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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BITCOIN MINING FARM IN UTTARAKHAND INDIA |www.antminerbitcoin.com

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Bitcoins For Secured Loans – Indian Industry Still Doubtful

Secured loans in the digital lending space are witnessing a lot of innovations. But thinking of cryptocurrencies as collateral forms for these loans is still a big question, one full of regulatory and practical concerns. Loans Secured Against Bitcoins If there is anything that has undergone a change, thanks to digital players in the BFSI…

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RBI Argues Supreme Court Should Not Interfere With Its Crypto Decision

The Reserve Bank of India has filed an affidavit with the country’s supreme court in response to one of the petitions against its crypto banking ban. The central bank reportedly argues that it has acted within its power and that none of the petitioners have shown reasonable grounds for the supreme court to intervene. No…

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First Assets Seized in Amit Bhardwaj Fraud Case – Bitsonline

The Indian economic intelligence agency, the Enforcement Directorate, has provisionally seized assets worth $5.8 USD million in relation to infamous bitcoin Ponzi scheme operator Amit Bhardwaj, who swindled people to the tune of $300 million. In the meantime, Delhi police also took Vivek Bhardwaj, Amit’s brother, into custody. Also see: Bitcoin Cash, Bitcoin Unlimited Contributor Disclosed…

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LSEG Signs Agreement with the National Stock Exchange of India

The London Stock Exchange Group (LSEG) announced today that it has signed a Memorandum of Understanding (MoU) with the National Stock Exchange of India (NSE). Together, the exchanges will work towards creating a dual listing route for Masala bonds. Furthermore, LSEG and NSW will potentially launch ELITE – LSEG’s business support and capital raising programme…

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Blockchain Solution For Airlines Launched By IT Firm NIIT Technologies

India-based IT firm NIIT Technologies has realesed a new blockchain solution designed to combat challenges faced by airlines and its partners in the backend process of settlements. NIIT Technologies is an IT provider with customers in travel and transportation, banking and financial services, insurance, manufacturing and media verticals. It offers a range of services including…

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Growing Number of Indian Crypto Exchanges Say Fiat Support Is Back Despite RBI Ban

A growing number of crypto exchanges in India have announced the return of fiat deposit and withdrawal support despite the crypto banking ban imposed by the country’s central bank. Several other exchanges in the country also allow their users to use Indian rupees to buy and cash out cryptocurrencies through their exchange-escrow peer-to-peer (P2P) services….

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India Cryptocurrency Winter Survivors: We Were Not Sleeping, But Hibernating

The RBI Circular was intended to put a pause button on cryptocurrency activity in India, but as the mandate that restrained banks to be involved in this space goes through debate, protests, and court pit-stops, beneath the surface a lot has transpired. It is in the trenches where it can be shown why it is…

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