’s crypto ban is UnconstitutionalA local report from earlier today informed the positive outcome coming from the giant Asian country. A three-judge bench led by Rohinton Nariman quashed the 2018 directive from the Reserve Bank...

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Indian Police Warns Against Dealing With Bitcoin And Other Cryptocurrencies

India remains one of the countries in the world with regulatory uncertainty when it comes to cryptocurrencies. While the Reserve Bank of India (RBI) has already clarified that digital assets are not illegal in the country, the Police department of Tamil Nadu has issued a fresh warning that the public should steer clear of cryptocurrencies.  Trade Cryptocurrency At “Your Own Risk”According to local news media, the Hindu, the Economic Offences Wing noted that they had received several...

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Bitcoin Billionaire Tim Draper Might Not Invest in India Ever Again Due to Controversial Citizenship Law

Tim Draper has suggested he will not tolerate religious discrimination. The Draper Venture Network is currently invested in India. The venture capitalist earlier this year criticized a proposed cryptocurrency ban in the world’s biggest democracy. Bitcoin billionaire Tim Draper is not one to shy away from controversy. As protests escalate over India’s Citizenship Amendment Act (CAA), Draper has warned that the new law could harm the subcontinent’s power to attract investors such as him. Per...

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India Is Once Again Talking About Banning Crypto

India is once again talking about banning crypto.Hey, India: Make Up Your Mind!It’s a situation India has been in before. Prior to this big argument, the country initiated a ban on banks doing business with cryptocurrency and blockchain ventures. Thus, these companies did not have any financial authorities to oversee their transactions.While the ban was relatively limited in scope, many news and media outlets misreported this as India was implementing a full ban, and likely bitcoin and crypto...

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India Could Be The Next Big “Crypto Country”

Could India be on the verge of making a real name for itself in the crypto space?India: The New Big Crypto Haven?The country has often had a very mixed relationship with digital currency, being rather hostile towards the likes of Libra and even threatening jail time for crypto users, but a new crypto merger may be what is needed to ensure digital money’s future within the country’s borders.Crypto exchange Wazir X is now a part of arguably the world’s largest and most popular digital trading...

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India Arrests Three Involved in Potential Crypto Scam

Cryptocurrency scams just seem to be an everyday thing as of late, and the latest scam news involving digital money is arriving out of India.Is India Home to a Large Crypto Scam?The country’s Special Task Force (STF) says it has made three arrests in what is turning out to be a very large case of cryptocurrency fraud. The people arrested include Rakesh Kumar Singh, Bittu Yadav and Pradeep Dev. All three have been charged with digital theft. The suspects hail from a region of Bihar in...

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