The instability of the rupee combined with high remittance fees is driving digital currency adoption in India.
India’s central bank has addressed the current ban on banks servicing the sector, noting that “no such prohibition exists.”
An Indian woman has been arrested after she stole 63.5 BTC from a company she cofounded. The culprit left the company in December, only to steal a month later.
India wants to become a global leader in blockchain adoption by 2025, and one of its key targets is a digital rupee to be developed by the Reserve Bank of India.
The Reserve Bank of India has previously refused to work with crypto companies, effectively strangling the crypto sector in India.
The Supreme Court of India had been due to hear evidence on the decision from the Reserve Bank of India to ban cryptocurrency-related business, with a new date set for November 19.
Koinex is bowing out over the regulatory uncertainty around the Reserve Bank of India’s (RBI) policy.
The Reserve Bank of India (RBI) has attempted to thwart the advance of cryptocurrencies. It even lobbied against regulatory procedures and blocked banks from joining a proposed regulatory sandbox.