Reserve Bank of India

Genesis Block 2020 brings blockchain and bitcoin to India

Volatility in India and Blockchain India is the second-most populous nation in the world with a huge interest in blockchain and crypto. For almost 2 years there has been a ‘ban’ on cryptocurrency trading since the Reserve Bank of India issued a notice to Indian banks to stop dealing with any cryptocurrency businesses. However, peer […]

India’s central bank mulls digital currency issuance

Last week, the Reserve Bank of India (RBI) said it is exploring the issuance of a central bank digital currency (CBDC), but will pursue the idea in due course, local news outlet Livemint reported. The central bank governor Shaktikanta Das said it is ‘too early’ to talk about a CBDC owing to technological handicaps. However, […]

India vs. the people: The battle over cryptocurrency ownership continues

India has a curious relationship with blockchain. On the one hand, the Indian government is a huge proponent of blockchain technology, and nearly half the states in India have already initiated government-sponsored blockchain projects. At the same time, the government has been very ambivalent toward cryptocurrency, drafting a slew of measures in the last couple […]

Bitcoin Mining Uses as Much Energy as Ireland

The Power Demand For Blockchain Network is on Rise Even When Bitcoin Prices Have Come Down According to a report by Alex de Vries, the Dutch researcher, the Bitcoin network uses as much electricity as Ireland. According to his estimates “at least 2.55 gigawatts of electricity currently, and potentially 7.67 gigawatts in the future.” Bitcoin […]

India’s Crypto Crackdown: Wealthy Bitcoiners Targeted, Start-Ups Scrutinized

It has been a busy week for the government of India concerning cryptocurrencies. After it raided crypto exchanges, it is now actively investigating wealthy bitcoiners through the Income Tax Department of India (ITDI). In addition to roustings and investigations, the Securities and Exchange Board of India (SEBI) announced new scrutiny initiatives regarding initial coin offerings […]

India’s Cryptocurrency Dilemma

Cryptocurrency is a highly disruptive technology, with a high carbon footprint, that can affect many stakeholders in today’s trust based financial system. The Reserve Bank of India (RBI), its currency issuing power and its supervisory role in the payments system domain are first casualty because blockchain is completely decentralised and anonymous. But if we place […]

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