In a speech discussing the budget for 2022, Indian finance minister Nirmala Sitharaman announced the launch of a central bank digital currency (CBDC) by 2022-23 as means to boost the country’s economic growth. Sitharaman highlighted the need for digital inclusion across numerous business verticals while announcing the fund allocation set in the Union Budget. Speaking about the … [Read more...] about India to introduce 30% crypto tax, digital rupee CBDC by 2022-23
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RBI Recommends India Implement Basic Version of CBDC
In a major step away from the RBI’s stance in the past towards anything cryptocurrency-related, the report says “In its basic form, a central bank digital currency (CBDC), provides a safe, robust, and convenient alternative to physical cash. In comparison with existing forms of money, it can offer benefits to users in terms of liquidity, scalability, acceptance, ease of … [Read more...] about RBI Recommends India Implement Basic Version of CBDC
India Prime Minister Suffers Another Twitter Hack; Fake Tweet Sent Promising Bitcoin to All Indians
The Twitter account of India Prime Minister Narendra Modi was briefly hacked early Sunday morning local time, the second such attack on an account linked to the PM in little over a year. While the account was restored quickly, the hacker had enough time to tweet, falsely, that India had adopted bitcoin as legal tender and that the government had bought 500 bitcoin and would … [Read more...] about India Prime Minister Suffers Another Twitter Hack; Fake Tweet Sent Promising Bitcoin to All Indians
India to set maximum penalty for violating crypto norms at fine of $2.7 million or 1.5 years in jail
On Tuesday, BloombergQuint (Bloomberg India) reported that the penalty for non-compliance with the Indian government's crypto policies could range from a maximum fine of 20 crore rupees ($2.7 million USD) or 1.5 years in jail. Prime Minister Narendra Modi will likely give cryptocurrency investors a deadline to comply with new rules and declare their assets. Whilst the … [Read more...] about India to set maximum penalty for violating crypto norms at fine of $2.7 million or 1.5 years in jail
Four inspiring blockchain journeys and stories from Odisha, India
Blockchain technology offers a great many advantages to many industries, with the financial sector being one of the most notable examples. It has the potential to have an even greater impact in developing countries, where blockchain-enhanced fintech can help improve financial accessibility for the 1.7 billion unbanked people around the world through services such as … [Read more...] about Four inspiring blockchain journeys and stories from Odisha, India