On May 23, a famous news outlet Bloomberg Quint published an article with title “India Mulls GST On Trading Of Virtual Currencies”. Pretty soon the rest of the mainstream media channels picked it up, and published their own versions of the story. At Coin Crunch India, we decided to callRead More →
In what seems a bizarre scenario, the onus of the future of the cryptocurrency literally now lies in the hands of Supreme court on India. The apex court has clubbed multiple petitions into a single case that is now to be heard on July 20. While one petition has soughtRead More →
Cryptocurrency in many ways have troubled the ever-cautious dearly beloved Reserve Bank of India. At the press conference on April 5 when the banking ban on cryptocurrency was announced, the deputy governor of RBI Mr. Kanungo said, “If they (Cryptocurrency) grow beyond a critical size, they can endanger the financialRead More →
Four Indian Crypto Exchanges Jointly Assail RBI Banking Siege in the Supreme Court of India. In the third in sequence yet the fiercest attempt of downing the Reserve Bank of India’s circular blocking off banking services to Cryptocurrency exchanges, four Indian Cryptocurrency exchanges have jointly filed a Writ Petition (Civil)Read More →
Ethereum (ETH), the second largest cryptocurrency by market capitalisation, is facing scrutiny from American regulators, the SEC and CFEC today. The US Securities and Exchange commission (SEC) along with Commodity Futures Exchange Commission (CFEC) are taking a close look at Ethereum, and whether it can be classified as a security. TheRead More →
In the last two days I received many articles on how Chile’s exchanges ‘won’ a fight with banks. The report says, Chile’s banks were ordered to re-open the bank accounts of cryptocurrency exchanges while the case goes into hearing. Technically the exchanges haven’t won the dispute yet, but its aRead More →
“You cannot charge interest (Riba) under Islamic Banking laws”, I was recalling the slides of my presentation from 2011. My topic of presentation for the day was Islamic Banking and I distinctly remember this one line that I wrote on the deck. Conventional Banks work on a simple principle: YouRead More →
Let us begin this article with a little good news. At the time of this writing the Crypto Prices on Indian Exchanges have come at par with the international average. A Sign that people’s trust in cryptocurrencies have been shaken but not lost. Earlier today, KoinOK sent an email toRead More →
You must be living under a rock if by now you don’t know that RBI has given three months to Banks to wind up their businesses with anyone dealing in cryptocurrencies. The Crypto-community is about 1.5 million strong in India as per CNBC TV18’s Shereen Bhan, but we estimate itRead More →
In the first bi-monthly monetary policy press conference, Indian central bank, the Reserve Bank of India has made it clear that they do not encourage banks to do business with Crypto exchanges. With immediate effect, the RBI has asked the entities regulated by them to stop catering to businesses thatRead More →
