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 traded volumes in India, but that may…


There are a lot of misconceptions regarding a recent decision by the Indian government. Various sources claim India has banned Bitcoin trading. That is not the case whatsoever. Instead, the RBI is ending its relationship between its own banks and any user or corporation dealing with cryptocurrencies. The Current Bitcoin Situation in India This week’s…


By Raveena Mital Similar to the gold rush where fortune seekers scoured to mine gold, the frenzy is back with the rise of digital coins, which has fired up users in mining and buying cryptocurrencies. Essentially, cryptocurrency is a form of digitized and unregulated money that is created and maintained by developers in cyber space….


Government Agencies in India Still Concerned About Bitcoin It was last week that the Indian Government officials revealed that the tax agency and investigation taskforce of the country is concerned about activities related to black market and money laundering that could be associated with bitcoin. SIT (Special Investigation Team) of India is in the middle…


India to Issue Its Own Bitcoin-Like Cryptocurrency in the Form of Legal Tender While working towards the creation of a legal framework for bitcoin currencies and other formsof digital currencies, the Government of India is now thinking about the launch of its own bitcoin-like cryptocurrency. The proposed cryptocurrency by the government will be issued by…