The Reserve Bank of India (RBI) has not been shy about voicing its concerns over cryptocurrencies, boldly claiming that "crypto poses risks to India's financial stability." This might sound dramatic, but it reveals the central bank's apprehensions over how digital assets could shake up the country's financial ecosystem. India's crypto ...
The Indian Ministry of Home Affairs, through its Cyber Crime Coordination Centre, has teamed up with Google and Facebook as part of its efforts to address the growing issue of cryptocurrency scams across the country. In its 2024 annual report, the Ministry highlighted that vulnerable groups, including unemployed youths, housewives, ...
The Reserve Bank of India (RBI) has raised concerns about cryptocurrencies, including stablecoins, warning they pose significant risks to the country’s financial stability. In its latest 2024 Financial Stability Report, the RBI noted that despite a surge in crypto adoption across India, the unregulated use of digital assets could undermine ...
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 ...
