Category: Reserve Bank of India

Bitcoin Tops $11,000 Reigniting Interest in India

Bitcoin Tops $11,000 Reigniting Interest in IndiaA resurgent bitcoin is rekindling Indian interest in cryptocurrencies with reports suggesting many dormant holders are back to trading. A report in Livemint is also attributing the piqued interest to a recent Indian supreme court decision to overturn a prohibition that barred banks from dealing with cryptocurrency exchanges. The ban was imposed by the Reserve […]

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Covid-19 Forces Indians to Embrace Digital Payments but Country Still Lacks Crypto Regulation

Covid-19 Forces Indians to Embrace Digital Payments but Country Still Lacks Crypto RegulationThe global pandemic Covid-19 is forcing Indians to resort to digital payment platforms when settling bills as well as paying for groceries. Before the Covid-19 outbreak, Indian citizens largely ignored a 2016 government decree that attempted to achieve the same, reports The Economic Times of India. The news site reports that the value of transactions […]

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RBI Confirms No Ban on Cryptocurrency Exchanges, Businesses or Traders in India

RBI Confirms No Ban on Cryptocurrency Exchanges, Businesses or TradersIndia’s central bank, the Reserve Bank of India (RBI), has confirmed that there is no longer any banking ban on crypto exchanges, companies, or traders. This follows the supreme court decision to quash the RBI circular prohibiting banks from providing services to any customers dealing in cryptocurrencies. The ban lasted for almost two years. RBI […]

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How Popular Is the Dark Web in India? A Look at Increasing Tech Use and Free Market Potential

How Popular Is the Dark Web in India? A Look at Increasing Tech Use and Free Market PotentialNow that the Reserve Bank of India’s banking ban on cryptocurrencies has been lifted by a recent Supreme Court decision, there is reinvigorated interest in bitcoin within the South Asian nation. Exchanges can reconnect to banking institutions and offer the support they formerly did to their customers. But what about those who prefer to continue […]

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Indian Prime Minister Modi Awards Young Entrepreneur for Cryptocurrency App

Indian Prime Minister Modi Awards Young Entrepreneur for Cryptocurrency AppIndia’s Prime Minister Narendra Modi has awarded a young entrepreneur for her cryptocurrency price tracking application while the government is still deliberating on the country’s crypto policies. News.Bitcoin.com caught up with the award recipient to find out more about her app. Meanwhile, the Reserve Bank of India (RBI) is being challenged in the supreme court […]

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Panic Withdrawals at Indian Bank Over Alarming KYC Notice

Panic Withdrawals at Indian Bank Over Alarming KYC NoticeHundreds of customers went on a withdrawal spree after an Indian bank announced its revised KYC requirements. The bank’s action followed the decision by the Reserve Bank of India (RBI) to include the National Population Register letter as a valid KYC document for opening bank accounts. Customers are worried their funds could be frozen. Also […]

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Indian Supreme Court Warms Up to Crypto – RBI’s Arguments Not Convincing

Indian Supreme Court Warms Up to Crypto - RBI's Arguments Not ConvincingIndia’s supreme court heard the crypto case on Thursday, starting with the arguments by the counsel for the Reserve Bank of India (RBI). After pointing out that the RBI ban only hurts crypto businesses but does not stop crypto trading, the court explained that “being an honest contributor to the blockchain is more profitable than […]

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Crypto vs RBI: Exchange Counsel and RBI Take Center Stage at Supreme Court Today

India’s supreme court spent all day on Wednesday hearing extensive arguments from both the counsel representing crypto exchanges and the central bank, the Reserve Bank of India (RBI). The counsel for the central bank confirmed again that cryptocurrency is not banned in India, but still justifies the banking restrictions on the crypto industry. Also read: […]

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RBI Confirms Crypto Not Banned in India

RBI Confirms Crypto Not Banned in IndiaThe Reserve Bank of India (RBI) has confirmed that cryptocurrency is not banned in India. During the latest supreme court hearing of the crypto case, the central bank’s reply to the Internet and Mobile Association of India was read out in detail. The RBI clarified that it only fenced in the entities it regulates, such […]

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Crypto vs RBI: 3 Days of Intense Supreme Court Hearings

Crypto vs RBI: 3 Days of Intense Supreme Court HearingsIndia’s supreme court heard the crypto case in detail over three consecutive days this week. In addition to intense arguments against the central bank having the power to ban crypto, the judges learned how other countries regulate this new sector, the amended EU directive, the FATF guidance, and less invasive crypto measures. Also read: Regulatory […]

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RBI Governor Discusses Crypto and Central Bank Digital Currency

RBI Governor Discusses Crypto and Central Bank Digital CurrencyThe governor of the Reserve Bank of India (RBI), Shaktikanta Das, spoke about cryptocurrency during a press conference on Thursday. He also talked about the prospect of an RBI-issued digital currency, when the time will be right for issuing one, and his view on private digital currencies. Also read: Indian Supreme Court Wraps up Crypto […]

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