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Crypto Regulation News Weekly Digest: Anti-Money Laundering Support Gains Momentum in US Congress and India Takes Cautious Regulatory Approach
13.12.2023
US lawmakers push for stricter crypto regulation while India reiterated its plan for a slow, evolutionary approach to digital asset legislation. Image by Kerem Goktug Kaya, DALL-E 3. The past week saw major developments on the crypto regulation front. In the United States, The CFTC Chairman...
India to Consider Country-Specific Characteristics and Risks in Regulating Crypto: Finance Ministry
13.12.2023
Source: Pexels India’s Finance Ministry will consider country-specific characteristics and risks before implementing any measures related to crypto assets. Minister of State for Finance Pankaj Chaudhary, during a session in the Rajya Sabha, highlighted the significance of the New Delhi...
OctaFX legality in India: ED crackdown on forex trading
12.12.2023
OctaFX is a trading platform that enables customers to engage in forex transactions. The official website demonstrates success by highlighting that it grants access to a wide range of assets, currencies, and shares, among other products. It further boosts the offering of low spreads and...
Indian Government Confirms Commitment to Supporting Web3 Startups
9.12.2023
The Indian government has confirmed its commitment to supporting startups that are innovating in the Web3 sector in India. “Web3 represents the future of internet and the government is committed to ensuring that the innovators and innovation from India create the future of Web3...
India Won't See Crypto or Web3 Bill for Another 18 Months, Senior Lawmaker Tells CoinDesk
7.12.2023
India is unlikely to bring a crypto or Web3-specific legislative bill anytime soon and perhaps all the way up to mid-2025, said one of the most senior politicians in India's government overseeing the financial evolution of the nation
Parliament of India Holds Discussion on Future of Web3
7.12.2023
Source: Pixabay The lower house of the Indian Parliament, Lok Sabha, held a discussion on the importance of web3 and blockchain sector in India on December 6. Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, emphasized the importance of Web3 and Blockchain...
India’s IEEE Taps Avalanche Blockchain for Issuance of Tamper-Proof Certificates
7.12.2023
Source: Pixabay The Institute of Electrical and Electronics Engineers (IEEE) has partnered with Avalanche Blockchain to issue immutable certificates for educational milestones in India. ???? The Institute of Electrical and Electronics Engineers (IEEE) will issue certificates based on Avalanche...
Indian Government Reveals 28 Crypto Service Providers Are Registered With Financial Intelligence Unit
5.12.2023
The Indian government has revealed that 28 crypto service providers are currently registered with the country’s Financial Intelligence Unit. Furthermore, the Ministry of Finance has clarified that the anti-money laundering guidelines and reporting requirements apply to offshore cryptocurrency...
28 Indian Crypto Platforms Register With Country’s Anti-Money Laundering Department
4.12.2023
Source: Pixabay 28 Indian crypto platforms have registered with the Financial Intelligence Unit, the country’s Minister of State for Finance said. In response to queries in the Lok Sabha, the lower house of India’s bicameral Parliament, Indian Minister of State for Finance Pankaj Chaudhary told...
OKX reveals sponsorship of key events at India Blockchain Week
4.12.2023
OKX, a Web3 tech leader, sponsors significant events during India Blockchain Week (IBW), scheduled for December at the Sheraton Grand Whitefield, Bangalore. As part of this week-long initiative, OKX will support Polygon Connect and ETH India, in addition to co-hosting two developer mixers....
28 Indian Crypto Service Providers Have Registered With Country’s Anti-Money Laundering Unit
4.12.2023
As many as 28 Virtual Digital Assets (VDA) or crypto service providers have registered themselves with India's Financial Intelligence Unit (FIU-IND)
Polygon Connect India to conclude Polygon Labs 2023 tour
1.12.2023
Polygon Labs has announced that it will be visiting India for its flagship event. Polygon Labs will host Polygon Connect India in Bengaluru on December 7, 2023, from 10 am to 8 am IST. To attend the event, it is mandatory to register for the event, and registrations are subject to approval....
India Blockchain Week brings together the brightest minds in Web3
1.12.2023
India Blockchain Week (IBW), the country’s flagship series of blockchain and Web3 events held in Bangalore from December 04-10, is delighted to announce that the attendees are going to have unparalleled opportunities for networking, collaboration, and discussion at the weeklong festival....
India’s Forex Reserves hit $595B, exceeding 11-week peak!
30.11.2023
Foreign exchange India has broken the record once again with its significant achievement of exceeding an 11-week peak, settling forex reserves at $595 billion. In this article, we will discuss the economy’s record-breaking achievement and its economic implications, the future Outlook of...
Blockchain Protocol Algorand Forms Strategic Collaborations in India For Web3 Push
30.11.2023
Source: Pixabay Decentralized network Algorand (ALGO) has partnered with key players in India to deepen India’s Web3 foundation. In a significant move explained by the blockchain platform’s CEO Staci Warden, Algorand will partner with the Indian tech advocacy group – NASSCOM. Other partners include...
India Seeks Extradition of Prime Suspect in $240M Crypto Scam from UAE
30.11.2023
Source: Pexels Indian authorities are intensifying efforts to bring the alleged mastermind behind a massive $240 million cryptocurrency scam back to the country. The special investigation team (SIT) of the Himachal police, after nearly two months of probing, has prepared a comprehensive 2,100-page...
The Algorand Foundation Expands Its Footprint in India
30.11.2023
Blockchain protocol Algorand (ALGO) has expanded its footprint in India by securing new partnerships with NASSCOM, India's trade body and chamber of commerce for the tech industry, T-Hub, a prominent innovation hub, and the Mann Deshi Foundation which supports India's first rural bank for women
Indian Authorities Prepare Chargesheet Against 3 Accused in $240M Crypto Scam
28.11.2023
Source: Pixabay The Special Investigation Team formed to investigate the alleged $240 million crypto fraud in India will file chargesheet against the three main accused this week. Over 100,000 victims were duped in an alleged multilevel fake crypto scheme that also involved over 1000 police...
Singapore Central Bank Chief Sees No Future for Private Cryptocurrencies
28.11.2023
Source: PIxabay Singapore’s central bank’s managing director, Ravi Menon, emphasized that private cryptocurrencies falling short of fundamental financial service tests will eventually fade from the monetary scene. Menon outlined his vision for the future monetary system, highlighting three...
Coinbase Eyes Tech Talent in India as it Looks to Expand Workforce
27.11.2023
Source: Pexels US-based crypto exchange giant Coinbase is looking to expand its workforce in India despite facing regulatory setbacks for its products. The company is actively recruiting for product and technology positions, both in remote capacities and at its Bengaluru and Hyderabad locations....