Launch of Indian Digital Currency Laxmicoin Postponed Following Raids
The launch of an India-focused digital currency, Laxmicoin, has been suspended by its co-founders, following the Reserve Bank of India's (RBI) raids on bitcoin exchanges in December last year. While some bitcoin exchanges are once again operating and digital currencies are gaining traction in major Indian cities, Laxmicoin founders Mitts Daki and Raj Dangi say they are adamant about not moving forward with the launch of their new currency until the RBI gives them the green light. Daki, who is based in Silicon Valley, revealed that one of the reasons for the suspension is that some of the....
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Laxmicoin, digital currency named after the Indian goddess of wealth, is being delayed by its creators until the Reserve Bank of India (RBI) gives its official clearance to do so. If you’ve been reading CoinTelegraph long enough then you know the India’s officials’ attitude towards Bitcoin and cryptocurrencies in general. To put it shortly – negative as hell, going as far as raiding crypto-oriented companies stationed in India to find the guilty and punish the found. This witch-hunt in the last week before the last New Year’s Eve has discouraged many crypto-enthusiasts from the Bitcoin....
Just a few days after the Reserve Bank of India (RBI) issued adigital currency warning, Indian authorities started cracking down on local bitcoin exchanges. Within two days the first raids were carried out, although the owners of the platforms were not arrested and, at present, it does not appear that they have been charged with any crime. The raids were carried out by India's Enforcement Directorate, but now it seems that their colleagues at the Income Tax Department are just as keen to flex their muscle on digital currency outfits. The Hindu reports that taxmen paid a visit to....
The Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech.
RBI’s Digital Currency, the Digital Rupee, Coming Soon
India’s finance minister, Nirmala Sitharaman, announced Tuesday while presenting the federal budget 2022 in Parliament that the Reserve Bank of India (RBI) will issue a central bank digital currency (CBDC) in the new financial....
A spokesperson for the Central Bank of Nigeria (CBN), Osita Nwanisobi, has said the launch of the much-hyped e-naira central bank digital currency (CBDC) has now been postponed to a later date. Nwanisobi’s announcement came less than 24 hours before the CBN was scheduled to launch the digital currency. Launch Date Clashes With Nigeria’s Day of Independence In a Facebook post that reveals the reasons behind the deference, Nwanisobi points to the clash of the CBDC’s launch date with Nigeria’s day of independence. According to the post, the spokesman explained....
Unocoin, the Indian Bitcoin exchange platform has announced the launch of its APIs for international customers. The Indian Bitcoin sector has come of age. Unocoin, one of the country’s “Big Four” Bitcoin exchanges has today announced the launch of a robust API for businesses. According to the company’s latest press release, the new Application Programming Interface (API) will allow companies across the world to gain access to the Indian Bitcoin market. The Bitcoin sector in India has so far been a closed market, with most services confined to the domestic population. By using the Unocoin....