As preference and use for cryptocurrency and blockchain increases, several countries are devising numeral measures to fit into the industry. As a result, diverse regulatory approaches have been leased into the crypto industry for different jurisdictions.
While some take a strict position resulting in a complete ban of crypto assets in their region, others are still skeptical and reluctant to step into the crypto space. Hence, there are places where cryptocurrency has a partial ban on its use and application.
India has not fared quite well in the crypto space. The country has battled many crypto regulatory issues on trading and other transactions with virtual assets. In addition, the Indian government and its Central Bank have shown cold feet regarding using crypto assets.
The collapse of the Terra-LUNA ecosystem that negatively affected the broader crypto market resulted in more opposing forces from government officials. RBI Governor stated that the digital assets are full of danger. Hence, people should be cautious of the high risk within the crypto market.
Despite the odds of interacting with digital assets, India is still putting more effort into formularizing with cryptocurrency. The nation does not want to leave behind the growth evolution, and possibilities surrounding the virtual space.
In a recent development, some top influencers in India launched a Blockchain Forum to keep up with the spur of the time. Our source stated that some officials from the Telangana government in Hyderabad are behind this development.
According to the report, the launch of the blockchain organization targets to put India at the forefront within the Web3 section in digital space. Currently, the digital Forum already has up to 40 key influencers who joined as its members.
The Blockchain Forum is committed to creating community chapters within India to spread more awareness of Web 3. Also, the Forum plans to collaborate with academia and other research institutions for more significant achievements.
Additionally, through the Blockchain forum, it would become easier to engage in policy-making ensuring efficient blockchain technology adoption. Also, it would spike the interest of people in India in different sectors in the virtual space. These include a move into the Metaverse and the central bank digital currency (CBDC).
The Forum will soon throw its doors open for membership from different stakeholders. This is part of its objectives in developing the largest Web3 interactive forum.
In facilitating this new move, the government of Telangana plans to unveil a Web3 regulatory sandbox. This would support new projects and applications focusing on tokenization, NFTs, and others. Also, through the sandbox, developers will easily establish more contacts with stakeholders that would cut across policymakers and regulators.
Featured image from Pixabay, chart from TradingView.com
An Apple employee is suing the company for allegedly monitoring personal devices and iCloud accounts linked to work, even when off-duty. The lawsuit challenges Apple's policies, claiming they violate privacy laws by tracking employees' personal data without consent.
JoyDonald Trump's administration plans to create a national Bitcoin reserve, boosting Bitcoin's role in the global economy. State-level and institutional support is growing, with 10 US states preparing their own Bitcoin reserve plans.
WeatherlyVirgin Voyages is making history as the first cruise line to accept Bitcoin, expanding on its innovative seasonal passes for unlimited voyages. Will this bold move chart success or face rough seas?
CatherinePresident-elect Trump has approached pro-crypto advocate Paul Atkins to lead the SEC, but insiders say the challenge of reforming Gensler's contentious agency may dissuade him.
KikyoMOG's price surged over 20% after Coinbase announced on 3 December 2024 that it would list the token on its exchange, sending its price to $0.00000243. The meme coin's market cap is now approaching $1 billion, securing its position in the top 150 cryptocurrencies.
WeatherlySam Altman believes Trump can position the US as a global AI leader, stressing the need for strong infrastructure. The OpenAI CEO calls for regulations that promote innovation, cautioning against policies that could stifle AI progress.
CatherineIlluvium has partnered with Casio's G-Shock to release limited-edition NFT cards featuring six iconic characters, launching on 9 December 2024. This collaboration combines gaming and physical collectibles, offering fans exclusive digital cards and a chance to unlock a custom Illuvium x G-Shock watch.
AnaisCrypto prices plummeted briefly after President Yoon Suk-yeol’s martial law declaration, but has been quickly overturned by unanimous legislative opposition. Could this mark the downfall of his leadership?
KikyoGoogle has launched Veo, a model for generating realistic videos from text or image prompts, now available on Vertex AI for developers. Alongside, Imagen 3 offers advanced text-to-image features, enabling businesses to create custom assets and visuals for marketing and creative projects.
WeatherlyStanislav Moiseev, founder of the Hydra darknet market, and 15 accomplices have been sentenced to prison for operating the illicit platform and crypto mixer. Hydra facilitated over $5 billion in cryptocurrency transactions before its closure.
Catherine