Young Indians Adopting Crypto Despite Harsh Taxes
India's cryptocurrency scene is a paradox: despite the government's harsh tax policies—a 30% tax on crypto gains and a 1% tax deducted at source (TDS) on transactions—crypto adoption is growing.
Persistence – Building next-gen financial products
Tushar Aggarwal is the CEO of Persistence, an interoperable protocol built to facilitate the creation of next-gen financial products. Tushar is a member of the Forbes 30 under 30 Asia club.
Bitcoin now legal in South Korea, India, and “at par” with fiat in France
Against a grim macro outlook, there was some good regulatory news last month. A French court ruled that bitcoin is a legally recognized currency. The Indian Supreme Court overturned India’s crypto banking ban, and South Korea has now fully legalized crypto assets within its borders.
India set to ban cryptocurrency and launch the digital rupee
India is moving closer to a ban on Bitcoin and other cryptocurrencies that would criminalize users. The Indian government remains open to distributed ledger technology, however, and a new report recommends the launch of the digital rupee.
India’s Bitcoin love story to end in break-up?
The Indian government has begun inter-ministerial consultations on a draft bill to ban crypto assets. The news comes as a further blow to the large Indian bitcoin community after the Reserve Bank of India issued a bitcoin banking ban in 2018.
Why India and China won’t lift their crypto bans anytime soon
The highest court in India this week upheld the reserve bank's decree prohibiting the country's banks and other regulated lenders from dealing with or supporting any cryptocurrency-related services, including allowing customers to buy crypto with credit cards.
State of the Bitcoin nation – India
India has the seventh largest economy in the world and its population is particularly fond of gold. Not surprisingly, therefore, the popularity of the 'digital gold' bitcoin is on the rise as Indians are increasingly starting to see the value of this new digital asset class.
Digital payments – Analysing the cyber landscape
In this thought leadership, the authors examine the digital payments ecosystem from a lens of readiness of framework for adopting the technology, emergence of new industry (Fintech), security and preventive measures that an Indian citizen needs to take before taking a leap of faith in the digital world, and measures to avoid frauds.
Applications of Blockchain Technology: To Banking And Financial Sector In India
In this White Paper, we explore Blockchain similarly â as an abstract data structure and development platform to solve generic problems in FinTech.
India’s idea about a cashless society is not the reality
I wrote a while ago about the amazing digital identity scheme in India called Aadhaar. It’s a card-based biometric scheme using a centralised database. Of course, today, they would have developed the scheme on a mobile wallet with a distributed ledger but hey, you can’t win them all. Some say that this just illustrates how quickly technology eats itself; I say it’s an example of old versus new technology worlds. The old world was capital, resource and time intensive (as blogged about the other day); the new world is agile, a continuum, far simpler and with lower cost.
Indian Bitcoin exchange tackles liquidity shortage following the withdrawal of Rupee notes
One of India’s largest bitcoin exchanges, Coinsecure, now offers an account that does not require identification for deposits. “Users can submit their KYC when they want to withdraw or deposit INR and avail the discounted fee of 0.3%,” the company explains. “This removes the process of having to complete verification to start trading in Bitcoin.” Know Your Customer (KYC) identification requirements are demanded by regulators across the globe.
India’s banknote withdrawal sparks bitcoin interest
Two of India's largest denomination banknotes were scrapped on Wednesday. The five hundred rupee and 1,000 rupee notes can no longer be accepted by businesses across the country. Indians will be allowed to deposit or exchange their old currency notes at banks and post offices until the end of the year.
Major banks from India and Dubai complete blockchain trade finance and remittance transactions
India’s largest private bank, ICICI, and one of the middle east’s largest banks, Emirates NBD, recently announced successful international blockchain transactions for both Trade Finance and Remittance purposes.
Jio Wireless network ‘will greatly help the Indian bitcoin industry’
A new 4G wireless data network with over 80% coverage, Reliance Jio, recently went live in India. Residents of approximately 18,000 cities and 200,000 rural villages can enjoy free cell and data plans until the end of the year. The data service then costs 149 rupees, about US$2.25, per month while cell remains free.
Bitcoin gaining ground in India
India, the world’s largest democracy and the second most populous country on Earth behind China, has a rocky and tenuous past when it comes to Bitcoin and cryptocurrencies.
Unocoin Partners With BTCJam To Bring Bitcoin Loans To India
In 2011 the Reserve Bank Of India implemented a raft of banking regulations, the countries Micro-loan companies were in deep trouble due to defaults on loans. The Bitcoin industry is providing its own solutions.
