India to reportedly ditch Bitcoin ban agenda in favor of asset classification
Indian state officials are reportedly no longer keen on banning Bitcoin and a crypto regulatory bill may be up for discussion during the Monsoon Session of Parliament. The tide may have finally turned for cryptocurrencies in India as reports indicate a softer stance by the government toward crypto.According to a report by The New Indian Express on Thursday, the government’s hostile stance toward Bitcoin (BTC) appears to be shifting toward more common-sense regulatory policies for cryptocurrencies.According to inside sources quoted by the publication, authorities have dropped earlier plans....
Related News
A director at the International Monetary Fund (IMF) says that crypto regulation is “certainly high on the agenda” for India. “We are trying to come up with global standards for #crypto asset regulations. I think that’s important for India to also adopt,” said the IMF official. IMF on Crypto Regulation in India Tobias Adrian, Financial Counselor and Director of the International Monetary Fund (IMF)’s Monetary and Capital Markets Department, discussed India’s crypto regulation in an interview with PTI Tuesday at the annual spring meeting of....
The Securities and Exchange Board of India may force promoters of initial public offerings to ditch crypto. In what seems to be another anti-crypto move by regulators in India, IPO promoters may soon be forced to sell their crypto holdings before being allowed to participate in raising funds.According to a report by the Economic Times, the Securities Board of India may disqualify IPO promoters from raising funds if they hold cryptocurrencies.This move is reportedly an extension of SEBI’s instructions to securities lawyers, merchant banks, and other stakeholders in the IPO ecosystem....
Authorities in India are reportedly weighing up options concerning crypto regulations in the country. India’s government is reportedly reviewing modalities for banning or regulating cryptocurrencies in the country.According to Bloomberg Quint, reports indicate that the government is in talks with financial regulators and industry stakeholders to examine the provisions of an earlier proposal that effectively called for a blanket prohibition of crypto in India.Back in February, several reports out of India stoked fears of a possible crypto ban that has so far failed to materialize. Instead,....
India is reportedly working on a new way to regulate cryptocurrencies. “The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases,” according to a report. How India Will Regulate Cryptocurrencies India is reportedly planning to regulate cryptocurrencies as commodities based on use cases. “The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases,”....
Ethereum is ready to ditch mining in favor of using a proof of stake model, according to Bloomberg. Ethereum’s developers want to put a proof of stake model, called Casper, into place by the end of the year. For Ethereum to realize the potential that companies such as IBM, Microsoft and JPMorgan see in its blockchain to reshape modern business and finance, it has to achieve wider adoption and become a de facto standard. More Secure, Scalable And Usable. Replacing mining will make Ethereum more usable, secure and scalable, said Vlad Zamfir, who has worked on Casper since 2014. Blockchain....