Kumaraguru Ramanujam and Rohan Sharan are both appointed as Bitcoin Association Ambassadors for India, bringing the total of number of Bitcoin Association Ambassadors to 27 representing 26 countries and territories.
The Bitcoin trial of the century—Kleiman v Wright—continues with no verdict in sight. Judge Beth Bloom issued an Allen charge after the jury told the court they were struggling to agree on a decision.
The Indian government is still adamant that Bitcoin is not a currency, with its finance minister clarifying that the government doesn’t collect Bitcoin transaction data.
The government’s decision would mean that while digital currency would be accepted as virtual currency, buying and selling would be regulated and monitored using the goods and services tax (GST).
Central Bank President Julio Velarde said the government is partnering with countries with more advanced experience in developing its central bank digital currency, such as India, Singapore, and Hong Kong.
India plans to launch its first digital rupee pilot in first quarter of fiscal year 2023, with the slow implementation giving the central bank more assurance.
Prime Minister Narendra Modi has hinted at the plans of the Indian government to take “progressive and “forward-looking” steps on the future of digital currency in the country.
Paytm believes digital currency offers a lucrative opportunity but is hesitant to get into an industry that has yet to be regulated and was once banned by RBI.
The latest iteration of the bill treats digital currency as a commodity, and the government has also pledged to set up a new committee to look at how digital currency income can be taxed.
The securities regulator reiterated its stance that investment advisors must not engage in buying and selling of unregulated assets such as digital gold.
The right-wing group has urged the Modi government to police streaming platforms like Netflix and digital currencies for the larger good of the society.
Job postings related to digital currencies and blockchain have shot up in India, with data by Indeed showing 37% and 76% rise in supply and demand, respectively.
