Industry Report: India’s Druggies Turning to Bitcoin
Andreas Antonopoulos speaks with Joe Rogan (again), digital currency becomes a TV star, and the first case of Bitcoin-based drug trafficking is detected in India. Want to catch up on your latest digital currency news? Have a look at the stories below. Andreas Antonopoulos is set to make his fourth official appearance on the “Joe Rogan Experience” in September. “I have been invited to go on the Joe Rogan Experience podcast for the fourth time,” Antonopoulos said in a Reddit post. “Please join me, live, on September 7th. The JRE podcast now has almost double the audience it had last time I....
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Following last week’s public notice by the Reserve Bank of India (RBI), the country’s central bank, that warned Indians about using virtual currencies like Bitcoin, the still-nascent but growing industry has banded together to form the “Blockchain and Virtual Currency Association of India.” India’s leading bitcoin companies that include the likes of Unocoin, Coinsecure, Zebpay and SearchTrade have come together to form a new industry association that is currently under the process of a formal registration. According to a report in India’s biggest business daily, the Economic Times, the....
The popularity of Bitcoin in India has seen an exponential rise, according to the Hindustantimes. The report details that more users in the region are using the cryptocurrency to pay mobile bills and vouchers for online shopping. With Businesses like Unocoin, Zebpay, and Coinsecure at the helm, the country will continue to get an influx of Bitcoin....
The deputy governor of the Reserve Bank of India has said that banks need to go digital in the face of FinTech or they could risk becoming obsolete as the industry continues to grow. According to a report from Bloomberg Quint, SS Mundra said, to an audience at the College of Agricultural Banking, that banks shouldn’t see financial technology companies as a threat, but that the two should work together to help under-served and credit-starved micro and small enterprises (MSMEs). He said: An estimate suggests that at present almost 93 percent of such (micro) units are outside the formal....
Indian officials are switching their stance on crypto, but the country’s regulatory environment may have additional bottlenecks in store. For most of the last decade, India’s stance on cryptocurrencies has been uncertain, to say the least. The current soft ban is hurting the country’s potential every day, but recent reports suggest the country is having second thoughts.In March this year, a notification published by the Ministry of Corporate Affairs stated that companies dealing in cryptocurrencies would have to disclose their holdings to the government in financial statements.....
The overturning of India’s cryptocurrency ban has made the market a focal point for Bitcoin projects, with outside capital looking to take advantage. The post The Rush To Own India’s Bitcoin Market Is Back On appeared first on Bitcoin Magazine.