Category: India
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Crypto Can Boost Indian Economy – How Banning Will Hurt it
The Indian economy is experiencing severe economic slowdown not seen in many years, and cryptocurrency can potentially help. However, the government is considering a draft bill to ban cryptocurrencies, which could have undesirable consequences on the economy. Meanwhile, the Indian crypto community has already been enduring a banking ban by the central bank. Also read:…
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Market Update: Economists Envision Global Recession While Crypto Prices Soldier On
[youtube https://www.youtube.com/watch?v=g9Ki7_jt3OM&w=560&h=349] Last week cryptocurrency prices bounced around after a majority of coins dropped in value on August 21. Today on August 26, digital currency markets have gained around 1.52%, gathering $4 billion since the initial slump. Despite the volatility, cryptocurrencies have consolidated and a few speculators believe a breakout is on the cards that…
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India Facing ‘Unprecedented’ Economic Slowdown, Extraordinary Steps Urged
Many signs indicate that the Indian economy is under grave stress, affecting nearly all sectors. “India’s economy is in a deep mess,” due to initiatives such as demonetization and GST, some lawmakers say, as they urge the government to handle the situation “which is intensifying on a daily basis.” Also read: Indian Supreme Court Orders…
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The Push to Kill Cash – Australia’s Proposed Ban Shows It’s Not Conspiracy Theory
The supposed coordination of governments and tech companies to create a one-world, cashless society is often viewed as little more than fodder for silly Youtube conspiracy videos. After all, cash is still king in daily life, even in extremely high-tech, innovative societies like Japan. Upon closer examination, though, current realities like Australia’s proposed cash transaction…
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Indian Supreme Court Orders RBI to Answer Crypto Exchanges, New Date Set
After hearing the arguments against the banking restriction by the Reserve Bank of India (RBI) in detail, the Indian supreme court directed the central bank to reply to the representations filed by crypto exchanges. Since the RBI has not adequately answered them, the court set a new date to resume hearing the case. Also read:…
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RBI Defends Its Power Over Crypto in Indian Supreme Court
The Indian supreme court heard the case against the crypto banking restriction by the Reserve Bank of India (RBI) in detail Tuesday. After many arguments challenging the RBI’s power over crypto were presented, the counsel for the central bank began making the case against cryptocurrency. Also read: RBI’s Power Over Crypto Challenged at Length in…
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Central Banks Worldwide Testing Their Own Digital Currencies
Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden. India has also included the digital rupee in the country’s draft cryptocurrency bill. Also…
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RBI’s Power Over Crypto Challenged at Length in Indian Supreme Court Today
The Indian supreme court resumed hearing the writ petitions against the banking restriction by the central bank, the Reserve Bank of India (RBI), on Wednesday. Many issues were discussed, ranging from the legality of the RBI action to the classification of crypto assets and how each country regulates them. Also read: India to Introduce Crypto…
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India to Introduce Crypto Bill Next Parliament Session – A Look at Community Responses
The Indian government has submitted a draft crypto bill to the supreme court and expressed its intention to introduce the bill in the next parliament session. The court subsequently set a new date to hear the case relating to crypto regulation. Meanwhile, the Indian crypto community has ramped up efforts to influence the government’s final…
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Indian Supreme Court Heard Crypto Case in Depth Today
The Indian supreme court finally heard the crypto case today after postponing it several times. The court addressed the government’s crypto policy as well as the writ petitions challenging the banking restriction by the central bank. The latter was heard in some detail while the former was further delayed at the request of the government.…