Indian Government Paper Explores Cryptocurrency for Space Colonies
Blockchains in space? According to one research paper published by an Indian government official, the idea isn’t so far-fetched. Dr Kartik Hegadekatti of India’s Ministry of Railways posits in a new paper, entitled “Extra-Terrestrial Applications of blockchains and Cryptocurrencies”, that the tech could provide the basis for a space-based money in lieu of paper money or physical coins. Hegadekatti works for the ministry's Commercial Department. Hegadekatti has written about cryptocurrencies in the past, exploring how a ‘NationCoin’ could be issued by a country in a paper from August. The....
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India’s economic affairs secretary has reportedly revealed that the government’s consultation paper on cryptocurrency is “fairly ready.” He explained that the Indian government is looking at “a global paradigm on digital assets,” emphasizing that “There has to be a broad framework on which all economies have to be together.”
Economic Affairs Secretary Ajay Seth on Crypto
Indian Economic Affairs Secretary Ajay Seth provided an update Monday on the government’s progress to establish India’s crypto....
Cryptocurrencies will be best suited to be the mainstream means of exchange in future extra-terrestrial settlements, according to a white paper written by Dr. Kartik Hegadekatti, Bangalore divisional commerce manager at the Indian Ministry of Railways and a colleague, Dr. Yatish S. G. The paper, titled “The K-Y Protocol: The First Protocol for the Regulation of Crypto Currencies,” posted on the Social Science Research Network website, contends that regulated sovereign-backed cryptocurrencies (RBCs) will be the most commonly used currencies in societies on other planets settled by humans.....
The Indian Government reportedly will decide and finalise the crypto consultation paper. This consultation paper will comprise inputs from other stakeholders and institutions such as The World Bank and The International Monetary Fund. This will then be sent to the federal government. The idea or the motive behind establishing the document is to ensure that […]
The Indian government is reportedly planning to introduce cryptocurrency regulation by the time of the next general Budget, which is in February next year. Instead of banning cryptocurrencies, like bitcoin, the government is likely to regulate crypto assets as commodities, according to reports. Indian Crypto Law Could Comes as Early as February The Indian government is planning to introduce cryptocurrency regulation in February next year, local news outlet Business Today reported, elaborating: Finance Ministry officials have told Business Today Television that a law for cryptocurrencies....
There are reports that the Indian government may impose restrictions on self-custodial cryptocurrency wallets and only allow Indian crypto exchanges. The CEO of a major cryptocurrency exchange in India has shared his thoughts on the possible restrictions. The Indian government has listed a cryptocurrency bill to be taken up in the current session of parliament.
Possible Restrictions in Indian Crypto Regulation
A cryptocurrency bill is waiting to be heard in the current session of parliament in India. The country’s finance minister, Nirmala Sitharaman, has confirmed that....