Tag Archives: india

Sandeep Nailwal – CEO and Co-Founder of Polygon – sees massive chaos reigning in the Indian cryptocurrency market. In his view, this disorder causes thousands of developers, investors, and entrepreneurs to leave to countries with more friendly regulatory frameworks. The Uncertainty Causes a Crypto’ Brain Drain’ It is safe to say that India’s digital asset environment is controversial. On one hand, the country has millions of crypto investors, some of whom have even swapped...

Indian Finance Minister Nirmala Sitharaman said that she expects the central bank to roll out its digital currency this year. About the legalization of bitcoin and other digital currencies, she noted that the government is not inclined to take a position just yet. It has set in motion a consultation process, and when it ends, the government will look at the insights generated before taking a position, she clarified. India’s CBDC Plans on Track Speaking at the annual summit of...

India is likely making a big mistake considering a ban on crypto any further given that it’s people really seem to love the industry. India Has an Odd Relationship with Crypto Swati Daga is a businesswoman in India that first bought bitcoin in the year 2017. This was at a time when the currency was trading for under $3K. Her family did everything they could to try and convince her that investing her hard-earned cash in BTC or any other form of crypto was a bad idea, but...

Chingari – a short video application based in India – has unveiled its new cryptocurrency GARI, which is slated to begin trading on the India-based cryptocurrency exchange Coin DCX. Chingari in India Will Have Its Own Crypto The move comes at a rather strange – and potentially inopportune – time given that India is still very much up in the air when it comes to the fate of cryptocurrency. The country has had one of the most unstable relationships in the world with...

The global sports NFT market will see a transaction count of over $2 billion this year, Deloitte’s Technology, Media, and Telecommunications (TMT) Predictions 2022 has said.  Throwing a spotlight on the emerging Indian sports and entertainment NFT market, the TMT forecast says it will grow to $1 billion in the near future.  Global Sports NFT Trends “By the end of 2022, we expect that 4-5 million sports fans globally will have purchased or been gifted an NFT sports...

Indian IT multinational Infosys on Thursday announced the launch of Metaverse Foundry. The new business division at the company, a global leader in digital services and IT consultancy, promises to ease and fast-track an enterprise’s ability to use emerging technologies and offer metaverse products and services. “Infosys metaverse foundry helps enterprises navigate the metaverse by partnering with them through the Discover-Create-Scale cycle,” a press release shared by the...

The ASCI said that the guidelines will be enforced from April 1, 2022, and advertisers must ensure that their previous ads don’t appear in the public domain without the new disclaimer. Ads Must Have a Disclaimer The local watchdog asked in the guidelines that crypto ads display a disclaimer that these “unregulated” products can be “highly risky” as there can be no regulatory recourse in case of any loss.  “Crypto products and NFTs are unregulated and can be highly risky....

It’s been months, and the fight surrounding crypto in India doesn’t appear to have an end in sight. The Reserve Bank of India (RBI) and its deputy governor T Rabi Sankar have recently issued statements saying that the only way to deal with crypto within the nation’s borders is by banning it. India and Crypto… The Fight Is Still Waging The words came at the recent Indian Banks Association 17th Annual Banking Technology Conference and Awards. Not long ago, it was announced...

A top official at India’s central bank recently reiterated warnings to Prime Minister Modi’s government about the risks cryptocurrencies pose to the country’s financial system. This time, he compared digital assets to “Ponzi schemes”, mirroring some investors’ long-held criticisms of the asset class. Crypto Is A Ponzi, Says RBI Governor T. Rabi Sankar of the Reserve Bank of India (RBI) offered his criticisms during a banking conference speech on Monday. As reported by...

A fortnight packed with important developments on the economic front, Indian Finance Minister Nirmala Sitharaman and Governor of India’s central bank Shaktikanta Das told the media that there is complete harmony between the two government bodies on the cryptocurrency front. Crypto Makes Headlines in India In the budget presentation for 2022-23 on February 1, Sitharaman proposed a flat 30% tax on all incomes from crypto activities. She also announced the introduction of...