Tag Archives: india

The coronavirus outbreak led to new developments and restrictions in the past 24 hours. The 2020 Tokyo Olympic Games could be postponed, while India inserts a lockdown on 75 districts in its borders. The financial markets reacted adversely today, as U.S. futures and Asian stocks nosedived by up to 10% in some cases.Bitcoin is down by 9% to $5,800 in the same timeframe, hinting again a positive correlation with the stock market.Stocks and Futures Plunge (Again)The number of deaths linked to...

American venture capitalist investor, Timothy (Tim) Draper, supported the recent ban removal on cryptocurrency trading and usage in India. He noted that “the best ideas ultimately prevail,” and predicted that Bitcoin will perform quite well in this financial crisis.Draper On The Latest Developments in IndiaThe popular investor has previously shown a rather skeptic approach to investing in the Indian market. Back in 2019, reports had it that the nation will decide if migrants from some...

Despite the recent increased interest in cryptocurrency-related businesses in India, most firms have not registered yet with the country’s Registrar of Companies (RoC). The nation’s Minister of State for Finance and Corporate Affairs revealed the findings as a response to a previously submitted investigation report that looked into fraudulent “bit coin companies.”Fraudulent Cryptocurrency Companies in IndiaMember of the Indian parliament, Mohammed Faizal, recently raised three questions with...

The leading cryptocurrency exchange by volume, Binance, and India’s own exchange WazirX, are setting up a blockchain fund in the Asian country for $50 million. Dubbed “Blockchain for India,” the fund’s mission is to invest in blockchain startups focused on solving industrial and social problems.Blockchain For India $50MLast year, Binance acquired several companies based in other countries to expand its reach even further. One of them was the Indian-based cryptocurrency exchange – WazirX....

Last week’s decision from the Supreme Court of India to lift a two-year-old ban on cryptocurrency usage already has a positive impact on the local business scene. Kraken, a leading veteran U.S.-based digital asset exchange, announced plans to invest resources in the Indian market.Kraken Recommits To The Indian MarketThe veteran San Francisco-based exchange, Kraken, is planning to invest in the newly-reopened for cryptocurrency-related business Indian market. The company recently announced its...

Nicht nur die Menschen rund um den Globus haben die Grippe, auch einige Banken plagt „ein Schnupfen“: Die indische Regierung war gezwungen, eine der grössten Banken des Landes zu retten, um das Vertrauen in das Finanzsystem zu stärken. Die Kunden können momentan Geld im Wert von maximal 700 US-Dollar pro Tag abheben. Ist Indien das neue China? In Indien schwächelt die Wirtschaft und eine der grössten...

Bitcoin has shot past the $9,000 mark once again, but it’s still facing heavy resistance.Bitcoin Is Doing Better, but It’s Still StrugglingThe number one cryptocurrency by market cap has been struggling as of late thanks to rising fears of the coronavirus, which has spread throughout most of Asia, as well as parts of Europe and North America. More than 2,000 deaths have been recorded thus far, while tens of thousands of other individuals remain infected at the time of writing.The currency...

It was reported recently that India had removed the crypto ban it initially instilled in the year 2018. While the ban was not placed on digital assets themselves, it did place limitations on banks and financial institutions and prevented them from offering their services to crypto-based businesses.India Is Likely to Up Its InvestmentsThe Supreme Court of India has decided that this ban is unconstitutional and has thus taken the liberty of striking it down. This is a first step towards the...

South Korea is introducing its citizens to a new law that’s likely to set crypto on a very legitimate path.South Korea Initiates New Crypto LawThe law requires that South Korea obey all international financial regulations and adhere to know your customer (KYC) laws for all its digital trading platforms. This will lessen the chance of money laundering, terrorist financing and other illicit activities.South Korea, at one point, was one of the world’s biggest cryptocurrency hubs. The nation...

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...