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JP Morgan partners with six Indian banks for blockchain-based interbank dollar settlements

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June 6, 2023

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JP Morgan Chase & Co. has partnered with six Indian banks to launch a blockchain-powered platform for settling interbank dollar transactions in India’s emerging international financial center. The pilot program commenced June 5 and is expected to run for several months, as stated...

JPMorgan partners with Indian banks to enable dollar trading via blockchain

0xMain
June 5, 2023

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Global financial giant JPMorgan has announced a strategic partnership with six major Indian banks to launch a blockchain-based platform to settle interbank dollar transactions. This latest move is part of a broader effort to promote the growth of Gujarat International Finance Tec-City (GIFT...

New turmoil swings Indian crypto exchanges in balance

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May 31, 2023

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India’s stringent crypto taxation and shadow banking ban have driven crypto exchanges into survival mode. Despite this challenge, the industry is adapting, with exchanges exploring innovative strategies to stay afloat. India‘s imposing a stringent 30% tax on crypto profits and a 1% TDS...

Rajeev Chandrasekhar, Indian IT minister, pledges support for crypto and web3

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May 24, 2023

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Minister Chandrasekhar highlighted the primary objective of the Digital India Act (DIA) to provide a secure and reliable online environment for all digital projects, emphasizing the importance of ensuring a safe internet experience. As India’s internet user base is set to reach 1.3...

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Indian authorities urged to restore access to UPI for crypto exchanges

0xMain
May 17, 2023

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An Indian crypto exchange and a policy firm have independently made appeals to the government, urging the restoration of access to the national Unified Payments Interface (UPI) for crypto firms following its apparent suspension in 2022. While the proposals were not coordinated, they...

Indian government announces new crypto regulations

0xMain
March 9, 2023

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India’s stance on cryptocurrency and token transactions has been a topic of much discussion in recent times. Now, the country’s finance ministry has issued a notice outlining its plan to regulate virtual digital assets and clarifying the application of anti-corruption regulations in the Prevention...

Indian minister has no beef with regulated crypto

0xMain
January 19, 2023

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The Minister of Information Technology in India, Rajeev Chandrasekhar, said that there would be no problems using cryptocurrencies inside the nation provided the relevant regulations are adhered to. Chandrasekhar commented on cryptos while speaking at an event in the city of Bengaluru, located...

Indian crypto industry calls for tax cuts amid investors’ exodus

0xMain
January 18, 2023

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India’s local crypto institutions have collectively demanded tax reliefs on crypto investments as investors flocked to foreign exchanges following the unfavorable tax policies imposed on digital asset investments. The local industry is calling on authorities to reduce the TDS rate from the current...