Bitcoins and cryptocurrencies have been gaining momentum for the past 10 years. However, while most of us are aware of bitcoins, our understanding and personal investments in this avenue are relatively low.
January 19, 2021
You’re reading it here first: After several months of deliberation, India’s leading crypto-currency exchanges have finalised a code of conduct policy to be followed by all crypto-currency firms operating in the country. The code of conduct will be sent to the Reserve Bank of India (RBI) and the government for feedback based on which a final version will be released in the public domain.
Ever since the Supreme Court RBI’s struck down the RBI’s April 2018 circular, which barred banks from providing services crypto-firms in India, the domestic industry has been regulating itself. The Internet and Mobile Association of India (IAMAI), which had challenged the RBI’s circular, has been working with leading crypto-exchanges on the code of conduct policy for the past few months. Some of the companies that worked on the policy include Wazir X, CoinDCX, UnoCoin, ZebPay among others.
How India’s cryptocurrency exchanges are countering dirty money
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Bitcoin and other cryptocurrencies are often used by criminals to launder money. Despite lack of regulation, India s crypto exchanges deploy certain KYC and anti-money laundering procedures, but loopholes remain in the ecosystem. Mint explains.
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. 16 Apr 2021
India has no KYC norms for cryptocurrency. Despite this, India’s cryptocurrency exchanges have come up with their own KYC procedures for users. “As a matter of course, we ask for ID and address proof like Aadhar and PAN Card. We also insist that money must come from the concerned user s bank account and not some third-party account, said Nishal Shetty, CEO, WazirX, India’s largest cryptocurrency exchange.
Morning Brief (ET Bureau) The Bitcoin Buzz: With 300% growth in 2020, why it s the new digital gold for investors
Rachita Prasad | 19:57 Min | January 07, 2021, 8:01 AM IST
In a year of many lows, cryptocurrency Bitcoin’s value rose 300% in 2020. As investors grapple with the fear of missing out, CEO of Bitbns’ Gaurav Dahake and ET Prime’s Sidhartha Shukla decode the recent boom in the cryptocurrency market and tell us why Bitcoin is the new digital gold for several investors today.
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