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BRICS Coalition Plans to Develop a Cryptocurrency for Settlements Between Members

Posted on November 17, 2019November 17, 2019 by Rehan Yousaf

BRICS, a collaborative group with five members of major emerging nations – Brazil, Russia, India, China and South Africa – has proposed developing a digital currency for payment transactions between these countries. The CEO of Russian Direct Investment Fund (RIDF), Kirill Dmitriev, detailed the developing plan on Thursday at the BRICS forum. RIDF is a $10 billion wealth fund of the country created by the Russian government. The announcement was reported by RBC Group, a…

Venture Capitalist Icon Tim Draper to India: Grow Your Economy with Blockchain & Crypto

Posted on November 8, 2019November 8, 2019 by Julie Williams

The famed entrepreneur and venture capitalist magnate Tim Draper went candid on India’s government in a recent event, dishing out a few foolproof tips to help grow the Indian economy with blockchain and crypto. The pro-crypto Draper acknowledged the incredible potential India’s economy hold and gave kudos to Prime Minister Modi for his effort over the years. He expressed his faith in the current government stating emphatically that honesty and open government are the key…

India’s Defense Minister Calls to Harness Blockchain Technology for Warfare

Posted on November 6, 2019November 6, 2019 by Rehan Yousaf

While addressing a roundtable conference of more than 80 nations, India’s Defense Minister Rajnath Singh, commented on how the country’s armed forces need to be equipped with technologies such as blockchain, AI and big data to counter the continuously changing landscape of modern warfare. Singh elaborated on how the future of security is dependent on digitalization, and that modern warfare is not limited to land or sea. It is now entering the cyberspace too and…

State Bank of India’s Chairman: We Need Cryptocurrency Regulation

Posted on October 29, 2019October 29, 2019 by Rehan Yousaf

The State Bank of India has announced the need to regulate the country’s cryptocurrency market. Rajnish Kumar, State Bank of India’s chairman claims that crypto regulation will help tackle the illegal use of cryptocurrency in the country. The government of India affirmed the progress of a new legislation earlier this year that would completely ban digital currencies. The establishment set sanctions in place for individuals who would violate the new guidelines. An estimated fine of…

India’s Finance Minister Warns Other Nations Against Cryptocurrencies

Posted on October 22, 2019October 22, 2019 by Rehan Yousaf

India is readying itself for a major revision of its cryptocurrency policies. In this regard, it has been approached by officials of many governments who have informed the Indian government about possible global risks associated with digital currencies. India’s finance minister, Nirmala Sitharaman, noted positively that all nations who have raised red flags over the onslaught of digital currencies are in fact following in India’s steps to tread cautiously against cryptocurrencies. When asked to comment…

South Korean Crypto Exchange Bithumb Enters India Despite Anti-Crypto Climate

Posted on October 7, 2019October 7, 2019 by Julie Williams

In what can unarguably pass as restoring hope to India’s crypto investors, the South Korean crypto exchange Bithumb has decided to plant one of its branches in the country. Bithumb, which is currently one of the biggest South Korean crypto exchanges, took a leap of faith and is headed to India to further strengthen the Indian crypto ecosystem. India’s crypto community has been in the news lately, following a proposed anti-crypto bill. According to the…

Cryptocurrency Future Still Uncertain in India over the Proposed Anti-Crypto Bill

Posted on September 18, 2019September 18, 2019 by Julie Williams

There has been a lot of pandemonium in India’s crypto community following the legislators’ attempt to pass an anti-crypto bill that strongly prevents anyone from having any part in cryptocurrency. This includes holding, selling, buying, transferring, and exchanging any type of digital asset. Like most countries, the Indian government is scared of the detrimental effect this new class of virtual assets brings to the table. Although famed for its ease and money-making potential among others,…

Experts Call for Crypto Legislation in India to Enhance Economic Growth

Posted on September 10, 2019September 10, 2019 by Rehan Yousaf

Crypto experts are willing to bet their buck on the potential for crypto regulations in India that are poised to create economic opportunities for India whose economy is in a recession with increasing unemployment rates and a GDP growth rate that is decelerating. Think tanks in the country are converging on the idea for enhanced crypto regulations in the country in a bid to improve the flailing economy. Much to the disappointment of many crypto…

Man Tortured and Murdered for $62 Million in Bitcoin in India

Posted on September 4, 2019September 4, 2019 by Rehan Yousaf

In an incident not heard of before, a 35-year-old was murdered over a large haul of Bitcoin (over $60 million) in Kerala, India. Hospital management told the police that the victim’s body was found in a car that was abandoned by 4 men in the hospital’s parking lot on August 28th. Initial investigation revealed the name of the victim as Abdul Shakoor. The injuries on his body indicated that he was tortured to death. As…

India’s Police Arrests 4 Crypto Scammers for Defrauding 1,500 Victims in 22 Countries

Posted on August 7, 2019August 7, 2019 by Ravi Rd

Recently, a scam in India was reported to the local Madhya Pradesh Police in which four people are accused of setting up a fake cryptocurrency exchange and manipulating the prices to lure in investors from no less than 22 countries. According to the Special Task Force (STF) of Madhya Pradesh Police, the fraudsters have fooled 1,500 innocent crypto investors from 22 countries and stolen at least Rs. 100 crores (about $14 million) from them. The…

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