Will India Create Regulatory Clarity For Bitcoin?
Perhaps plans around the digital rupee will enlighten India’s government, helping the legal stance of builders for bitcoin.Indian founders working on bitcoin exchanges and traders face a whole gamut of questions every day, ranging from “Will I be arrested?” to “Will my company be shut down?” to “Will my bank accounts be frozen?” Understanding the country's regulations and navigating the legal roller coaster can be tricky. To illustrate, the following timeline of events pertaining to the country's stance on regulating bitcoin from the past couple of years is revealing.In 2018, the Reserve....
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India's largest mobile payments platform, Paytm, would consider Bitcoin offerings if India provided regulatory clarity on Bitcoin and crypto.
A number of Indian Bitcoin companies have come together to form the Digital Asset and Blockchain Foundation of India (DABFI). Bitcoin has been remarkably gaining ground in India after the botched up demonetization carried out by the Indian government in November 2016. According to the Times of India, Nishith Desai Associates, an international law firm has been hired to develop “self-regulations” for the industry. No clear regulatory framework in place. The new for self-regulation for the industry arises primarily because there is still no clarity on the legal status of Bitcoin in India. As....
According to Xiaomi India managing director Manu Jain, cryptocurrency is an “extremely interesting” area that is doing “exceptionally well.” Xiaomi India — the subcontinent's branch of the major mobile phone manufacturer — is interested in the cryptocurrency industry, but needs regulatory clarity from the government.The firm's managing director, Manu Jain, said in an interview with The Economic Times, “We will want to wait for all the regulatory things. Of course, crypto is an area, which is extremely interesting, and is the biggest buzzword and is doing exceptionally well. But, we would....
Grayscale’s Head of Research, Zach Pandl, has stated that crypto assets like XRP could see a repricing once the CLARITY Act provides regulatory clarity. The analyst indicated that the altcoin could be among the tokens that benefit the most, especially if it becomes less inflationary. Pundit Agrees XRP Could See Repricing With CLARITY Act In […]
India has been in the headlines lately concerning the cryptocurrency Bitcoin and blockchain technology. Just recently the Reserve Bank of India (RBI) said that blockchain technology would “transform financial markets,” which is a good sign for the region. The country is very tech oriented and much of the globe’s IT workforce is from India. However,....