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Tag Archives: India

Is India About To Reverse Its Crypto Trade Ban?

On July 20, the Supreme Court of India will hold a hearing regarding the state of cryptocurrencies in the country. It is a decisive date for the local crypto industry that has been significantly suppressed in the past month by the Reserve Bank of India’s (RBI) ban on all banks’ dealings with crypto-related businesses. The hope for an overview of ...

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Ripple Wants to Beat Bitcoin in India, Initially Planned to Giveaway Billions

Ripple (XRP), the largest bank-targeted blockchain protocol, is attempting to take over 50 percent of India’s finance sector by processing payments with low fees and efficient systems. At the Scaling and Digital Disruption in Fintech conference, Ripple Vice President Asheesh Birla, said that the company envisions surpassing the adoption rate of bitcoin to ensure XRP becomes the dominant cryptocurrency in ...

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India May Avoid Cryptocurrency Ban, Classify them as Commodities: Report

Authorities in India are likely to choose against a sweeping cryptocurrency ban and treat them as commodities, a report citing a government official has claimed. Citing a senior government official involved in the ongoing regulatory discussion surrounding cryptocurrencies, Quartz is reporting that India is unlikely to enforce a blanket ban on cryptocurrencies despite the newly-enforced central bank mandate that prohibits ...

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India May Not Ban Cryptocurrencies, But Treat Them as Commodities

India is not going to put a blanket ban on digital currencies, but rather treat them as commodities, an anonymous source in the government told news outlet Quartz July 11. According to Quartz, a Finance Ministry panel has ordered a study on cryptocurrencies, which may suggest that the government would treat them as commodities. A senior government official with knowledge ...

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Ripple Claims its 50% Share in India is Inroad to Global Market

A representative of Ripple recently discussed the company’s strategy which allowed them to capture 50% of India’s crypto market. Ripple has 50% Share of Indian Market Senior Vice President of Product at Ripple, Asheesh Birla, spoke on a panel at the Wharton School of Business about how Ripple went about gaining a majority market share in order to “plant its ...

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India Feeling the Effect of the RBI’s Crypto Ban as Zebpay Halts Fiat Transactions

It’s been a gloomy week for the crypto community in India. After three months of waiting for the Supreme Court to make a ruling on the petitions against the RBI’s directive in April, it finally happened on July 3. The country’s highest court upheld the RBI’s directive that required all financial institutions to exit all relationships they had with crypto-related ...

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India to Trial Blockchain for Fertilizer Subsidy Management

India is undertaking research into the possible use of blockchain technology in the management of fertilizer subsidies. The venture will bring together the country’s think tank, NITI Aayog, and one of the country’s largest chemical manufacturers, Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC). The Indian government hopes that the integration of blockchain technology will make the process more transparent, ...

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Zebpay Exchange Halts Fiat Ops as India Crypto Banking Ban Deadline Looms

One of India’s largest exchanges Zebpay announced it was freezing Indian rupee deposits and withdrawals July 4, a day before a controversial bank ban on cryptocurrency businesses comes into effect. In a warning statement, Zebpay said current events were “beyond its control,” having previously warned users that rupee deposits and withdrawals “could” stop if the ruling from the Reserve Bank ...

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India Crypto Ban | Is the RBI Really Going Through With It?

India crypto ban: According to various media outlets, the Reserve bank of India (RBI) will succeed in its ban on cryptocurrencies starting July fifth. India’s Supreme Court has refused the extension of the grace period in which cryptocurrency entities could continue their banking services. This means that businesses that handle digital currencies will no longer have access to banking services ...

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Ripple Forges into India with the Help of a Major Bank

Ripple has made some major inroads in the world of finance over the past few years. This company is very different from traditional firms, mainly because it taps the potential of digital assets and blockchain technology to achieve its goals. Ripple is continuing to spread across India through a new partnership with Kotak Mahindra Bank. Another Notch in Ripple’s Belt ...

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