MasterCard Indian Government of Protectionism in Favor of Native RuPay

Twitter Facebook LinkedIn Reuters reports that Mastercard has formally complained to the US government that the Indian government is deliberately promoting domestic payment networks over international ones like Mastercard and that the Prime Minister, Narendra Modi, has actively used nationalism in promotion of payment processing network RuPay. According to the report, Mastercard and Visa are …

Indian Govt. Panel Could Propose Illegalizing Holding of Unregulated Crypto Assets: Report

It could soon be illegal in the world’s largest democracy to hold cryptocurrencies that lack the government’s seal of approval. According to Moneycontrol, a report which is being prepared by a committee headed by India’s Economic Affairs Secretary, Subhash Chandra Garg, may propose amendments to the existing laws with a view of making it illegal …

Bitcoin Exchanges in India Have Started to Shut Down, It’s Already Late

Earlier this month, CCN reported that the Securities and Exchange Board of India (SEBI) sent government officials to Japan and Switzerland to better understand Bitcoin and crypto-related regulations prior to a supreme court hearing on a crypto trading ban imposed by the country’s central bank. At the time, many investors in India were optimistic towards …

Attackers Hijack Indian Government Websites to Mine Cryptocurrency

Hackers stole the processing power of several Indian government websites to mine cryptocurrencies, researchers found. Citizen portals such as that of the municipal administration of Andhra Pradesh (AP), Tirupati Municipal Corporation and Macherla municipality are among the hundreds of Indian websites that are found to be infected by cryptojacking malware. Cryptojacking, as the term indicates, …

Indian State Government Launches Country’s First ‘Blockchain District’

The government of the Telangana, a southern Indian state, is partnering with a major IT firm to establish a district exclusive to blockchain startups in the state’s capital city. The Telangana State Information Technology, Electronics and Communication Department (ITE&C) has inked a memorandum of understanding (MoU) with multinational IT services giant Tech Mahindra to establish …

Ban U-Turn? India’s Central Bank Admits Cryptocurrency Regulation is Necessary

In a first, India’s central bank has called for the regulation of the domestic cryptocurrency sector during Friday’s hearing at the Supreme Court, weeks after enforcing a banking ban against crypto companies. Earlier in April, the Reserve Bank of India (RBI) issued a circular that forbade all financial institutions – banks included – from offering …

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 …

India’s Supreme Court Refuses to Lift Cryptocurrency Banking Ban

In a ruling today, India’s highest court of law refused to grant any temporary respite against the central bank’s ban on banking services to cryptocurrency exchanges. On April 5, the Reserve Bank of India (RBI) – the country’s central bank – issued a circular to all regulated financial institutions including banks to prohibit them from …

Indian State Kerala to Put Milk and Fish Supply Chains on a Blockchain

Open Positions at CCN: Full Time and Part Time Journalists Wanted. The government of Kerala, a state in South India, is turning to blockchain tech to organize the supply chain process of everyday groceries. The new project will specifically look to streamline the supply chain networks – including distribution – of milk, vegetables, and fish …

Ripple Expects India to Overturn Cryptocurrency Ban with Regulations

Open Positions at CCN: Full Time and Part Time Journalists Wanted. Ripple is reportedly ‘unfazed’ by the Indian central bank’s mandate on restricting banks from dealing with cryptocurrencies and expects a new regulatory framework to rescind the ban altogether. India’s biggest English news daily, the Times of India (TOI), is reporting that crypto and fintech …