Category: India

Elaborate Bitcoin [Bitconnect] Scam Nets $3 Billion in India

The Shailesh Bhatt saga from India’s merchant-dominant state of Gujarat hit new highs last week after the elaborate network of politicians, kidnappers, law enforcement officers, and local authorities unraveled loan sharks. In all, Bhatt’s bitcoin scam is estimated at a mammoth $3 billion, all in BTC. Ruling Party Connections Months before the Indian ruling party…

August 10, 2018
Indian Exchange Zebpay Enables Trueusd (TUSD) Stablecoin Trading

One of the largest cryptocurrency exchanges in India, Zebpay, has enabled Trueusd (TUSD) trading, deposits and withdrawals. The dollar-pegged stablecoin is offered as an alternative to fiat trading which is problematic under the Indian central bank’s ban. Also Read: The Daily: New Education Centers, Vietnamese Ask for Fraudster’s Extradition Zebpay Enables Trueusd Mumbai-headquartered cryptocurrency exchange…

August 6, 2018
Indian State Government Launches Country’s First ‘Blockchain District’

The government of the Telangana, a southern Indian state, is partnering with a major IT firm to establish a district exclusive to blockchain startups in the state’s capital city. The Telangana State Information Technology, Electronics and Communication Department (ITE&C) has inked a memorandum of understanding (MoU) with multinational IT services giant Tech Mahindra to establish…

August 6, 2018
Indian State Partners with Mahindra to Build 'Blockchain District'

An Indian state is working with Tech Mahindra to build a new district within the state capital dedicated to incubating blockchain startups

August 6, 2018
Indians Use Creative Means to Trade Bitcoin Amid RBI Ban

Indian crypto traders have found some creative ways to trade cryptocurrencies, especially bitcoin, to circumvent the crypto banking ban imposed by the country’s central bank. The Reserve Bank of India has banned financial institutions from providing services to companies dealing in cryptocurrency. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Money Finds a Way…

August 2, 2018
India Turns to Discreet Trading Methods to Circumvent Cryptocurrency Ban

The Indian government’s crackdown on cryptocurrencies has not deterred the populace from employing new ways to purchase and trade digital assets. While exchanges have launched peer-to-peer models, a small fraction is resorting to “Dabba trading.” Banning Not Enough As reported on July 30, 2018, by local outlet Business Today, Dabba trading refers to making trades…

August 1, 2018
Indian State Embraces Blockchain Technology to Mitigate Fraud in Government

The Indian state of Telangana looks primed as a blockchain technology forerunner in the subcontinent. On July 26, 2018, state officials signed MoUs with various blockchain startups and consultants to augment the use of the burgeoning technology in administrative services. Bringing Transparency to State Administration As reported by Business Standard, Telangana’s I.T. and Industries head…

July 30, 2018
Huobi Informs Users on Decision to Launch P2P Trading in India

Following several announcements of plans for global expansion, this week crypto exchange Huobi has reportedly informed Indian users of its intentions to present them with a P2P platform that allows trading in Indian rupee. The email notice published by local media promises zero transaction fees for exchanging BTC, ETH, and USDT. Also read: 3 Million…

July 29, 2018
Indian Exchange Postpones Repaying Stolen Bitcoins – No Permission From Authorities

India’s cryptocurrency exchange Coinsecure has announced that it cannot repay customers their stolen bitcoins at this time. The exchange claims that while investigations are underway, permissions are needed from the authorities to start the claims process which it has not yet received. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Repayment Delayed Indian exchange…

June 16, 2018
India To Get 30% Discount On Venezuelan Crude Oil If Paid For In Petro, Says Local Source

A 30% discount for India on Venezuelan crude oil comes with the caveat of payment in Petro, local source reports #NEWS

June 14, 2018