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Virtual Currency

Indian Supreme Court Orders RBI to Answer Crypto Exchanges, New Date Set

<header class=”article__header”> </header> <strong>After hearing the arguments against the banking restriction by the Reserve Bank of India (RBI) in detail, the Indian supreme court directed the central bank to reply to the representations filed by crypto exchanges. Since the RBI has not adequately answered them, the court set a new date to resume hearing the …

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RBI Defends Its Power Over Crypto in Indian Supreme Court

<header class=”article__header”> </header> <strong>The Indian supreme court heard the case against the crypto banking restriction by the Reserve Bank of India (RBI) in detail Tuesday. After many arguments challenging the RBI’s power over crypto were presented, the counsel for the central bank began making the case against cryptocurrency.</strong> Also read: RBI’s Power Over Crypto Challenged …

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‘Amazon of Japan’ Rakuten Launches Crypto Exchange Service

</header> <strong>Rakuten, the “Amazon of Japan,” announced the launch of its new crypto exchange platform Monday, August 19, offering spot trading of crypto assets via a dedicated smartphone app. The e-commerce giant has been crypto-friendly for a while now, experimenting and investing in crypto payment systems since at least 2014, but with the launch of …

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Philippines Increasingly Crypto Friendly – A Look at Driving Forces

<header class=”article__header”> </header> <strong>There are many reasons why the Philippines is becoming increasingly crypto-friendly. Not only has its central bank registered more crypto exchanges recently, but the Securities and Exchange Commission has also been actively finalizing crypto guidelines. The country has an active crypto community, and one of its largest banks has engaged in multiple …

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Central Banks Worldwide Testing Their Own Digital Currencies

<header class=”article__header”> </header> <strong>Central banks worldwide are examining the possibility of issuing a central bank digital currency (CBDC), with some already testing theirs for different uses. Countries that have advanced their digital currency projects include China, Singapore, Canada, the Bahamas, Thailand, Uruguay, and Sweden. India has also included the digital rupee in the country’s draft …

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RBI’s Power Over Crypto Challenged at Length in Indian Supreme Court Today

<header class=”article__header”> </header> <strong>The Indian supreme court resumed hearing the writ petitions against the banking restriction by the central bank, the Reserve Bank of India (RBI), on Wednesday. Many issues were discussed, ranging from the legality of the RBI action to the classification of crypto assets and how each country regulates them.</strong> Also read: India …

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Crypto Regulations Are Changing Worldwide to Comply With FATF Standards

<header class=”article__header”> </header> <strong>Governments worldwide are changing the way they regulate crypto assets to comply with the global cryptocurrency standards set by the Financial Action Task Force (FATF). Some are amending existing laws, while others are creating a new system to cooperate and share data.</strong> Also read: China Publishes New Rankings of 37 Crypto Projects …

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India to Introduce Crypto Bill Next Parliament Session – A Look at Community Responses

<header class=”article__header”> </header> <strong>The Indian government has submitted a draft crypto bill to the supreme court and expressed its intention to introduce the bill in the next parliament session. The court subsequently set a new date to hear the case relating to crypto regulation. Meanwhile, the Indian crypto community has ramped up efforts to influence …

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US Exchanges Race to Launch Regulated Physically-Delivered Bitcoin Futures

<header class=”article__header”> </header> <strong>The race to launch regulated physically-delivered bitcoin futures is back on for three US-regulated trading platforms after one of them hit a snag with the country’s derivatives regulator, the Commodity Futures Trading Commission. Two other exchanges are racing to launch similar products this year.</strong> Also read: SEC Commissioner: US Could Draw Crypto …

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Indian Supreme Court Heard Crypto Case in Depth Today

<header class=”article__header”> </header> <strong>The Indian supreme court finally heard the crypto case today after postponing it several times. The court addressed the government’s crypto policy as well as the writ petitions challenging the banking restriction by the central bank. The latter was heard in some detail while the former was further delayed at the request …

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