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In March 2020, the Supreme Court of India passed the verdict, revoking the RBI ban on cryptocurrency trade. [84] [85] In 2021, the government is exploring the creation of a state-backed digital currency issued by the Reserve Bank of India, while banning private ones like bitcoin. [86]
India is reviewing its stance on cryptocurrencies due to shifting attitudes towards the virtual asset in other countries, a senior government official told Reuters on Sunday. The review, which ...
]In a fresh new twist, the Reserve Bank of India (RBI) has admitted to issuing its ban on cryptocurrency-related accounts spontaneously, without taking time to study and understand how ...
The head of an Indian nonprofit trade organization said cryptocurrency is “illegal,” and urged businesses to obey the law, local news daily the Hindu reported Thursday, Oct. 25. Debjani Ghosh ...
Coinswitch is an Indian cryptocurrency exchange and trading platform headquartered in Bangalore, Karnataka. [1] Founded in 2017, the platform enables users to trade Virtual Digital Assets (VDAs) with Indian Rupees. In October 2021, Coinswitch secured $260 million in Series C funding, valuing the company at $1.9 billion. [2] [3] [4]
A cryptocurrency, crypto-currency, or colloquially, crypto, is a digital currency designed to work through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.
A top official of India's central bank has compared cryptocurrency to a "Ponzi scheme" and suggested an outright ban in its sharpest criticism just weeks after the government proposed taxation of ...
On 29 January 2021, the Indian Government proposed a bill to ban trading and investments in cryptocurrencies while giving legal power to RBI for developing CBDC, termed as "programmable digital rupee" using the experience gained from handling Unified Payments Interface (UPI), Immediate Payment Service (IMPS) and Real-time gross settlement (RTGS ...