Page 12 - Cryptocurrencies

Bitcoin rises above $80,000 for first time on optimism over Trump's victory

The cryptocurrency climbed as much as 4.7% to an unprecedented $80,092 on Sunday

Cryptocurrencies huge risks to financial stability, says RBI Guv Das

Cryptocurrencies are huge risks to financial stability, and monetary stability, Reserve Bank of India Governor Shantikanta Das said Friday, asserting it may create a situation where the central bank may lose control of money supply in the economy. I am actually of the opinion that this is something which should not be allowed to dominate the financial system. Because it has huge financial stability risks, it has huge monetary stability risks, it also poses risks to the banking system. It also may create a situation where the central bank may lose control of money supply in the economy, RBI Governor Shantikanta Das said during his appearance at the Peterson Institute for International Economics, a think-tank. If the central bank loses control of money supply in the economy, how does the central bank check liquidity available in the system? How does a central bank control inflation by squeezing money supply or by losing money supply in times of crisis? So, we see crypto as a big risk,

9,000 WazirX users wrongly receive moratorium support confirmation

WazirX, which is facing liabilities amounting to $546.5 million, had floated a user poll to measure potential interest in its moratorium application

19 family members dupe Maharashtra brothers of Rs 1 crore in crypto scam

Maharashtra police have booked 19 family members for allegedly scamming two siblings out of over Rs 1 crore in a cryptocurrency fraud, promising returns of up to 12 times on their investments

Singapore court grants 4-month moratorium to WazirX after $230 mn hack

Thankful for the court's decision, it will allow us to focus on our path to resolution, recovery and restructuring, says Nischal Shetty, co-founder, WazirX

India leads in crypto adoption for 2nd straight year, shows report

Report from blockchain analytics company Chainalysis which tracks adoption across four sub-categories in 151 countries, showed India ranked high on usage of centralized exchange finance assets

Two more offshore crypto bourses may get nod to resume India operations

The financial intelligence unit is reportedly reviewing requests from four crypto exchanges previously banned for non-compliance with anti-money laundering laws

Cryptoverse: Bitcoin ETFs take $50 bn baby steps toward bigger milestone

The path to wide acceptance as a mainstream asset may be slow and twisting

WazirX plans restructuring, seeks white knight; users set to lose 43% funds

WazirX customers may get anywhere between 55-57 per cent of funds back

Australia leads world market in crypto ATM growth as kiosks pour in

Crypto kiosks dominate the cash-to-crypto industry, which has processed at least $160 million in illicit volumes globally since 2019, according to TRM

To ban or regulate? Govt's cryptocurrency paper likely by October 2024

In October 2023, G20 finance ministers and central bank governors adopted the roadmap on crypto assets proposed in the synthesis paper, calling for its swift and coordinated implementation

After forensic analysis, WazirX blames wallet provider for crypto heist

Liminal clarifies its systems were not compromised

Crypto markets rebound on Tuesday amid global equity market recovery

The oldest cryptocurrency, Bitcoin, which registered a fall of over 12 per cent yesterday, has jumped over 9 per cent in the last 24 hours

Market Mayhem: Bitcoin crashes below $50k; Ethereum, BNB fall up to 20%

The popular cryptocurrency has traded in the range of $49,121.24 (low) to $61,058.94 (high) in the last 24 hours

Crypto scam: ED seizes Rs 1-cr cash during raids in Leh, other places

An amount of Rs 1 crore and "incriminating" documents were seized following raids against operators of a "fake" cryptocurrency investment company that cheated people in Ladakh and some other places, the Enforcement Directorate said Sunday. The searches were undertaken on August 2 in Leh, Jammu and Sonipat in Haryana under the provisions of the Prevention of Money Laundering Act (PMLA). Officials had said this was the first time that the federal anti-money laundering agency carried out searches in Ladakh. The probe pertains to cheating of innocent people, including people of Leh, by assuring them of doubling their investment in a short period of 10 months through investment in fake cryptocurrency named Emollient Coin, the agency said in a statement. This "fake" cryptocurrency, as per the ED, was represented and promoted by Naresh Gulia of Sonipat through a company named Emollient Coin Limited that was incorporated in September, 2017 in the United Kingdom. The business was promoted a

ED undertakes first-ever searches in Ladakh in cryptocurrency fraud case

In its first ever raids in the Union Territory of Ladakh, the Enforcement Directorate on Friday conducted searches as part of its money laundering probe linked to a cryptocurrency fraud case in which investors lost more than Rs 7 crore worth of deposits, officials said. The agency's zonal office here raided at least six premises in Leh town of Ladakh, Jammu in J-K and Sonipat in Haryana in the case against A R Mir and others. It is alleged that 2,508 investors deposited more than Rs 7.34 crore in a fake cryptocurrency business in the name of "Emollient Coin Limited". They, however, did not get any returns or currency back, and these funds were laundered by the business' promoters to purchase land assets in Jammu. The money laundering case stems from a March 2020 FIR registered in Leh and some other complaints filed in the Union Territory (UT) of Jammu and Kashmir (J-K) against Mir and Ajay Kumar Choudhary. Police in Leh in their FIR stated that an inquiry was conducted by a committ

Trump pledges to fire SEC Chair Gensler, hire people who 'love' crypto

He also pledged to form a crypto industry presidential advisory council, create a stablecoin framework, and called for a scale-back in enforcement

Bitcoin hits $60,000 as Trump shooting boosts re-election odds: Report

Trump's chances of becoming president again increased after today's developments, according to PredictIt data

Scams keep haunting crypto market, aided by AI, social media: Report

Scams continue to haunt the asset class, and there are signs they have picked up again amid this year's rebound in the market

Crypto exchange Binance seeks to slash size of $13 billion UK lawsuit

Lawyers representing BSV Claims, a vehicle set up to pursue the case, say the exchanges engaged in anti-competitive behaviour to delist BSV in 2019