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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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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Reserve Bank of India Denies Creation Of Blockchain Unit

The Reserve Bank of India (RBI), the country’s central bank, has denied recent reports that suggested it was setting up a unit to research cryptocurrency, blockchain, and artificial intelligence (AI). In August of this year, anonymous sources, familiar with the RBI’s plans, said that the central bank has established a new unit to research and…

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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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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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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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India Exchange Unocoin Suspends Withdrawals Following Central Bank Demands

“Deposits/Withdrawals Notice,” came the post title from popular Indian cryptocurrency exchange Unocoin this week. “As per orders from RBI,” the exchange explained, “bank INR withdrawals and INR Deposits have temporarily been disabled. Once an alternative method of funding is identified and deployed, we will resume the deposit and withdrawal services.” Also read: Cryptowhispers: DDoS Attacks,…

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Indian Crypto Regulation Ready by September: Official

The Indian government is expected to issue detailed cryptocurrency guidelines by September, a senior official from the country’s Ministry of Finance reportedly said. Consultations with all stakeholders including the central bank have already begun. This announcement is independent of the supreme court’s hearing of petitions relating to crypto regulation in India. Regulation Expected by September…

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Indian Supreme Court Heard Crypto Petitions Today but RBI Ban Stays

India’s Supreme Court heard the petitions against the crypto banking ban by the Reserve Bank of India (RBI) today. After hearing some arguments from both sides, the court decided to set another hearing date, allowing some of the regulators involved to respond to the petitions. Supreme Court Hearing on July 20 The long-awaited hearing at…

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WazirX adds INR/Tether [USDT] pair, P2P exchange to offset RBI ban

WazirX, an Indian cryptocurrency exchange, has launched an INR – USD Tether [USDT] pairing available for trading. This comes in the light of the ban on cryptocurrencies in India by the Reserve Bank of India. The exchange also added a peer-to-peer [P2P] transfer feature for its users in order to circumvent the ban, as only…

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South Korea on the Road to Regulated Mainstream Crypto

The days of “Korea FUD” in the cryptoverse may finally be coming to a close. In light of recent reports South Korea has been moving towards a more welcoming and regulated approach to crypto, local Korean news outlet BChain (English) has released detailed information on the government’s upcoming plans for the industry. Also see: No Eggs…

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Indian Crypto Exchanges Launching P2P Trading Services – Bypassing RBI Ban

With the impending banking ban by the Reserve Bank of India, cryptocurrency exchanges in the country are scrambling to find banking alternatives. Two Indian exchanges have announced that they are launching P2P crypto trading services which will allow traders to buy and sell crypto legally even after the central bank’s ban. Wazirx’s P2P Service With…

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Indian Exchange Zebpay Boosts Trading Support for 19 Cryptos Ahead of RBI Ban

Leading Indian cryptocurrency exchange Zebpay has added new cryptocurrencies to its crypto-to-crypto trading platform. The exchange now supports 19 cryptocurrencies and over 35 trading pairs, as it prepares for the banking ban by the country’s central bank to go into effect next week. 19 Cryptocurrencies, 35+ Trading Pairs One of the largest cryptocurrency exchanges in…

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Indian Crypto Regulations Ready in July, Official Reveals

If you thought crypto in India was over, you were probably wrong. According to a recent statement by a high-ranking official, the long-awaited regulations are on the way. A draft framework has been prepared, and authorities in Delhi hope to “wrap this up” as early as the first half of next month. Meanwhile, the Supreme…

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India Divided on Whether to Ban Crypto Use

As India works on the bill to regulate cryptocurrencies, each government department has its own opinion on whether to ban the use of crypto, including bitcoin. The Finance Ministry, the Reserve Bank of India (RBI), the Income Tax Department, and the Special Investigation Team have voiced their opinions on the upcoming bill. No Consensus Among…

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Indian Cryptocurrency Exchanges Eye Meeting RBI in Supreme Court

A number of representatives from cryptocurrency exchanges in India have spoken anonymously about intentions to go to the supreme court to challenge the RBI’s recent decision to instruct banks to stop servicing their accounts. by Miguel Gomez, 2 hrs ago Subscribe × After the Reserve Bank of India instructed banks to stop doing business with…

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Indian Crypto Exchanges Strategize to Challenge RBI Crackdown

Indian crypto exchanges are devising strategies to challenge and respond to the Reserve Bank of India’s order to prohibit banks from servicing businesses dealing in cryptocurrencies. News.Bitcoin.com talked to Sathvik Vishwanath, CEO of a leading Indian exchange Unocoin, to find out more details. Going International Following the announcement by the Reserve Bank of India (RBI) last…

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Over 16,000 Indians Sign Petition Against “Irrational” RBI Crackdown

Cryptocurrency users in India are using the internet to voice their protest over a recent crackdown by the country’s central bank. Instead of allowing it to be stifled, petitioners call on the government to help cultivate the new ecosystem which can benefit India in various ways.    Also Read: ADS Securities Adds Bitcoin Cash, Litecoin,…

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Coindcx Launches Indian Crypto-to-Crypto Exchange Amid Regulations

This week the Reserve Bank of India (RBI), the country’s central bank, has banned banks from dealing with cryptocurrency businesses. Indian financial institutions have three months to cease doing business with digital asset operations but some of them may stop facilitating INR settlements. News.Bitcoin.com spoke with Sumit Gupta the founder and CEO of a new…

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