The cryptocurrency landscape is undergoing a profound transformation, driven by a geographic shift in developer activity and the rise of emerging blockchain ecosystems. Electric Capital’s latest annual developer report reveals that Asia now accounts for a staggering 32% of global crypto developer activity—a remarkable leap from just 12% in 2015. ...
India's Chief Economic Advisor, V. Anantha Nageswaran, has called on regulators to encourage innovation within the cryptocurrency sector while ensuring transparency and accountability. Speaking at the Global Economic Policy Forum 2024, Nageswaran highlighted the importance of regulatory frameworks that support advancements in emerging technologies, such as Bitcoin and other cryptocurrencies, ...
Indian authorities are investigating a cryptocurrency investment scam that has defrauded at least 320 individuals in Andhra Pradesh of millions by promising unrealistic monthly returns of 10%, according to a report from the Deccan Chronicle. The scheme, allegedly orchestrated by a single individual named “Ramanjaneyulu”, has resulted in reported losses ...
The Reserve Bank of India (RBI) Governor Shaktikanta Das voiced strong concerns over stablecoins, which he described as "private money" that could undermine government sovereignty by allowing private issuers to dominate the payments system. Speaking at the G30 39th Annual International Banking Seminar in Washington, DC, Das argued that the ...
India is reportedly weighing a potential ban on private cryptocurrencies such as Bitcoin and Ether, while pushing for the widespread use of the digital rupee, the country's Central Bank Digital Currency (CBDC). According to a report by local news outlet, the Hindustan Times, government officials have been consulting with key ...
Governor Shaktikanta Das of the Reserve Bank of India (RBI) continues to champion the country's Central Bank Digital Currency (CBDC), known as the Digital Rupee, positioning it as a crucial tool for addressing the risks posed by cryptocurrencies. During his speech at the Central Banking at Crossroads conference, Das highlighted ...
Indian crypto exchange WazirX is working closely with government authorities, including the Financial Intelligence Unit (FIU), to address the aftermath of a July hack that led to the theft of $235 million from one of its wallets, according to a report by Moneycontrol. The exchange has provided authorities with detailed ...
On September 25, Binance announced its collaboration with Indian authorities to investigate an online scam allegedly linked to the Fiewin gaming app. This joint effort resulted in the arrest of four individuals involved in the scam. Fiewin initially positioned itself as a legitimate platform where users could easily earn money ...
The Bharat Web3 Association (BWA), a local blockchain advocacy group, has expressed support for the Indian government's latest blockchain initiative, hailing it as a significant leap forward for the country's digital landscape. The Indian Ministry of Electronics and Information Technology (MeitY) recently unveiled the National Blockchain Framework (NBF) and launched ...
India’s financial regulator may grant two foreign-based crypto exchanges approval to operate in the country by March 2025. According to a report by local media outlet Business Standard, the country’s Financial Intelligence Unit (FIU) is currently reviewing registration applications from four offshore cryptocurrency exchanges. While the specific platforms remain undisclosed, ...
