Bybit registers with India’s FIU after settling $1m non-compliance penalty
Cryptocurrency exchange ByBit is set to resume its services in India after registering with the country’s Financial Intelligence Unit. In a press release shared with crypto.news, ByBit said it is now registered with the FIU and compliant with and compliant with India’s Prevention of Money Laundering Act. “We have been working diligently with the FIU-IND […]
India’s Birla Group-backed business school launches in-house crypto, BIMCOIN
Birla Institute of Management Technology, a premier business school in India, has launched its in-house cryptocurrency for use on campus. Dubbed BIMCOIN, the cryptocurrency will help enable transactions between students, vendors, and administrators while also serving as a practical tool for hands-on learning in blockchain and digital finance, according to an official press release. BIMTECH, […]
Crypto poses risks to India’s financial stability: RBI
Cryptocurrencies, including stablecoins, pose significant risks to financial stability, according to the Reserve Bank of India. Reiterating its long-held anti-crypto stance, the RBI highlighted the various risks involved with digital assets in its Dec. 30 Financial Stability Report for 2024. While crypto adoption flourished at the grassroots level in India this year, the RBI raised […]
India’s chief economic advisor calls for regulation that doesn’t hinder crypto innovation
India’s chief economic advisor wants regulators to foster innovation in the cryptocurrency sector while upholding transparency and accountability. Speaking at the Global Economic Policy Forum 2024, V. Anantha Nageswaran, the Chief Economic Advisor of the Ministry of Finance, said regulators “must not stand in the way of so-called innovations in crypto and Bitcoin.” He emphasized […]
