Blockchain & crypto news from India
The mining firm and subsidiary of Digital Currency Group (DCG), Foundry Digital LLC on Thursday, declared the launch of Foundry Logistics in order to upgrade standards in the cryptocurrency mining industry. The recently launched arm of the firm aims to ‘bridge the gap between buyers and hardware manufacturers by offering an all-in-one solution for mining…
From Lamborghinis to Starbucks, consumers are utilizing crypto to pay for many goods, and retailers are taking notice.
Though the cryptocurrency wave is slowly gaining momentum, it is yet nowhere close enough to be as universal as fiat money. One of the major reasons for this is that cryptocurrency lacks bulk acceptance as a means of payment. However, many stores accept MasterCard, Visa, and the likes but don’t accept cryptos for transactions. But…
After the termination of the Blockchain and Crypto Assets Council (BACC) by the Internet and Mobile Association of India (IAMAI), blockchain firms and cryptocurrency exchanges are working to create an independent think tank on upcoming issues within the sector.
Vladimir Putin, the Russian President, has signed a law banning the use of cryptos or other digital assets as a mode of payment for services and goods in Russia. Doing so has made crypto payments illegal, reconfirming the ruble as the only accepted monetary unit in the Russian Federation.
Finance Minister of India, Nirmala Sitharaman has tuned to the G20 nations to include cryptocurrency within the ‘Automatic Exchange of Information’ framework. Over 100 nations have adopted the Common Reporting Standard under the framework. The finance minister discussed crypto during the G20 Ministerial Symposium on Tax and Development in Bali, Indonesia on Friday.
The IAMAI (Internet and Mobile Association of India) has made it clear to dismantle the BACC (Blockchain and Crypto Assets Council), which was created to represent cryptocurrency exchanges before authorities such as RBI (Reserve Bank of India) and other main government departments. As per two sources, IAMAI decided to distance itself from crypto.
‘Building Future Cities’, a 2-day blockchain hackathon will be organized in Bengaluru from August 5.
The South African Reserve Bank is ready to introduce regulations next year that will declare cryptos classed and treated as financial assets to balance investors’ innovation and protection.
Seracle, the blockchain-as-a-Service (BaaS) platform has declared the launch of Web 3.0 NFT (non-fungible token) infrastructure for cooperates and brands across sectors to aid them in developing their customized NFT marketplaces.