Investors Flock to India’s DeFi Scene Months After Central Bank Ban Overturned
DeFi protocols UniLend Finance and PlotX announced Tuesday they had both successfully completed their seed rounds.
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The bank still claimed that government bodies and regulators in India are both “skeptical” and “apprehensive” about crypto. Less than a year after the Indian supreme court overturned the Reserve Bank of India’s ban on crypto businesses, and the bank’s position on digital assets is looking slightly more bullish.According to a booklet on payments released today by the Reserve Bank of India, or RBI, the bank is “exploring the possibility as to whether there is a need for a digital version of fiat currency.” The bank added that if it found a need, it would look into ways to put digital....
India’s largest bank by assets, the State Bank of India (SBI), will be the first in the country to embrace branch-less banking by launching its digital-only bank, SBI Digi Bank. The move by India’s largest bank is significant, in a country that is exhaustingly reliant on banking at physical locations. The digital bank will see a launch sometime in the next 3-6 months, according to a report in Indian daily the Economic Times. The country’s largest lender is initiating its 100% digital banking endeavor within months of an unprecedented demonetization drive enforced by the Indian central....
RBI Governor Shaktikanta Das has warned that the crypto market may crash and small investors will lose money. He added that the central bank believes that its warnings have deterred many people from investing in cryptocurrencies. RBI Governor’s Crypto Warnings The governor of the Indian central bank, the Reserve Bank of India (RBI), Shaktikanta Das, warned about investing in cryptocurrency in an interview with ET Now earlier this week. Noting that the RBI has cautioned investors on several occasions about the risks of investing in crypto, Das said: “I’m happy that we....
The Central Bank of Ecuador is planning to issue cryptocurrency-specific regulation later this year. According to statements from Guillermo Avellan, the manager of the Central Bank of Ecuador, this will bring more clarity to the cryptocurrency scene in the country, and will contribute to preventing crimes such as money laundering.
Central Bank of Ecuador Has Eyes Set on Crypto
The Central Bank of Ecuador is planning to prepare and issue cryptocurrency-related regulations this year. The announcement was made by Guillermo Avellan, manager of the Central Bank in an interview on....
India’s Central Bank, the Reserve Bank of India, is soon to commence the launch of its CBDC, which is the Central Bank Digital Currency aimed at specific use cases. The Reserve Bank of India has stated that there could be “multiple technological options which shall be tested and, based on the outcomes, the final architecture […]