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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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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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 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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India: Supreme Court Decision on Central Bank Crypto Dealings Ban Moved to September

The Supreme Court of India’s hearing on the central bank’s ban on crypto dealings, originally scheduled for July 20, has been moved to September, according to a July 19 Twitter post by a team of Indian lawyers involved in crypto regulatory analysis. The Reserve Bank of India’s (RBI) crypto banking ban was implemented in early…

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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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India Unlikely to Issue Blanket Ban on Cryptocurrency

Government officials in India have indicated that the government may adopt a more measured approach to regulating the cryptocurrency market.   We Don’t Want to Ban Cryptocurrencies Altogether In yet another twist to the unending saga of India’s stance on cryptocurrency market, recent comments from government officials indicate that the country may not ban virtual…

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In anticipation of ban, Indian trading volume surges

As Bitcoin approaches $10k, market sentiment in the world’s second most populous country has shifted to the extent that it seems to have outweighed any concerns Indian investors might have about the impending ban. Reuters speculate that traders are now rushing to convert rupees into bitcoin while there is still time to buy from local…

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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 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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Crypto Crackdown: Exchanges In India Look To Shift Base Overseas

Crypto exchanges in India are reportedly looking to move their head offices to foreign shores days after the country’s central bank barred banks from dealing in cryptocurrency. Last week, the Reserve Bank of India ordered banks to refrain from providing any services to individuals or business entities dealing with or settling cryptocurrencies. It has given…

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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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