Blockchain & crypto news from India
Prominent cryptocurrency exchanges WazirX and CoinSwitch Kuber have blocked rupee deposits for the buying of crypto using a widely-used state-fostered transfer system, provoking users to voice concern on social media. India has spent years on a law to regulate or ban cryptos, with its central bank supporting a ban over their threat to financial stability,…
According to reports, the latest Indian crypto bill will necessitate the requirement for sharing KYC (Know Your Customer) data of users with several regulators and government agencies for verification. The latest bill will command for a uniform KYC procedure for all cryptocurrency exchanges though they have their own process as of now. The new bill…
India’s new crypto law is set to red-flag many investment schemes introduced by crypto exchanges and individuals that are akin to multi-level marketing (MLM), chit funds and systematic investment plans (SIP), as it looks forward to creating a robust regulatory system to safeguard vulnerable rural populations purchasing risky cryptocurrency assets. Regulators including the Securities and…
In an act to regulate the crypto world in South Korea, the Financial Services Commission (FSC) of Korea directed cryptocurrency exchanges to get certified by the Korean Internet and Security Agency (KISA) to resume functioning after September 24. The cryptocurrency exchanges were needed to accomplish specific demands to resume authorized operating in the nation. Out…
Cryptocurrency exchanges in India are reportedly considering approaching Supreme Court to sort out problems they’ve had with central banks currently. Most of the crypto exchanges in the nation have had to stop taking rupee deposits in India, as banks withdrew their services after an informal notice from India’s central bank – the Reserve Bank of…
Cryptocurrency traders and exchangers are dealing with an ongoing problem with many banks not interested in allowing transactions that deal with crypto exchanges. According to sources, the problem started in February end. In recent weeks some banks have directed payment gateways to not permit crypto-related transactions. As a result, some cryptocurrency exchanges have been encountering…