Crypto

India to ban private cryptocurrencies

Published

2 years ago

November 25, 2021

The Indian government have made a bold move to move ahead and ban cryptocurrencies

The Indian government is preparing to impose a full ban on private cryptocurrencies, following a recent block made by China on the digital sector.

The ban would relate to all private cryptocurrencies with certain exceptions to allow the promotion of the underlying technology and its uses.

Cryptocurrency prices dropped on Indian exchanges after the decision on the bill’s future was announced.

The proposals made by India were flagged in a parliamentary bulletin listing upcoming legislation which included one paragraph on “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021”.

But despite the imposed ban, the accompanying description of the bill appeared to leave some room for using cryptocurrencies.

“To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India,” it read.

“The bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”

The Prime Minister’s response:

India’s prime minister, Narendra Modi, stated last week that cryptocurrencies could “spoil our youth” and the country’s central bank has repeatedly warned, in line with other central banks, they could pose “serious concerns on macroeconomic and financial stability”

A new service from PayPal allows its customers to buy, hold and sell cryptocurrency directly from their PayPal account.

Despite bans imposed by China and now India – other economies around the world are embracing digitalised currencies

In September, El Salvador became the first country to accept a cryptocurrency, bitcoin, as legal tender.

But major economies have generally been wary of digital currencies, with the deputy governor of the Bank of England, Sir Jon Cunliffe, warning that they could cause financial meltdown.

Nonetheless, the BoE and the Treasury are to launch a formal consultation into a UK central bank digital currency next year.

Crypto

Why is the world’s largest crypto exchange battling U.S. regulators?

Published

3 months ago

June 15, 2023

ticker NEWS

U.S. regulators have filed charges against Binance, the world’s largest crypt exchange

Is the idea of a financial world that operates outside of the global banking system and eludes the reach of regulations a possibility or a pipe dream?

The Securities and Exchange Commission has filed 13 charges against the Bianace, world’s largest crypt exchange and its billionaire founder, Changpeng Zhao.

The SEC alleges that the crypto exchange worked to attract U.S. customers to its unregulated international exchange, commingled investor funds with their own and violated securities laws.

In addition, the SEC is also alleging that Binance and Zhao used market-making companies—that they controlled—to inflate trading prices and profit from of their customers.

Zhao has publicly dismissed the allegations.

Stefan Rust, the former CEO of Bitcoin.com joins us to discuss. #crypto #cryptocurrency #StefanRust #veronicadudo #Binance #ChangpengZhao

Crypto

Is the metaverse the future of social network?

Published

4 months ago

May 30, 2023

ticker NEWS

U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.

#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto

Crypto

Who will win the global metaverse race?

Published

4 months ago

May 30, 2023

ticker NEWS

China is looking to invest in the metaverse market as numerous cities rollout policy proposals.

Technology continues to change our lives forever.

As new advancements are released to the public—safety continues to be a major concern.

People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.

While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.

Analysts say it’s the next evolution in social connection and the successor to the mobile internet.

According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.

China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.

This comes after tense year of regulatory scrutiny on the countries tech sector.

The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.

The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.

So, is the metaverse taking the world by storm?

Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech