Is India Cracking Down on Bitcoin?
Unocoin, a trading platform in India, has reportedly been at the center of an intensifying debate in India over the legality and regulation of Bitcoin. The trading platform portends to be India's Bitcoin Exchange, and has shut down once before due to uncertainties over Bitcoin in the country. According to a BitcoinTalk Bitcoin Forum Hero Member, Dashingriddler (OP), who claims to be affiliated with the Unocoin team, the company's directors were asked to visit their local authorities this week. As OP writes, The officer is bothered about bitcoins coming to India bypassing the regulated....
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India is just not that into crypto these days. Or, perhaps, not yet. Nirmala Sitharaman, India’s finance minister, revealed last month that the Reserve Bank of India will deploy a digital rupee sometime in the fiscal year 2022-2023. India will become one of the largest economies to launch a central bank digital currency if the […]
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....
Bitcoin is taking off around the world. Specifically, there is much potential for growth in Southeast Asia, in particular in a nation with the second largest population in the world: India. I had the privilege of speaking with Sunny Ray who is active in the Bitcoin community in Bangalore, India, Nilam Doctor, CEO of Real Bitcoins, and Harsh Patel, proactive member of the Bitcoin Foundation Education Committee who is located in Mumbai. The Bitcoin community in India is continuing to expand. Sunny Ray is currently involved in theunocoin project and serves as an integration partner with....
India is now the world’s fifth-largest economy after surpassing the U.K., the latest data from the International Monetary Fund (IMF) shows. India’s former chief economic advisor expects the country to become the world’s third-largest economy by 2028-30.
India Becomes 5th Largest Economy in the World
India has leaped past the U.K. and become the fifth-biggest economy, Bloomberg reported Friday, citing IMF’s GDP data and historic exchange rates. According to this estimation, India surpassed the U.K. in the last quarter of 2021 and is now behind....
Coinbase is focusing on growing the crypto and Web3 ecosystem in India. “Combined with India’s world-class software talent, we believe that crypto and web3 technology can help accelerate India’s economic and financial inclusion goals,” said CEO Brian Armstrong.
Coinbase Expanding in India With Web3 and Crypto Push
The Nasdaq-listed cryptocurrency exchange Coinbase revealed its plan for India Monday. “India has built a robust identity and digital payments infrastructure and implemented it at rapid scale and speed,” CEO Brian Armstrong....