![India’s ruling party hit with $763M crypto scam claims India’s ruling party hit with $763M crypto scam claims](https://coingeek.com/wp-content/uploads/2018/07/indias-ruling-party-hit-763m-crypto-scam-claims-380x188.jpg)
India’s ruling party hit with $763M crypto scam claims
The governing political party in India, the Bharatiya Janata Party (BJP), has been accused of involvement in a “mega bitcoin scam” worth INR5,000 crore ($763 million).
The governing political party in India, the Bharatiya Janata Party (BJP), has been accused of involvement in a “mega bitcoin scam” worth INR5,000 crore ($763 million).
Indian cryptocurrency exchange Zebpay has halted deposits and withdrawals in Indian rupees, ahead of the pending ban on cryptocurrency businesses that came into force on Thursday.
Banks will be banned from engaging in cryptocurrency-related companies starting July 5, 15 days before the Supreme Court hearing on whether the ban is unconstitutional.
Belfrics has also added four more cryptocurrencies—Bitcoin Cash, Ether, Ripple and Litecoin—to its platform.
Coinsecure announced that customers affected by the April cryptocurrency theft only have until June 30 to file their claims.
The Kerala Development and Innovation Strategic Council (K-DISC), will use the technology to manage the purchase and distribution of a number of goods, including fish, vegetables and milk, among others.
The Reserve Bank of India admitted it issued a ban against cryptocurrencies without fully understanding the industry.
The alleged scam involved the Flinstone Group, a real estate company that allegedly promised to give investors flats and citizenship in Africa and the Caribbean countries. The company also had a cryptocurrency named MoneyTrade Coin.
The government of India has rejected the state-backed Petro cryptocurrency despite Venezuelan President Nicolas Maduro’s offer of a 30% discount if India uses Petro to pay for its crude oil purchases.
The Telecom Regulatory Authority of India (TRAI) has found another use for the blockchain—helping to stop unwanted telemarketing phone calls and text messages.
An 18% tax is being examined on all cryptocurrency trading by India's Central Board of Indirect Taxes and Customs, according to reports.
The Supreme Court issued an order that moves all pending petitions linked to the CoinRecoil’s suit against the Reserve Bank of India to the top court.