In the presentation, senior officials highlighted the issue of trackability of transactions, valuation of cryptos, the extreme price volatility, legal issues and identifying the various actors in the crypto transaction chain as areas of concern. Among the board members Revathy Iyer (former deputy comptroller & auditor general) expressed the need to proceed with caution. However, … Read more
The Centre has not received a proposal to recognise bitcoin as a currency in India, the government told Parliament on Monday, while adding that the Reserve Bank of India has recommended widening the definition of “bank note” for the launch of a Central Bank Digital Currency (CBDC). Responding to a question on whether the government … Read more
The family of a deceased man, David Kleiman, is claiming their family member helped create the popular digital currency and is suing Kleiman’s alleged business partner in the endeavor, Craig Wright, for half of Satoshi Nakemoto’s 1.1 million cache of Bitcoin. For the past five years, Wright has been claiming on and off that he … Read more
A bill to prohibit all private cryptocurrencies in India, with certain exceptions to promote the underlying technology and its uses, is among 26 bills to be introduced in the upcoming winter session of Parliament. Titled ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’, it is among the list of new bills for introduction, … Read more
Personal-trading policies at banks largely allow crypto investments without any sort of compliance check-ins first. Young bankers are piling into crypto investments. Banks have strict rules around personal investments, but crypto trades go largely untracked. But that could change as firms get more involved in digital assets. Seth, a 22-year-old investment-banking analyst in Chicago making … Read more
Governor Shaktikanta Das reiterated his views against allowing cryptocurrencies saying they are serious threat to any financial system since they are unregulated by central banks. The monetary authority on Wednesday again reiterated its strong views against cryptocurrencies saying they pose serious threats to the macroeconomic and financial stability of the country and also doubted the … Read more
China’s declaration that crypto-transactions are illegal drove down bitcoin and other digital currencies Friday. China, however, didn’t ban possession of digital currencies, which likely prevented deeper losses. The central bank warned of criminal investigations into people suspected of buying and trading cryptocurrencies. See more stories on Insider’s business page. China took its most forceful action … Read more
Robinhood Markets Inc is testing new crypto wallet and cryptocurrency transfer features for its app which would allow customers to send and receive digital currencies such as bitcoin, Bloomberg News reported on Monday. A beta version of its iPhone app showed the company’s work on such features, the report said. There was also a hidden … Read more
You announced on Thursday that the government will provide ₹30,600 crore in guarantees to the National Asset Reconstruction Co. Ltd to buy ₹2 trillion of bad loans from banks. This will be in a 15:85 split, with NARCL offering banks cash for 15% of the value of assets and issuing security receipts for the rest … Read more