India is Considering a Ban on the ‘Use’ of Cryptocurrencies

After months of public uncertainty bought on by years of deliberation by the Indian government, authorities have discussed the framework to legally ban the usage of ‘private’ cryptocurrencies like bitcoin. In the 19th meeting of the Financial Stability and Development Council (FSDC) headed by India’s finance minister Arun Jaitley on Tuesday, the subject of cryptocurrencies […]

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Hitachi Partners India’s Largest Bank for Digital Payments Push

Hitachi Payments is entering a joint venture with the State Bank of India, the country’s largest bank, to establish a digital payments platform The collaboration sees Hitachi Payments, the wholly-owned Indian payments subsidiary of 108-year old Japanese conglomerate Hitachi, join the State Bank of India (SBI) in developing a sweeping digital payments platform with applications in […]

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India’s Supreme Court Seeks Gov’t Report on Cryptocurrency in 2-Week Deadline

India’s Supreme Court, the country’s apex court, has directed the central government to present its official stance on cryptocurrency within two weeks. In a telling move that seeks to end the ambiguity over the legality of cryptocurrencies like bitcoin in India, the government has been ordered to release its report on the cryptocurrency sector by […]

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U.S. Asks Indian Authorities to Seize Property of BitConnect Promoters

News of cryptocurrency investment fraud has hit the community again, as authorities of two U.S. states, Illinois and Arizona, have asked the Criminal Investigation Department (CID) in India to seize the property of several BitConnect promoters, per reports from the Times of India. BitConnect was an open-source cryptocurrency and an investment program accused of running […]

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Indian Police Arrest Asian Chief of Multi-Billion Crypto Scheme Bitconnect

A high-ranking promoter of Bitconnect has been arrested at the Delhi airport India for his involvement in the alleged multi-billion dollar Ponzi scheme that blew up earlier this year. Bitconnect was touted as a multi-level marketing venture wherein a trading bot would generate revenue for investors over time. Funds would be deposited, locked for a time with no […]

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India’s Supreme Court Sets September Date for Final Cryptocurrency Petition Hearing

India’s Supreme Court has upheld the central bank’s directive of prohibiting banks from offering services to the domestic cryptocurrency sector following a hearing today. On Friday, India’s Supreme Court held its latest hearing of the case against the Reserve Bank of India’s (RBI) circular forbidding all regulated financial institutions, including banks, to provide services to […]

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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 […]

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Crypto Exchange Coinsecure Says Theft Probe Is Holding Up Refunds

Coinsecure is still unable to repay its customers following a debilitating theft last month, the India-based cryptocurrency exchange said over the weekend. The exchange – which lost nearly 440 bitcoins in mid-April in an incident that has been publicly blamed on a “rogue” employee –  announced on April 29 that while it previously hoped to […]

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Central Bank Cryptos, Vitalik Trolls and Hard Forks: This week in Crypto

Join our community of 10 000 traders on Hacked.com for just $39 per month. Make sure you check out last weeks post here, now let’s go over what happened in crypto this week.  Price Watch: Bitcoin is up 3%  this week gaining back some of the 20% it lost last week. The price was largely sideways […]

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Indian Startup Launches Blockchain Exchange for Stressed Assets

Primechain Technologies, a Mumbai-based startup that operates India’s BankChain consortium, has launched a blockchain system for the trading of so-called “stressed” assets. The project, built on a blockchain called Primechain-ASSET, will see the creation of an exchange for selling and buying stressed assets, said Sudin Baraokar, innovation adviser at State Bank of India, a member of BankChain. Stressed […]

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