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CATEGORY: reserve bank of india


Binances return to India comes with $86M tax demand

Author: Cointelegraph by Shiraz Jagati
United States
Aug 21, 2024 12:00

Binances return to India comes with $86M tax demand

While Indian AML agencies have given Binance the green light to resume operations, authorities are still seeking $86 million in tax liabilities from the firm.

Bybit introduces Indian digital rupee CBDC payment option

Author: Cointelegraph by Derek Andersen
United States
Aug 01, 2024 12:00

Bybit introduces Indian digital rupee CBDC payment option

The use of the CBDC on the cryptocurrency exchange will enhance security and, it hopes, attract merchants.

Sep 27, 2024 01:15

Cryptocurrency Industry to Self-Regulate, by IAMAI Board

The IAMAI's Blockchain and Crypto Assets Council would establish a formal board of lawyers, technological experts, and fintech compliance experts to assure self-regulation. Read Full Coverage....

BuyUcoin Blog | By BuyUcoin

Indian Supreme Court raps Union government on crypto rules delay: Report

Author: Cointelegraph By Prashant Jha
United States
Jul 28, 2023 04:45

Indian Supreme Court raps Union government on crypto rules delay: Report

The Supreme Court bench asked the union government to file a report on whether the latter is capable of setting up a federal agency to investigate crypto-related crimes.

Feb 21, 2023 06:55

India UPI expanding services to Singapore


The eight-bank digital rupee pilot programme has processed 770,000 transactions. (Read More)

India in ‘no hurry’ for CBDC as digital rupee pilot onboards 50k users

Author: Cointelegraph By Helen Partz
United States
Feb 08, 2023 04:45

India in ‘no hurry’ for CBDC as digital rupee pilot onboards 50k users

The central bank of India wants to proceed with CBDC testing in the smoothest way possible, deputy governor Rabi Sankar said.

Feb 03, 2023 02:15

Reliance Retail accept digital rupee at one store


Reliance Retail has pledged to assist India's CBDC throughout its companies. (Read More)

Nov 30, 2022 01:20

RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks

India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across India. RBI Picks 8 Banks, 13 Cities to Test Retail Digital Currency The

The post RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks appeared first on BTC Ethereum Crypto Currency Blog.

Nov 22, 2022 06:55

The RBI will pilot retail CBDC in December


The RBI is planning to test the "digital rupee" in retail. Within a month, the pilot will debut. Digital rupees will augment the present payment system, not replace it. Each bank testing CBDC will utilize 10,000 to 50,000 people. (Read More)

Nov 01, 2022 08:00

Reserve Bank of India Unveils the Pilot of its Digital Rupee

RBI hopes to settle secondary market transactions in government securities with the digital rupee pilot use case.

Continue reading Reserve Bank of India Unveils the Pilot of its Digital Rupee at DailyCoin.com.

India’s Reserve Bank Begins its CBDC Pilot Program

Author: Vignesh Karunanidhi
Estonia
Nov 01, 2022 07:15

India’s Reserve Bank Begins its CBDC Pilot Program

On Tuesday, India’s central bank launched a pilot program for its virtual currency, allowing a select group of banks to settle secondary-market trades in government securities. Data from Clearing Corp. of India Ltd. shows that 7.38% of the 2027 debt and 7.26% of the 2032 bonds were among the first to be traded using the […]

Jun 09, 2022 07:05

RBI To Wait For Crypto Government Paper: Central Bank Governor

RBI will wait for the government’s consultation paper on crypto, said governor Das. The statement was made during a press ...

Read More...

India to roll out CBDC using a graded approach: RBI Annual Report

Author: Cointelegraph By Arijit Sarkar
United States
May 28, 2022 08:20

India to roll out CBDC using a graded approach: RBI Annual Report

Halfway through 2022, at the proof of concept stage, RBI is in the process of verifying the feasibility and functionality of launching a CBDC.

RBI warns of crypto 'dollarization' of Indian economy

Author: Cointelegraph By Brian Quarmby
United States
May 17, 2022 08:20

RBI warns of crypto 'dollarization' of Indian economy

Crypto "will seriously undermine the RBI's capacity to determine monetary policy and regulate the monetary system of the country," according to Reserve Bank of India officials.

May 13, 2022 06:45

‘Coinbase Claims Are Incorrect and Misleading,’ Says Experts

Sources claim that the RBI is not targeting crypto exchanges in India. CEO Brian Armstrong had stated that they halted ...

Read More...

Feb 01, 2022 07:15

India Legalizes Cryptos and Bitcoin ON THE MOVE! $BTC 40K NOW??

Big news for the cryptocurrency community! After months of confusion, India, which was one of the countries that banned cryptocurrencies, submits to reality and backs off from its decision. News surfaced about how India legalized cryptocurrencies by imposing taxes. This gives total legitimacy to cryptos and eliminates any confusion around the topic among crypto users. On the other hand, the crypto market started to move upwards, with Bitcoin specifically getting closer to 40K. Where will the Bitcoin price reach? Let's find all the details in this article.

India Legalized Cryptocurrencies!

Back in 2021, the cryptocurrency market fell by more than 15% when India issued a statement banning cryptocurrencies. Today in 2022, India backed off its earlier statement. The country decided to tax crypto activities and put a crypto income tax of 30%.

Not only did they embrace cryptocurrencies, but India also decided to digitize the Rupee and introduce a new digital currency starting April 1, 2022. This news definitely took a positive effect on the cryptocurrency market which saw currently a rise of more than 5% on an aggregate level.

Why was the crash when cryptos were banned higher than the positive news when cryptos were adopted? Well, the crypto market is still considered in a bearish trend. Buyers are still worried about whether they should enter the market or wait for further adjustments. Once the buying volume increases, the market will in turn move higher.

When will Bitcoin Price reach 40K?

With the recent good technical formation of an uptrend and excellent fundamentals thanks to India, the crypto market is in a good place. In figure 1, we can see how Bitcoin retraced from the low of $33,000 and is since then on a healthy uptrend. The $39,000 price was reached earlier today, but prices are expected to consolidate before reaching 40K again. Once we breach this valuation, prices need to remain higher than $40,000 in order to break the bearish market trend. This way, crypto investors will gain confidence in this comeback, and in turn swap their stablecoins to cryptos again.

Fig.1 BTC/USD 2-hours chart showing BTC's uptrend from its low - TradingView

The Cryptocurrency Market is UP

In the past 24 hours, most cryptocurrencies increased in valuations. In figure 2, we can see the chart of the entire cryptocurrency market cap going up. The pattern is very similar to Bitcoin's price-action. In fact, Bitcoin still has a dominance of around 42%. That's why it's natural to see a highly correlated chart between the entire crypto market in general and Bitcoin in specific.

Fig.2 Total Crypto cap in USD 4-hours chart - TradingView

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The post India Legalizes Cryptos and Bitcoin ON THE MOVE! $BTC 40K NOW?? appeared first on CryptoTicker.

India’s top bank calls for complete crypto ban

Author: Oluwapelumi Adejumo
United States
Dec 19, 2021 06:05

India’s top bank calls for complete crypto ban

With authorities in India still unsure on how to deal with the crypto industry, the apex bank of the Asian country has reportedly made it clear that it would prefer the country to tow the China path by completely banning crypto.

The post India’s top bank calls for complete crypto ban appeared first on CryptoSlate.

Dec 03, 2021 10:45

Indian Government Affirms to Regulate Digital Currencies instead of Banning


Affirming the prior speculations on the concerted efforts of the Indian parliament and government to regulate the developing world of cryptocurrencies. (Read More)

Oct 12, 2021 06:45

India Dominates the Crypto Space — Over 10 Million Indians Own Crypto

India has the highest number of crypto owners in the world. Over 10 million Indians own crypto. India also records ...

Read More...

Aug 27, 2021 12:25

India Plans to Launch CBDC Pilot by December 2021

The Reserve Bank of India is studying various aspects of digital currencies.

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