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india


Indian regulators’ clampdown on cryptocurrency businesses is forcing the exchange startup Unocoin to experiment with stablecoins and ATMs to continue receiving fiat deposits from customers. Unocoin co-founder Sunny Ray told CoinDesk his company hasn’t been able to transact through regular banking channels with its 1.3 million customers for several months, after the Reserve Bank of …

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The crypto markets continue to move along, with government interest, institutional interest, development, and of course a little SEC action thrown in. Here is today’s action: India evaluating creation of government-backed cryptocurrency India is yet another country looking into building its own backed cryptocurrency, according to a review panel in India by India’s finance ministry. …

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A review panel, created by India’s finance ministry, to determine a regulatory framework for cryptocurrencies in the country has suggested India launch its own cryptocurrency. A report from Quartz suggests that officials are growing closer to preparing a regulatory framework for cryptocurrencies. One senior official suggested the panel is even looking into the creation of …

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An Indian commercial bank has revealed it is building a cross-border remittance app based on the Corda blockchain platform developed by consortium startup R3. Being built as a so-called CorDapp on the platform, Kochi-based Federal Bank has turned to blockchain startup DigiLedge to develop the app for “faster and cheaper” remittances to India, according to a press …

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This post was originally published here Much noise has been made about the untraceable qualities of Bitcoin and other cryptocurrencies. Bitcoin “can be used to buy merchandise anonymously” said early primers on crypto, it offers users the kind of financial privacy that was previously available only from a “Swiss bank account,” say more recent commentators. …

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The RBI has denied the “formal creation” of a unit to research AI and blockchain technology, according to a report. The clarification after an investigation by Coin Crunch India comes weeks after the central bank was rumored to have set up the supposed unit to “research and possibly draft rules” for the emerging technologies. In an …

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This post was originally published here Gone are the days when shady dealings in crypto were perceived as immune to the clutches of law enforcement. Illicit crypto proceeds can be shuttled between wallet addresses at the click of a mouse, and their obfuscation behind the multiple strings of numbers and letters of wallet addresses can …

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Multinational data storage, analytics and information security firm Dell EMC plans to invest in emerging technologies, including blockchain, the company announced Wednesday. Dell EMC, a subsidiary to the computer manufacturer Dell, announced on Wednesday that it has plans to invest in emerging technologies including artificial intelligence, blockchain, data analytics and cloud-compliance, the Economic Times reported. In particular, …

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Official government websites in India ran cryptomining scripts without their owners’ knowledge, the Economic Times reported Monday. Municipal government websites in the state of Andhra Pradesh, among others, were infected by cryptomining software such as Coinhive, security researchers found. Users visiting these websites would then inadvertently mine cryptocurrencies on behalf of the hackers who injected …

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The Reserve Bank of India made the argument on Wednesday at the Supreme Court that bitcoin cannot be recognized in the country. In a case that has been brought by a number of exchanges against the Indian central bank for blocking their access to banking services five months ago, the RBI argued via an affidavit …

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The Republic of India may be taking a deeper look at how it can use blockchain technology. India’s Union Cabinet – an executive decision-making body composed of senior government officials and led by Prime Minister Narendra Modi – said it would allow the nation’s Export-Import Bank (Exim Bank) to conduct research on distributed ledger and blockchain …

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Payment provider TransferGo has announced it is launching a remittance corridor to India that uses Ripple technology for near real-time transactions. Available from “anywhere in Europe,” the firm said in a press release that using Ripple’s services allows it to replace the “multiple slow incumbent communications systems, most prominently Swift, where transfers can take up …

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India’s central bank is researching how to introduce a rupee-backed central bank digital currency (CBDC) into its monetary policy in a bid to reduce its hefty annual bill for minting physical cash. The news was revealed in the Reserve Bank of India’s (RBI) annual report, published Wednesday, which indicated an inter-departmental unit has already been formed within the …

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A promoter of the controversial cryptocurrency platform BitConnect was arrested on August 19, according to a local news outlet in India. Former BitConnect India head Divyesh Darji was arrested at Indira Gandhi International Airport in New Delhi on Sunday, the India Express reported. The Criminal Investigation Department of Gujurat police announced they arrested Darji after …

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A state government in India is working with a multinational IT services giant to build a district within the state capital dedicated to blockchain startups. The IT department of the Telangana state government on Friday signed a Memorandum of Understanding (MoU) with Tech Mahindra, a publicly listed firm with headquarters in India, that will see …

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A consortium of state-owned development banks plan to research blockchain technology for international transactions and other products, Russia-based Vnesheconombank said Thursday. Vnesheconombank, the Brazilian Development Bank, the Export-Import Bank of India, the China Development Bank and the Development Bank of Southern Africa signed an agreement to conduct research on how they can use blockchain research …

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A Supreme Court decision on the Reserve Bank of India’s (RBI) efforts to bar cryptocurrency firms from receiving banking services will have to wait – for now. A final hearing on the ban’s merits has been deferred to September 11, local news outlet Inc42 reported Friday. The panel of judges overseeing the case want all arguments …

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The Indian National Congress (INC) party, the largest political party in the nation, is accusing the ruling Bharatiya Janta Party (BJP) of money laundering through bitcoin. INC, more commonly known as the Congress Party, alleged Thursday that the BJP was converting “black money” into white using bitcoin in the western state of Gujurat, the English-language …

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As the Indian Supreme Court declined to end a circular issued by the country’s central bank that bars crypto exchanges from working with banks, trading platforms are taking varied actions ahead of the next court hearing set for July 20. Zebpay, the largest crypto exchange in India by trading volume, said in a Tweet on Wednesday …

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India’s highest court has declined to end a ban enacted by the national central bank that bars the country’s crypto exchanges from doing business with regulated financial firms. Bloomberg reported Tuesday that the Indian Supreme Court, led by Chief Justice Dipak Misra, said that the Reserve Bank of India’s (RBI) prohibition on providing services to crypto-related …

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