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Bitcoin case study: Aniket Patel is an Indian teenager and cryptocurrency investor who is still working on his school exams. Despite this, Patel spends more time checking the Reserve Bank of India’s (RBI) website than scouting for exam results. This is because Patel considers himself a long term...
Following an incident on February 11th, eight rogue police officers and a lawyer in India’s western state of Gujarat have gone missing after allegedly kidnapping a local businessman and forcing him to transfer 200 Bitcoin — worth about $1.8 million at the time— to an as of yet unidentified...
The Reserve Bank of India (RBI) has explicitly prohibited regulated entities from doing business with any companies dealing in virtual currencies. Last week’s decision raised concerns regarding a full ban on cryptocurrencies, which is not true. The jolted market fears Bitcoin and altcoins will face a drop in...
The State Bank of Pakistan (SBP) has released information that seeks to clarify the bank’s position on digital currencies. Although the statement “advises” both the public and institutions against dealing in the coins, it is not an outright ban. State Bank of Pakistan: Caution Regarding Risk of Virtual...
Just a month after the Indian Supreme Court issued a warning to the financial interests of the nation, “surveys” have begun on nine of the country’s cryptocurrency exchanges. An undisclosed source explained to local news outlet DNA: “We are collecting the name of investors and their transaction details. The survey...
A recent statement made by one of the Indian politicians shows the lack of awareness about the digital currency among many. The politician in question is Kirit Somaiya, a Member of Parliament from the ruling party. He was reported calling Bitcoin a “hypothetical currency” and a “Ponzi scheme”....
Bitcoin and Blockchain are synonymous to each other, for blockchain is the popular cryptocurrency’s underlying technology. After Bitcoin, many alternative cryptocurrencies have come up, which still uses a distributed ledger either similar to or derived from Bitcoin blockchain. However, the US-based blockchain company MonetaGo intends to change that...
The strengthening Bitcoin community in the Indian market has elicited a response from the country’s central bank — the Reserve Bank of India. The Reserve Bank which was started exploring the cryptocurrency technology has responded like any other bank when it comes to Bitcoin usage. The deputy governor...
India now has its own blockchain association with leading Bitcoin companies as its members. The Blockchain and Virtual Currency Association of India recently had its first meeting in Mumbai last week. The Indian cryptocurrency industry is not having it easy. As the cryptocurrency’s adoption across the world increases,...
The Reserve Bank of India, one of the few central banks worldwide that has been skeptical towards the Bitcoin blockchain technology has recently shown interest in the distributed ledger technology and peer to peer financial systems, due to their strengths in settling transactions and clearing assets securely, with...
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