Tag Archives: india

The finance minister of India Nirmala Sitharaman is putting a lot of people’s fears to rest given that her recent budget speech left out cryptocurrencies completely. While this may seem like the wrong move to make, it has seemingly calmed many viewers given that India has long been debating whether it should potentially instill a full ban on all crypto-related activity.India Is Moving in Another Direction with CryptoIndia first instilled a ban on all business partnerships between crypto firms...

Indien will eine eigene Kryptowährung schaffen und Bitcoin verbieten. Der Ausschuss der Regierung in Indien empfiehlt das offizielle Verbot von Kryptowährungen. Die Regierungen und Regulierungsbehörden stehen den privaten digitalen Währungen skeptisch gegenüber und zeigen sich über das zunehmende Aufkommen sowie die Investitionen von vielen Menschen in Indien und den verbundenen die Risiken besorgt....

The Government of India seems to have resumed its efforts to ban cryptocurrencies after a lull in a political and legal battle.The latest move by politicians came this week when they revealed a bill that could put any activity related to cryptocurrencies in checkmate.If Cryptocurrencies Are Legal, a Law Can Make Them IllegalThe “Cryptocurrency and Regulation of Official Digital Currency Bill” seeks to ban private cryptocurrencies —possibly any token not issued by the state. Such a path could...

India is looking towards adopting blockchain technology for remote voting. This comes despite the country’s stance against cryptocurrency trading.Blockchain Technology in India’s Voting ProcessAccording to The Wire, on Monday (Jan. 25, 2020), Sunil Arora, India’s Chief Election Commissioner (CEC), announced the plans to use blockchain technology in a mock trial for remote voting. The exercise is aimed at finding an effective way to make the voting process easier for residents in far-flung...

The relationship between bitcoin and India has always been a complicated one. Following a lengthy period of preventing bitcoin companies from doing business with banks, India now says it’s considering imposing a large Goods and Services Tax (GST) on all BTC transactions.India Wants to Impose a GST Tax On BTCThe tax would be around 18 percent. To qualify for the tax, a transaction must be worth more than 40,000 crores. The news comes by way of the Central Economic Intelligence Bureau (CEIB), a...

Indian authorities have arrested a 60-year-old greetings maker for duping about 45 people in investing over $350,000 in a fraudulent cryptocurrency scheme. The accused ran the operation through a designated application and promised double-digit monthly returns.Indian Crypto Fraudster ArrestedAs reported by the Times of India, the local police apprehended Umesh Verma at the Indira Gandhi International Airport upon his arrival from Dubai.Verma had set up his own website and established a...

The 100 BTC kidnapping case in the Indian state of Karnataka continues to develop as the local police have arrested another suspect on the case. Reports say he was the one who abducted the kid in front of his home after being recruited by the mastermind of the entire operation.Progress On A 100 BTC Ransom CaseJust a couple of weeks ago, perpetrators demanded a 100 BTC ransom for the son of a local businessman and crypto investor after abducting the eight-year-old boy in front of his home in...

Cryptocurrency exchange Coin DCX has managed to put away roughly $20 million since the start of the pandemic. The company recently completed a Series B funding round in which it garnered as much as $13.9 million, though this was the third funding round it engaged in during 2020. Companies such as Block.one, Coinbase, DG and Jump Capital were all happy to take part.Coin DCX Is Growing Like MadInitially, the company sought to raise roughly $3 million back in March when the coronavirus pandemic...

In a Bitcoin-related kidnapping event in Karnataka, India, abductors asked for a 100 BTC ransom for the son of a local businessman and crypto investor. The police managed to capture six suspects on the case, which were all related to the victim’s family.100 BTC for The Son of A Crypto InvestorAn eight-year-old boy from India has been kidnapped with a ransom note demanding 100 bitcoins, worth about $2.3 million. The incident happened in the southwest Indian state of Karnataka while the child...

India is looking to potentially set up cryptocurrency-based banks within its borders. This creates a rather interesting scenario in that the country cannot seem to decide if it wants to ban crypto transactions for the future, though until that decision is made, it’s going to cash in on everything crypto has to offer.Will India Have a Ban or Won’t It?Recently, the ban that was in place in India – one that prevented banks from working with crypto-based businesses and applications – was deemed...