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The Reserve Bank of India (RBI) has clarified that it had not banned cryptocurrencies but had asked banks not to provide financial services for cryptocurrencies. The bank stated this in reply to a petition filed by the Internet and Mobile Association of India (IAMAI). The IAMAI had moved the SC...
The South Korean government is facing criticism over revelations that cryptocurrency exchanges had been hacked, resulting in a loss of over $100 million. What is more galling is that three exchanges were hacked after the government had carried out an inspection of security features at all the cryptocurrency exchanges...
BitPay Inc. has announced that it has listed Ripple Labs Inc. cryptocurrency XRP on its platform. Thus, merchants using BitPay’s payment solutions can accept payments in XRP. XRP becomes the 7th cryptocurrency to be supported on BitPay. The others are BTC, ETH, BCH, USDC, GUSD, and PAX. These seven cryptocurrencies...
As the case between the Reserve Bank of India (RBI) and the Supreme Court continued, the RBI said that its circular of asking banks to stay away from cryptocurrency transactions stemmed from a long-held policy that alternative payment mechanisms could end up disrupting the nation’s banking system. RBI’s lawyer Shyam...
The Democratic majority that runs the House Financial Services Committee has proposed a draft to block large tech organization from offering financial based services or issuing virtual currencies in the US. The bill has been distributed for discussion, according to Reuters. On Monday, Reuters saw a copy of the proposed...