[India is now a vibrant cryptocurrency hub, but its future remains uncertain. Sathvik Viswanath of Unocoin explains what's holding back the nation of 1.3 billion.]

India is now a vibrant cryptocurrency hub, but its future remains uncertain. Sathvik Viswanath of Unocoin explains what's holding back the nation of 1.3 billion.


Two years ago in April 2018, the dream of having one of the largest populations in the world become avid adopters of cryptocurrency ground to a halt. The Reserve Bank of India (RBI) issued a circular preventing banks from providing formal financial services to Indian cryptocurrency businesses and the nation’s 1 million crypto users were left stranded, not knowing how much to bank on digital assets for their wealth and means of paying for things.

Sathvik Viswanath, Unocoin
To think that RBI’s crypto-banking ban would be overturned may have been far-fetched for some, yet a historic decision by the Supreme Court in March 2020 proved a dramatic comeback for India’s cryptocurrency industry. With the tested resilience of the industry and the unprecedented Covid-19 pandemic bringing the world’s confidence in traditional markets into question, 2020 has worked out to be the best year yet for crypto in India.

Today, India is increasingly recognized as a bustling cryptocurrency hub worth the attention of both traders and venture capitalists looking to cash in on the opportunity. With record trading volumes and customer growth rates across exchanges, new exchanges entering the industry, and an influx of foreign investments into the burgeoning sector, there are signs that things are back on track to achieve mainstream adoption.
 

continue reading : https://forkast.news/india-cryptocurrencies-regulations-kyc-aml-transactions-reserve-bank-india/

Co founder and CEO of Unocoin exchange commented about the importance of crypto regulations in India on this article.

So as community members make some time to read about the crypto related happenings in our country and also share if you found anything new.

India’s digital assets space continues to see rapid development, with the latest news from the subcontinent being cryptocurrency financial services offered at physical branches.

According to a blog post from digital finance firm Cashaa on Tuesday, a new joint venture with the United Multi State Credit Cooperative Society will provide users with cryptocurrency services alongside traditional banking at 22 locations in the northern part of the country.

A launch is slated for December of this year, with Cashaa saying the plan is to expand the service to over 100 branches by 2022.


Cashaa, which calls itself a “crypto-friendly neo-bank,” said it was planning a move into India when it raised $5 million from a Dubai investment firm in early September.

The joint venture, called UNICAS, will offer crypto savings accounts; lending with gold, cryptocurrency and property as collateral; and crypto buying and investment.

At launch, UNICAS will list six major cryptocurrencies for purchase with Indian rupees: bitcoin (BTC), ether (ETH), bitcoin cash (BCH), EOS, litecoin (LTC) and XRP. Binance coin (BNB) and Cashaa (CAS) will also be offered.

The credit cooperative society already has regulatory licenses in India, which will bring Cashaa access to the local market, the post said.

“This will allow us to build, scale and offer customized financial and crypto products for the local Indian markets,” said Dinesh Kukreja, managing director of United Multistate Credit Cooperative Society and CEO of UNICAS.

India has been seeing something of a crypto renaissance since the central bank’s ban on banking services for digital assets companies was overturned by the Supreme Court in March.


Since then, crypto exchanges have reported surging trading interest and volumes, while investors have been flocking to invest in the startups rising in the underserved market.

Hanging over all of this like a dark cloud is the fact that the country’s government still hasn’t produced long-rumored regulations around cryptocurrency, with some reports suggesting a possible crypto trading ban may be in the cards.

According to this blog,soon there will be 22 crypto friendly banks will be established.Do you think this is going to change the trading activities of cryptos in India?

Everyone might be aware of IPL - Indian premier league, one of the biggest tournament in the cricket history. Since its Indian premier League I thought we should have a thread for it and I am not sure we have any cricket fans here but I am interested in creating this initiative.

I am aware of the IPL thread in main gambling board but that is only limited to pool participants so I can't post my opinion there since I didn't participated in it.

Everyone can post their opinions, predictions and anything about the on going tournament! But try to avoid spams...

Few hours earlier one of the most used online banking app in India has been removed by Google's playstore and the reason told for this temporary removal is Paytm violates Google's gambling policies.

Full explanation : https://www.google.com/amp/s/www.indiatoday.in/amp/technology/news/story/paytm-app-vanishes-from-google-play-store-reason-not-yet-known-1723052-2020-09-18

Have you heard that? Uniswap offers 400 UNI tokens for every address which had atleast a single swap before Sep 2020 and current worth of 400 UNI token is 1,60,000 INR probably will increase a lot in the next few hours.

Most of you guys might heard that India and China is having border issues for a long time but in the recent times especially at the time of covid 19 China is trying to takeover the buffering border which is not meant for both countries and no one have to camp on such places.Lot of soldiers lost their lives due to the recent clash.

As a result of this India started to ban most famous 58 Chinese apps which includes apps like Tiktok,UC browser,Clean master which happen almost month ago.But again few days back there was some clashes between both armies which resulted further banning of 118 apps, importantly Pubg has been banned.India plays a big role in the game like Pubg and it also helped lot of youngsters to build their esports career but now it also banned.

Do you guys think this is the right way of attacking back?

Just few minutes before there was a plane crashed in Kerala state and not sure about number of people died but official news confirmed that Pilot died in that crash.

More details can be found here : Air India Express B737 overshoots Kozhikode airport on landing, falls into valley & breaks into two

Indian community have you heard about EIA2020?

It has been trending in most of the social media for the past few days because Indian government is trying to cut down the tranperency while approving EIA for any projects upon this new draft.Indian government blocked every website which mention about its harm so why they always trying to take our freedom?
Why draft EIA 2020 is problematic

I am seeing lot of news regarding India's richest person now entered into the 6th position of the world's most richest person with net worth over 72 billion dollars.Morevoer alphabet's founders and Warren Buffet are still behind Mukesh Ambhani in this list.

source: https://www.timesnownews.com/business-economy/companies/article/mukesh-ambani-pips-larry-page-to-become-6th-richest-in-the-world-as-net-worth-crosses-72-billion-mark/621052

edit : he is now in the 5th spot

edit 2 : now 4th

We all knows that the whole world got stucked in economic activities due to the spread of covid 19 so many governments decided to give financial packages to EMIs while India as well announced moratorium for three months now again extended it until August.

But most of the banks and financial institutes ask every individual to pay their loans compulsorily even in the moratorium period so what should we do against their aggressive behaviour while collecting dues even when people are starving.

Our financial minister said that we can individually complain if someone ask our due amount when we wanted to pay directly to the ministry but do you guys think it is possible?

If anyone from Maharastra and Gujarat, may already knows about how much serious cyclone you are all going to face.

Mumbai the second most dense city in the world is going to face such a natural calamity in less than 24 hours, and this can bring a huge economic disaster to India even compared to corona because Mumbai is the economical capital of India and most of the companies are having headquarters in that city.I will update post news of this attack soon.

Any mobile gamers? I am looking for the best way to live stream a gameplay from my android devices into youtube without connecting it into external devices like PC.

Found few apps like arcade omlete and streamlabs but is there any better alternatives to this?

Facebook buys 9.99% stake in Reliance Jio for Rs 43,574 crore

Due to the oil price crisis and not enough profits from Jio the India's richest person is forced to sell the stakes for other companies to pay the debts which was clearly used by facebook and bought the stakes for very cheap prices.

This is going to be a boon or curse for Indians?

In 2019,more than 1000 CEOs of popular companies CEO resigned their position and even many sold their stocks until Jan 2020 which has anything to be corelated with stock market crash?

Illuminati is real.

RBI announces 3 months Moratorium on repayment of term loans aka EMI from March 1 to May 31 and they mentioned that there will be no affect on cibil scores as well but still there is no clear indication of how and which banks are going to implement it.

Source: https://economictimes.indiatimes.com/wealth/borrow/lending-institutions-to-allow-3-month-moratorium-on-all-term-loans/articleshow/74840850.cms

Is it applicable to current outstanding credit card dues as well?

This March 22, every Indian were asked to stay indoors from 7 am to 9 pm so how many of you actually doing it and what is the status of your locality.Share your experience and lets see how Indians are cooperating with government to stop this virus spread.

In my place everything looks empty,no one on the streets,roads and markets not even a shop opened in my whole town.

Source: https://www.statnews.com/2020/03/11/who-declares-the-coronavirus-outbreak-a-pandemic/

Security measures and advises from WHO official site: https://www.who.int/emergencies/diseases/novel-coronavirus-2019/advice-for-public

Its really sad situation now, everyone brace yourself to face the virus attack,make yourself more warm and secured from anyone and anything.

I know this is not related to cryptos so it doesn't fit into the main board but to get attention as soon as possible I am posting this here.

One I got enough people this will be moved to off-topic.
As mentioned in the topic this is an query about reporting them effectively and anonymously.

We all knows that corona topic becomes the hot topic around the globe from the past week but still WHO didn't announced it as emergency situation around the world because they said only people in China affected due to this virus but not the virus spreading everywhere like Germany,USA and India where few cases were reported and few people from airport is under survilence due to the virus sympotoms.

Be safe guys make sure everything you eat was processed perfectly.

Hope everyone celebrated their new year party and now might be on hang over.

Jokes apart lets take a resolution related to bitcointalk in this new decade of 2020 as bring our Indian board with more informative,no spam and especially more active community.