Slow, but not steady: India’s stance on Bitcoin and crypto is evolving
India’s regulatory stance on crypto has been shaky at best and prejudiced at worst, but what is India actually doing about crypto? India’s reserve bank has long since condemned the use of cryptocurrencies, but other than the Supreme Court striking down its 2018 bill last year, the Indian government’s stance on cryptocurrencies has been largely uncertain. On one hand, top sources tracking the government’s stance say it has shifted away from the idea of a complete ban. On the other hand, more banks have started barring cryptocurrency-related businesses from accessing their services,....
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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.....
Perhaps plans around the digital rupee will enlighten India’s government, helping the legal stance of builders for bitcoin.
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Over the past month or so, we have seen Bitcoin's price leave the comfortable range of $10 to $14 that they had been at for nearly four months and embark on a steady course upward that has almost precisely doubled its value since then. The long road up first started on January 6 when, several days after striking the January 1 low of $13.16, the currency began a slow and steady rise of about $0.15 per day. But it did not really pick up until January 16, a point a few days after the currency broke through $14 for the first time since August where Bitcoin's value spiked up suddenly to about....
Regulators are still figuring out how to oversee crypto, but some recent judicial rulings show promise for the industry’s legal battles with the US Securities and Exchange Commission (SEC). Bill Morgan, an attorney representing Ripple in its protracted legal battle with the SEC, has been vocal about the evolving judicial stance on crypto. His recent comments underline […]