Unwise to ban all cryptocurrencies: ORF report

New Delhi: With an estimated 15 million Indians holding digital currencies, cryptocurrencies need to be regulated like any other financial asset and it would be unwise for India to ban private crypto assets when it has the ability to redeem it. A study released by the Observer Research Foundation (ORF) gave this information on Tuesday. … Read more

Omicron token climbs 11x over the weekend, loses 75% of value overnight

New Delhi: The discussion isn’t over on the latest COVID-19 version, Omicron, but the excitement around the token named after it came and went in an instant. Omicron Coin (OMIC), a lesser known cryptocurrency, was on a roller-coaster ride for three days. The digital token has shot up to 1,100 percent before giving up three-quarters … Read more

Bitcoin, Ethereum have significant support; All eyes on India’s crypto bill

After a massive drop in bitcoin last week, from a new high of $69,000 earlier this month, it is now facing stiff resistance at $57,500 followed by $60,000. That said, BTC buyers have been quite active during this correction, which came after an unfavorable $3 billion option expiration on Friday. As long as there is … Read more

No proposal to recognize bitcoin as currency: Finance Minister Sitharaman

Finance Minister Nirmala Sitharaman said in a reply in the Lok Sabha on Monday that the government has no proposal to recognize bitcoin as a currency in the country. He also told the House that the government does not collect data on bitcoin transactions. Does the government have any proposal to recognize bitcoin as currency … Read more

Cryptocurrency exchange Coinstore enters India despite pending restrictions on trading

MUMBAI: Singapore-based virtual currency exchange Coinstore has commenced operations in India at a time when the Indian government is preparing legislation to effectively ban most private cryptocurrencies. Coinstore has launched its web and app platform and plans to have branches in Bangalore, New Delhi and Mumbai that will serve as its base in India for … Read more

Get rich-quick crypto wave could lead to more meaningful crypto products

The crypto craze generated a sort of lure of easy money that few other things could match. An overnight growth of 64,000% percent is almost unimaginable and defies any logic of investment and growth. This, coupled with the ever-increasing advice of crypto exchanges, began to attract everyone to this crypto maze. Then came NFT crypto. … Read more

Bitcoin retreats 20% from record, joins risk-asset sell-off

by Joanna Osinger and Emily Graffio Bitcoin fell 20 per cent from record highs earlier this month as a potentially worrying new version of the coronavirus prompted traders to dump riskier assets around the world. The world’s largest cryptocurrency fell 9 per cent to $53,552 on Friday. Ether, the second-largest digital currency, fell more than … Read more

Cryptocurrency Prices Today: Binance Coin, Ethereum Up 4%

New Delhi: Cryptocurrency counters were mixed on Friday in international and domestic markets amid concerns about India imposing restrictions on currencies. In dollar terms, Binance Coin was among the top gainers, up nearly 4 percent. Data from CoinMarketCap showed that Bitcoin climbed more than one percent and Ethereum was up more than 3 percent. Solana … Read more

Crypto exchanges rush to allay investor concerns amid regulatory uncertainty

MUMBAI: Private equity firms and strategic investors who have invested millions of dollars in Indian cryptocurrency exchanges are getting upset after the government’s decision to introduce the Official Digital Currency Bill, 2021 on Cryptocurrency and Regulation in the upcoming winter session of Parliament. . The words of the Lok Sabha Bulletin, released late on Tuesday, … Read more

54% do not want cryptocurrency to be legalized in India: Survey

New Delhi: Nearly 54 per cent of those polled in a pan-India survey did not support legalizing cryptocurrencies in the country and instead considered them as digital assets held abroad, said a report by digital community platform LocalCircles. LocalCircle said the study received more than 56,000 responses from people living in 342 districts across the … Read more