The resurgence of crypto, fueled by US President Donald Trump’s shift from a sceptic to a supporter, has drawn global attention
Bitcoin has experienced a 30 percent increase in the last month and a remarkable 93 percent increase over the past year.
While the work of preparation of 'synthesis paper' is underway, India has submitted a 'Presidency Note' to the G20 membership laying down important inputs for a roadmap on crypto assets, said an official release.
In the past too, the RBI has been warning against cryptocurrencies highlighting the risks.
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Women are relatively new to the Web3 ecosystem. They say it is important to have more women founders to build awareness and make this ecosystem more inclusive in India
The crypto-as-payment functionality is already live on the Brightchamps platform across all geographies after thorough testing and security checks, said the company.
Bitcoin fell by almost 3 percent, declining consistently for the 6th consecutive day. This happened just days after it hit an all-time high of $68,789.63 on November 10, 21.
The central anti-narcotics agency said the illegal trade was unearthed after multiple raids were carried out by officials of the Delhi zonal unit in the National Capital Region, Uttar Pradesh, Uttarakhand and Himachal Pradesh over a two month period.
The latest directive comes against the backdrop of some banks and regulated entities citing the circular and cautioning customers against dealing in virtual currencies.
Cryptocurrencies, with no underlying asset, pose high risk to investors. According to data from crypto exchanges, there are approximately 1.5 crore Indians who have invested in cryptocurrencies holding Rs 15,000 crore. There are 350 startups who operate in blockchain and crypto.
From Goldman Sachs to PayPal, Apple to MasterCard everybody is opening up to bitcoin and its peers. Corporate celebrities like Elon Musk and Chamath Palihapitiya have also pushed the case on social media.