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The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. [1] Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment (or a commodity) varies, with differing regulatory implications.
It is estimated that India could save approximately ₹ 40,000,000,000 (equivalent to ₹ 42 billion or US$490 million in 2023) by reducing the need for physical currency production. [78] The Digital Rupee also aims to lower transaction costs, making both domestic and international money transfers more efficient and accessible.
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 was founded in 2017 by Ashish Singhal, Govind Soni, and Vimal Sagar. Initially, the platform operated as an exchange for global investors due to the Reserve Bank of India's (RBI) restrictions on cryptocurrency trading in India, [5] imposed in April 2018.
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 ...
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.
Common services are cryptocurrency wallet providers, bitcoin exchanges, payment service providers [a] and venture capital. Other services include mining pools, cloud mining, peer-to-peer lending, exchange-traded funds, over-the-counter trading, gambling, micropayments, affiliates and prediction markets.
NEW YORK (Reuters) -Former cryptocurrency executive Nishad Singh, who once shared a $35 million Bahamas penthouse with FTX founder Sam Bankman-Fried, was spared prison time by a judge on Wednesday ...