India: Media Reports Central Bank Has Postponed ‘Crypto-Rupee’ Plans

The Reserve Bank of India (RBI) is pausing its plans to release a digital currency, Indian business news outlet the Hindu Business Line reported on Jan. 1. India’s central bank had originally announced its intentions to consider a central bank digital currency (CBDC) in April of this year, at the time noting the establishment of…

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Italy Is Looking to Expand Its Blockchain Protocols

The Ministry of Economic Development in Italy has tasked 30 proclaimed experts in the cryptocurrency space with the task of building the nation’s blockchain strategy from the ground up. Among those tasked with the job are Angiolini Giorgio – head of marketing at the telecon firm Italtel and a member of UN INFO’s blockchain group;…

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India Will Soon Use Blockchain Solutions In Telecommunication Industry

IBM aims to provide blockchain solutions in mobile portability and in Do Not Call registry. Sriram Raghavan, vice president of IBM Research and chief technology officer of IBM India and South Asia says We have completed proof of concepts and pilots with all the major telecom providers and with TRAI in this space. We anticipate…

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Indian Finance Minister Receives Government Recommendations For Crypto Regulations

With the submission of a government report to India’s finance minister, the country may be closer to regulating cryptocurrency. Although confirmed details are scarce, a recent CNBC report indicates that an Indian government panel has suggested a legal framework for cryptocurrency regulation. The panel’s recommendations have reportedly been submitted to India’s finance minister, Arun Jaitley,…

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Daily Byte: Wednesday, November 21, 2018

Crypto lawsuits are on the rise, UK may snub crypto derivatives business, and India set to clarify stance on crypto. Here is some of what’s happening, for Wednesday, November 21, 2018: Crypto Lawsuits on the Rise The digital currency industry magazine Diar is reporting that crypto-related lawsuits in the United States have mooned, with the…

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SWIFT to Experiment with Blockchain in India

SWIFT has signed a partnership with a fintech firm Monetago, through which it will experiment with blockchain applications in India, according to a press release. SWIFT India MonetaGo is a New York-based company which offers blockchain services to financial firms. It uses the technology to simplify information processes. It also has a Bitcoin exchange which…

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India To Present Draft Regulations On Cryptocurrencies Next Month

The government of India is reportedly set to released its much awaited draft bill on crypto regulation next month. Last month, the Supreme Court held a hearing on petitions filed by crypto exchanges who took the legal route to fight the crypto banking ban imposed by the Reserve Bank of India in April of this…

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Darknet-Based Animal Trafficking Is on the Rise in India

The darknet is effectively influencing a lot of unsavory business models. While most of the focus lies on drug sales, there are plenty of other industries to be concerned about. Wildlife trafficking is quickly becoming a booming business in certain parts of the world. Especially in India, the darknet seems to play an even bigger…

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HSBC Facilitates India's First Blockchain Trade Finance Transaction

HSBC recently facilitated India’s first blockchain trade finance transaction. This development reinforces the narrative that despite the negative stance towards cryptocurrency in India, there is some focus on the benefits of blockchain technology in the country. Details of the Transaction According to The Times of India, the British Banking behemoth recently executed a trade finance…

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Indian Officials Considering Ban On Private Use Of Crypto

India seems to be inching closer to an all-out crypto ban. On Tuesday, October 30, the 19th meeting of the Financial Stability and Development Council (FSDC) was held in India. Attendees included India’s finance minister, the head of the securities board, and the governor of the Reserve Bank of India (RBI). During this meeting, attendees…

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Indian Official Proposes Ban On “Private Cryptocurrencies”

The government of India is considering a blanket ban on the use of “private cryptocurrencies,” according to a report published by the Indian government press center. During the 19th meeting of the Financial Stability and Development Council (FSDC) under the chairmanship of finance minister Arun Jaitley, senior government and financial regulation officials discussed “the issues…

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India May Ban

A committee chaired by the Indian finance minister has been discussing a ban on the use of private cryptocurrencies, according to a press release from the country’s Financial Stability and Development Council. “Encouraging the use of Distributed Ledger Technology” The latter committee published on Tuesday the results of its 19th meeting, revealing that it had…

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Daily Byte: 10.25.2018

Sony ups the cold storage game, Binance publicizes charitable contributions, and more legal drama in Plattsburgh and India. Here is some of what’s happening for Thursday, October 25, 2018: Sony Developing Contact-less Hardware Wallet Sony Computer Science Laboratories, Inc, has announced the creation of a contact-less hardware wallet, per a press release published Tuesday. The…

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Unocoin’s Crypto ATM In India Seized, Co-founder Arrested

Police in the Indian city of Bengaluru has arrested Harish BV, co-founder and chief technology officer of crypto exchange Unocoin, for setting up a crypto ATM without any approvals from authorities. According to local reports, Harish had installed the crypto ATM at Kemp Fort Mall on Old Airport Road with his partner Sathvik Viswanath, CEO…

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Zebpay Leaves India for Malta Due to Constricting Regulation

One of India’s largest cryptocurrency exchanges, Zebpay, is moving its operations to the Mediterranean island nation of Malta in an effort to maintain its operations after shutting shop last month. The move comes amidst an unprecedented cryptocurrency ban instituted by the Indian government. The new Malta-based exchange, which will still be called Zebpay, will offer…

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Cryptocurrency Scam Case Reaches a Dead End in Mumbai

Roughly a year ago, Mumbai police accused the founder of ATC Coin Ltd. of running a cryptocurrency scam. Now the case has gone cold after police remain unable to locate any of the alleged victims.   In October 2017, police in Mumbai said they were looking for the founder and sole director of ATC Coin…

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India’s BSE Inks Agreement with Dubai’s DME to Broaden Commodities Market

India’s premier exchange, the Bombay Stock Exchange (BSE), announced today that it has inked a memorandum of understanding (MoU) with the Dubai Mercantile Exchange (DME). Together, the two exchanges will work together to help India’s commodities market maximise its potential. DME is the premier commodities and international energy futures exchange in the Middle East. At…

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Cryptocurrency Exchange Unocoin To Release Crypto ATMs In India

Indian crypto exchange Unocoin is planning to release its own line of crypto ATMs. Founded in 2013, Unocoin is a mobile wallet that enables users to buy, sell, store, use, and accept cryptocurrencies. Since the Reserve Bank of India (RBI) issued a circular in April of this year banning banks from providing services to crypto…

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India: Crypto Ban Sees First Casualties as ZebPay Closes Doors

ZebPay officially announced that it was forced to stop activity due to legal and regulatory obstacles.  ‘Curb on Bank Accounts … Crippled Our Ability’” Indian exchange Zebpay’s announcement came via Medium less than a month after they informed customers they will halt fiat transactions. On September 4th, the exchange’s blog relayed that the company will refund users the…

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