WazirX – A Crypto Exchange Investing in Security Developing in the Indian Market

The crypto industry is growing rapidly in India, with new companies like WazirX entering the market. WazirX is a P2P exchange that allows users to buy and sell cryptocurrencies without going through a third party.  This review will analyze how WazirX is currently leading the way in the Indian crypto market growth. What Is WazirX? WazirX is a crypto exchange allowing users to trade cryptocurrencies. It also allows users to store their cryptocurrencies in the WazirX wallet. WazirX’s concept came…

India Leads 26 Other Countries in Terms of Play-to-Earn Adoption

According to a recent NFT research, India ranks first among 26 countries on the basis of play-to-earn (P2E) gaming adoption. Indian Players Outnumber Hong Kong's and UAE's As per the survey, approximately 34% of respondents in India have experience with play-to-earn games. To be clear, play-to-earn games are blockchain-based games in which players receive incentives with real-world value. Since the outbreak of the pandemic and the rise of the work-from-home culture in India, the popularity of P2E games has soared.…

Pakistan Central Bank Proposes Total Crypto Ban

Pakistan's authorities consider a complete ban on crypto after a scandal that cost thousands of investors $100 million. A committee headed by the bank's deputy governor recommended a complete ban on crypto. On Thursday, Sima Kamil, deputy governor of the State Bank of Pakistan (SBP), submitted the findings to the provincial court. After a careful risk-benefit analysis, it emerged that risks of cryptocurrency far outweigh its benefits for Pakistan. The committee cited concerns over the balance of payments, losses to…

India Likely To Delay Anti-Crypto Bill

India's crypto future remains uncertain. Crypto remains a heated topic in India as the new bill appears to be delayed again. The bill is listed for the winter session of the Parliament, which will end on Dec. 23. It is unlikely that the bill will pass by that time. Moreover, a similar statement was also listed for earlier sessions this year. The government is reportedly considering more changes to the proposed bill. However, sources also cited needing more time to…

Hackers Use Indian PM Twitter To Post About Bitcoin

The Twitter account of Indian Prime Minister Narendra Modi was a target of a hacker attack on Sunday. Hackers gained access to the history and posted a tweet about Bitcoin: India has officially adopted bitcoin as legal tender. The government has officially bought 500 BTC and is distributing them to all residents of the country The tweet came amid a debate on crypto regulation in India. Just a few months ago, it seemed that India was about to ban crypto.…

India Reconsiders Crypto Ban, Following Criticism

India may issue a blanket ban on all cryptos, statements from top officials indicate. However, the government is drafting a new bill that would allow for the private use of cryptos. Just last week, the country introduced a Cryptocurrency and Regulation of Official Digital Currency Bill 2021. The bill spooked investors, as it was identical to the draft of the 2019 bill to ban crypto. The bill wrote that it intended to "create a facilitative framework" for India's official digital currency. To…

Bitcoin Drops as Much as 15% in India After Proposed Crypto Ban

Panic selling in India caused crypto prices to crash as the country's parliament introduced a bill to ban crypto. Bitcoin tumbled 14.8% on the Indian WazirX crypto exchange two hours after the announcement. Other cryptos posted losses in the double digits as well. For instance, Ethereum dropped 15%, and the stablecoin Tether dropped almost 18%. At one point, Bitcoin was trading at a 15% discount in India, compared to other exchanges. However, this spread has since dropped first to 3%…

Reserve Bank Of India (RBI) Governor Expresses Concerns on Cryptocurrency

India's central bank, the Reserve Bank of India (RBI), is worried about the effect of cryptocurrencies in the region. The bank is also developing the digital rupee as it looks to join the list of countries with Central Bank Digital Currencies (CBDC).  Crypto Concerns from India's Apex Bank   RBI governor Shaktikanta Das echoed this latest concern in an interview with local news outlet CNBC TV-18 on Wednesday. Das revealed that the bank had significant problems with cryptocurrencies and had informed…

Indian Billionaire Implores The Country’s Regulators To Ban Bitcoin

Rakesh Jhunjhunwala, an Indian billionaire investor and partner in the asset management firm, Rare Enterprises, has called on its financial regulators to place a ban on cryptocurrencies, especially bitcoin. A Speculative Investment According to a CNBC report on Tuesday, Jhunjhunwala said that crypto trading is the highest form of speculative investment and that he had no intention of joining the trend. Popularly referred to as "India's Warren Buffet," Jhunjhunwala does not hide his dislike for the top cryptocurrency, bitcoin. He…

1 2 3