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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]
]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 ...
India's first concrete steps in acknowledging crypto may be here to stay, having spurred both excitement and confusion over whether the country is approving crypto as an asset. Making Sense of ...
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 1 November 2022, RBI used Digital Rupee to settle Indian government bonds in secondary market transactions worth ₹2.75 billion Indian rupees ($33.29 million). [52] The Phase-1 of pilot project for e₹-R will start from 1 December 2022 in Mumbai, New Delhi, Bengaluru, and Bhubaneswar under State Bank of India, ICICI Bank, Yes Bank, and ...
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.
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 ...
Section 69 of the Information Technology Act, 2000 (as amended in 2008) authorizes Indian government officials or policemen to listen in on any phone calls, read any SMS messages or emails, or monitor the websites that anyone visits, without requiring a warrant. [29]: 2 [30] (However, this is a violation of article 21 of the Constitution of India.