India resists full crypto framework, fears systemic risks, document shows

India resists full crypto framework, fears systemic risks, document shows

India is leaning towards not creating legislation to regulate cryptocurrencies in the country and instead will maintain partial oversight, fearing that bringing the digital assets into its mainstream financial system could raise systemic risks, a government document shows. The document, seen by Reuters, cites the Reserve Bank of India’s (RBI) view that, in practice, containing […]

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Bitcoin soars to all-time peak just shy of 2,000

Bitcoin soars to all-time peak just shy of $112,000

Bitcoin climbed to an all-time high near $112,000 late on Wednesday, bolstered by an increased risk appetite and persistent institutional demand as traditional financial market players embraced the world’s largest cryptocurrency. It touched a record peak of $111,988.90 and was last up 0.4% at $111,259. Since the beginning of the year, bitcoin has advanced more […]

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Bitcoin surges to all-time peak as crypto sentiment improves

Bitcoin surges to all-time peak as crypto sentiment improves

Bitcoin rose to its highest level on record on Wednesday, eclipsing the previous high from January, as risk sentiment continues to improve after last month’s tariff-induced selloff. The world’s largest cryptocurrency touched a high of $109,760.08, and was last up 1.1% at $108,117. Its ascent was driven by a combination of factors including easing trade […]

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Crypto poses cybersecurity risks to India’s financial sector: Digital Threat Report 2024

Crypto poses cybersecurity risks to India’s financial sector: Digital Threat Report 2024

Cryptocurrency has been flagged as a new frontier for cyber threats in a new report drafted with inputs from Indian nodal agencies such as the Indian Computer Emergency Response Team (CERT-In) and Computer Security Incident Response Team in the Finance sector (CSIRT-Fin). “Cryptocurrency has significantly altered the cyber threat landscape, empowering intruders in ways that […]

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Government amends KYC to add non-profit organisations, ‘politically exposed persons’

Government amends KYC to add non-profit organisations, ‘politically exposed persons’

The Finance Ministry has amended the Prevention of Money Laundering (Maintenance of Records) Rules for widening the scope of KYC norms. File | Photo Credit: The Hindu The Finance Ministry has amended the Prevention of Money Laundering (Maintenance of Records) Rules for widening the scope of Know your Customer (KYC) norms to include Politically Exposed […]

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FTX founder Bankman-Fried allowed 0M bond, house arrest

FTX founder Bankman-Fried allowed $250M bond, house arrest

Sam Bankman-Fried, the founder and former CEO of crypto currency exchange FTX, is escorted out of the Magistrate Court building in Nassau, Bahamas on December 21, 2022. | Photo Credit: Reuters The cryptocurrency entrepreneur Sam Bankman-Fried can post $250 million bond and live in his parents’ home in California while he awaits trial on charges […]

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India to seek harmony in crypto regulation in G-20 finance talks

India to seek harmony in crypto regulation in G-20 finance talks

Representational file image. | Photo Credit: Reuters A coordinated approach to regulating crypto assets, managing debt vulnerabilities and reorienting global financial institutions have been identified as critical focus areas of the Finance Track agenda for India’s G-20 Presidency, which will kick-off with the first meeting of G-20 Finance and Central Bank Deputies in Bengaluru on […]

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Crypto exchange AAX halts withdrawals, says FTX put ‘immense pressure’ on industry

Crypto exchange AAX halts withdrawals, says FTX put ‘immense pressure’ on industry

Cryptocurrency exchange AAX has suspended withdrawals, citing a glitch in a system upgrade. AAX is a relatively small crypto exchange: data from CoinGecko showed that trading volumes over the last month peaked at around $2 billion. Over the last 24 hours, that number had dwindled to around $180,000. By contrast, Coinbase volumes were more than […]

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Sam Bankman-Fried’s downfall sends shockwaves through crypto

Sam Bankman-Fried’s downfall sends shockwaves through crypto

Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world’s first trillionaire. Now the comments about the 30-year-old Bankman-Fried aren’t so kind after FTX filed for bankruptcy protection Friday, leaving his investors and […]

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FTX’s founder was called a modern-day J.P. Morgan Sr. The analogy still works

FTX’s founder was called a modern-day J.P. Morgan Sr. The analogy still works

With inflation still roaring, it is a hard time to make a case for the value of central banks. But the boy wizards of cryptocurrency have done it. The great benefit of crypto was said to be decentralization. This was accompanied by all manner of gasbagging about the liberating power of money unhinged from the […]

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