India

Indian Travel Company MakeMyTrip to Launch NFT Series: Report

MakeMyTrip reportedly jumped on the crypto bandwagon by releasing a limited edition non-fungible token series. The digital collectibles will feature Indian landscapes as the proceeds from the sales will promote the local tourism sector. Joining the NFT Universe According to a recent coverage by Business Today, the Indian travel organization MakeMyTrip is the latest entity...
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Indian Finance Minister Expects CBDC to Roll Out This Year

Indian Finance Minister Nirmala Sitharaman said that she expects the central bank to roll out its digital currency this year. About the legalization of bitcoin and other digital currencies, she noted that the government is not inclined to take a position just yet. It has set in motion a consultation process, and when it ends,...
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Global Sports NFT Trade to Cross $2 Billion in 2022: Deloitte 

The global sports NFT market will see a transaction count of over $2 billion this year, Deloitte’s Technology, Media, and Telecommunications (TMT) Predictions 2022 has said.  Throwing a spotlight on the emerging Indian sports and entertainment NFT market, the TMT forecast says it will grow to $1 billion in the near future.  Global Sports NFT...
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Supreme Court of India Asks the Govt to Clarify if Cryptocurrencies are Legal or Not

The Supreme Court (SC) of India recently asked the Union government to clarify its stand on the legality of cryptocurrencies such as bitcoin. Hearing a case involving 87,000 bitcoins and thousands of investors in a Multilevel Marketing (MLM) scam, a bench of the apex court asked this question to the Additional Solicitor General Aishwarya Bhati....
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Infosys Launches Metaverse Foundry to Help Enterprises Navigate Emerging Technologies

Indian IT multinational Infosys on Thursday announced the launch of Metaverse Foundry. The new business division at the company, a global leader in digital services and IT consultancy, promises to ease and fast-track an enterprise’s ability to use emerging technologies and offer metaverse products and services. “Infosys metaverse foundry helps enterprises navigate the metaverse by...
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Indian Regulatory Body Issues Guidelines for Crypto and NFT Ads

The ASCI said that the guidelines will be enforced from April 1, 2022, and advertisers must ensure that their previous ads don’t appear in the public domain without the new disclaimer. Ads Must Have a Disclaimer The local watchdog asked in the guidelines that crypto ads display a disclaimer that these “unregulated” products can be “highly...
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India’s Central Bank Likens Cryptocurrencies To Ponzi Schemes

A top official at India’s central bank recently reiterated warnings to Prime Minister Modi’s government about the risks cryptocurrencies pose to the country’s financial system. This time, he compared digital assets to “Ponzi schemes”, mirroring some investors’ long-held criticisms of the asset class. Crypto Is A Ponzi, Says RBI Governor T. Rabi Sankar of the...
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Indian FM: Government and RBI in Complete Harmony on Crypto and CBDC

A fortnight packed with important developments on the economic front, Indian Finance Minister Nirmala Sitharaman and Governor of India’s central bank Shaktikanta Das told the media that there is complete harmony between the two government bodies on the cryptocurrency front. Crypto Makes Headlines in India In the budget presentation for 2022-23 on February 1, Sitharaman...
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Bitcoin And Ethereum Futures ETF To Arrive In India

Through a memo of understanding, Torus King Blockchain IFSC recently partnered with India INX to launch India’s first Bitcoin and Ethereum ETF product. This is the first Bitcoin futures ETF to premier outside of the United States. An Indian Crypto ETF As reported by The Economic Times, the ETF will launch under the International Financial...
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India’s Regulatory Watchdogs Wants Mutual Funds to Refrain From Crypto-related NFOs

India’s crypto saga did not have any significant breakthrough this year. As the regulatory climate remained unclear, the country’s market regulator feels mutual fund houses should not come up with fund offers related to cryptocurrency assets. SEBI Not Excited About Crypto NFOs The Securities and Exchange Board of India (SEBI) chairman, Ajay Tyagi, reportedly noted...
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India Might Not Regulate Cryptocurrencies in The Winter Season as Planned (Report)

The second-most populated country is reportedly considering postponing the implementation of cryptocurrency regulations. Before putting bitcoin and the alternative coins under its scope, the Indian authorities will first seek comments from the public, a senior government official opined. It Might Not Be This Winter At the end of November, the government of India revealed plans...
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Leading Spanish Cryptocurrency Exchange Adds Shiba Inu (SHIB)

Bit2Me – one of the leading exchanges in Spain – announced it now supports Shiba Inu (SHIB). The company listed the popular memecoin because of the massive interest from locals. SHIB Crosses The Spanish Borders Shiba Inu saw the light of day last year but became highly popular in 2021 as the memecoin craze, propelled...
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Indian Crypto Unicorn CoinDCX to Go Public Pending Regulatory Clarity

CoinDCX – one of the leading cryptocurrency exchanges in India – eyes an initial public offering (IPO) in the near future. The “precise timeline” will depend on the upcoming government regulations. Following The Steps of Coinbase Neeraj Khandelwal – Co-Founder of CoinDCX – revealed the news in a recent interview with Bloomberg. He asserted that...
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Crackdown in India Continues With Crypto Ban Planned for the Winter

India is looking to ban most crypto assets when it introduces a new bill to regulate the industry this coming winter. The agenda for the session lists “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.” The bill also addresses the framework for the official central bank digital currency that will be issued by...
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Floki Inu Becomes Main Sponsor of India’s Football Team Kerala Blasters

Self-proclaimed SHIB and DOGE killer Floki Inu (FLOKI) has secured a major partnership deal with one of India’s top professional football clubs, Kerala Blasters FC, popularly known as The Blasters. Blasters’ Official Sleeve Sponsor In an official announcement made on FLOKI’s Twitter page, the memecoin project said it will become the club’s official sleeve sponsor,...
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Crypto Regulations Instead of a Ban in India by February 2022: Report

The Indian government will reportedly implement a regulatory framework for operating with cryptocurrencies by February next year. Instead of a complete ban, this time, the authorities will debate whether to accept bitcoin and the altcoins as an asset class. India’s U-Turn The world’s second most populated nation is one of the fastest-growing markets for cryptocurrencies....
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India Reportedly Considering Taxing Gains from Cryptocurrency Trading

The Indian government continues with its indecisive approach towards the crypto industry. A recent report claimed that the authorities plan to implement new taxation on gains from digital asset operations instead of the recently-discussed ban. Citing sources familiar with the matter, the Economic Times reported that India is contemplating taking a different approach to the...
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Indian Regulator Set to Roll Out Blockchain System for Monitoring Financial Instruments

India’s securities and commodity market regulator, the Securities and Exchange Board of India (SEBI) has revealed intentions to increase the use cases of blockchain technology in monitoring financial instruments in the country. Indian Regulator to Adopt Blockchain Next Year In a press release published on the regulator’s official website, SEBI announced it is currently making...
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Indian Government Does Not Want Cryptocurrencies to Take Part in its Payment System

The Indian governing body will reportedly take measures to eliminate the use of cryptocurrencies as part of the country’s financial system. However, the existence of digital assets issued by the State is not threatened. Cryptocurrencies Fund Illegal Activities According to a recent report by The Economic Times, the government of India plans to crack down...
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Indian Olympic Medal Winners to Get Free Bitcoin (BTC) and Ethereum (ETH)

The cryptocurrency platform Bitbns intends to open a systematic investment plan (SIP) in digital assets for Indian athletes who win medals at the ongoing Tokyo Olympics. The exchange will reportedly grant around $2,700 in crypto for gold medal winners. ‘Faster, Higher, Stronger’ And Earn Crypto The Economic Times reported that Indian athletes at the Olympic...
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Solana Announces Exclusive Hackathon for Indian Developers

To support the Indian blockchain development ecosystem, Solana, a high-performance blockchain network, has revealed that it will be rolling out a new hackathon exclusively for Indian developers and entrepreneurs. Solana Unveils Hackathon with Over $80k in Prizes  In a tweet on Tuesday, Solana noted that the hackathon, dubbed “Building Out Loud,” will last for 3...
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Gold-Focused Indians Turned Their Sight to Bitcoin and Cryptocurrencies

The residents of India, known to be a gold-loving nation, increased their digital assets investments from $200 million last year to $40 billion this year. The exponential growth sounds impressive having in mind the hostile crypto restrictions, which the central bank maintains. Indians Admire Gold but Love Crypto The blockchain analysis company Chainalysis reported that...
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Indian Police Arrested ”Crypto King” Who Traded Drugs for Bitcoin

India’s Narcotics Control Bureau (NCB) arrested Makarand Pardeep Adivirkar, better known as the ”Crypto King”, on suspicion of purchasing drugs from the Darknet using bitcoin. Apart from Indian peddlers, the criminal also bought narcotics from European ones. LSD for BTC The NCB announced that it arrested a suspect who allegedly exchanged bitcoin for LSD. He...
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WazirX Reportedly Investigated by India’s Enforcement Directorate

India’s Enforcement Directorate (ED) has purportedly sent a show-cause notice to the founder of the popular exchange – Nischal Shetty, and the director – Sameer Mhatre. The agency has requested the duo to explain suspicious transactions worth nearly $400 million. According to a Reuters report, India’s financial crime-fighting organization, the ED, has contacted the two...
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Change of Heart? India Reportedly Considers Classifying Bitcoin as an Asset Class

After years of controversial history with the digital asset industry, India could be changing its mind again and moving from banning cryptocurrencies to classifying them as an asset class. By citing “top sources tracking the industry,” The New Indian Express reported the latest development earlier on June 10th. The paper reads that the government has...
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RBI Has Conveyed its Cryptocurrency Concerns to the Government, Says Governor

Although the Reserve Bank of India recently issued a new circular clarifying that digital assets are not outlawed in the country, the entity still believes they carry significant risks. As such, the RBI has taken its concerns to the government, asserted the bank’s governor – Shaktikanta Das. The world’s second-most populated nation has always had...
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Reserve Bank of India With Important Clarifications on Crypto Regulations

The Reserve Bank of Inda issued a new circular today, clarifying that although banks and other entities need to carry customer due diligence, cryptocurrencies are not outlawed in the country. Citing media reports that banks and regulated entities have “cautioned their customers against dealing in virtual currencies by making a reference” to a circular that...
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NPCI Refuses to Ban Cryptocurrencies in India: Leaves the Decision to Banks

The National Payments Corporation of India (NPCI) does not intend to block cryptocurrency trading. Instead, it plans to leave the decision to individual banks and thus they can determine their own risk level. NPCI to Pass the Decision to Local Banks The consequences of the COVID-19 pandemic caused colossal damages to the nation and many...
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Hackers Sell Off Personal Information for 10 Bitcoins After Hacking Domino’s India

Jubilant Foodworks, the organization that operates the franchise of Domino’s Pizza in India and several other countries, have reportedly experienced a significant data breach. The hackers offer to sell sensitive information on the dark web, and they asked for a payment of 10 bitcoins. A Security Breach at Domino’s India According to a recent report,...
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WazirX (WRX) Price Soars 250% to ATH Following NFT Platform Launch

The Binance owned WazirX exchange has been enjoying record volumes recently despite the ongoing regulatory uncertainty from Indian politicians. Its native token, WRX, has skyrocketed to a new all-time high on the back of news that the company will be launching its own non-fungible token platform for Indian markets. According to local media, WazirX has...
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