Leading Indian Bitcoin Exchanges Form Association, Aim at Self-Regulation
Leading Indian Bitcoin exchanges including Zebpay, Unocoin and Coinsecure have formed an industry-wide organization called the Blockchain and Virtual Currency Association of India. Earlier this month, the Reserve Bank of India (RBI) released a document designed to warn users against Bitcoin and its apparent risk. The RBI suggested users to actively look into the risk and unpredictability of Bitcoin trading before they initiate in any activities involving Bitcoin or other digital currencies. Saurabh Agarwal, co-founder of Bitcoin trading and wallet company Zebpay stated: “While we have been....
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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....
A prominent Indian law firm Finlaw Associates along with Estonian Crypto Association recently announced its intention to submit a representation to the Indian government regarding cryptocurrency regulations in the country. The representation will be submitted to the Government of India’s Finance and Law Ministries by the last week of February 2021. Currently, the absence of […]
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....
Following last week’s warning about virtual currencies including bitcoin by the Reserve Bank of India (RBI), four bitcoin startups have formed an association aimed to engage with regulators. The Association. Zebpay, Unocoin, Coinsecure and Searchtrade are in the process of registering their newly formed ‘Blockchain and Virtual currency Association of....
Several major global cryptocurrency exchanges are reportedly exploring ways to enter the Indian crypto market. “The Indian market is huge and it is only starting to grow, if there was more policy certainty by now Indian consumers would have been spoilt for choice in terms of exchanges because everyone wants to be here,” said an executive of a crypto firm. Major Crypto Exchanges Want to Enter India Global crypto exchanges are exploring ways to enter the Indian cryptocurrency market, Reuters reported. Four sources told the publication that U.S.-based Kraken, Hong Kong-based....