India’s Parliament is soon to enter winter session, and many legislators are pushing for the banning of cryptocurrency as a form of payment, but Indian investors could still buy and sell it as an asset. The government is also currently working on a bill that would ban advertising by crypto firms within the country. This would include any platform or exchange on which you could buy or sell cryptocurrency. The Reserve Bank of India, the central bank of the country, is aiding in pushing much of this crypto reform.. They have held numerous closed door meetings in the past few weeks with the government about how to address this issue. …
-
-
India's biggest bank is looking at blockchain as the government plans to ban crypto (Photo: Wikipedia)Blockchain and digital currencies advance in Asia
India’s largest bank has joined JPMorgan’s Liink payments project as central banks from China, Thailand, and the United Arab Emirates join Hong Kong’s multinational digital currency project
The State Bank of India, which manages nearly a quarter of the nation’s assets as well as its loan and deposits market, decided to join JPMorgan’s blockchain payments system. Meanwhiles, the State Bank of India, a nationally owned retail bank, will use JPMorgan’s Liink blockchain system to make its cross border-payments faster and cheaper.
-
Crypto bank Cashaa opens first physical branch in India
The bank will provide clients both traditional and cryptocurrency financial services, as well as credit collateralized by digital assets
Cashaa claims that the branch that it opened in Jaipur, India, in collaboration with local financial services firm United Multistate is the “world’s first physical crypto banking branch.” It aims to open 14 branches in January and increase the number to 100 branches by 2022.
-
‘Very likely’ India’s hostility towards crypto changing: Unocoin CEO
The executive explained that U.S. institutional adoption, the growth of local crypto buyers, and examples set by other countries will likely cause Indian regulators’ view of crypto to change
Unocoin CEO Sathvik Viswanath told Modern Consensus that the situation for the crypto industry in India is not as grim as many believe it to be.
