Page 7 - Cryptocurrency

Switzerland to exchange crypto info with India, 73 other countries

Switzerland on Friday proposed an automatic exchange of information on crypto assets with India and 73 other countries, a move likely to help track funds stashed by Indians abroad in virtual currencies. India and Switzerland already have an automatic exchange of information framework in place for bank accounts and other financial assets held by Indians in Switzerland, and vice versa. The two countries exchange this information yearly, and it has helped Indian authorities unearth many cases of undisclosed funds stashed abroad by Indians. While there are no clear-cut regulations as yet in India on cryptocurrencies, they are regulated from the perspective of anti-money laundering laws. The Reserve Bank of India has consistently maintained that it is concerned about cryptocurrencies as they can hamper financial stability, but these virtual currencies are considered legal tender in various other countries. While there are no official estimates, it is suspected that a large number of ..

RBI Guv flags crypto concerns, says it may hamper financial stability

RBI Governor Sanjay Malhotra on Friday said the central bank is concerned about cryptocurrencies as it can hamper financial stability. Malhotra was replying to a question during a media interaction post the RBI monetary policy about the developments in the backdrop of the Supreme Court's observation on crypto currency last month. "There is no new development as far as crypto is concerned. A committee of the government is looking after this. Of course, as you are aware, we are concerned about crypto because that can hamper financial stability and monetary policy," Malhotra said. The Supreme Court has last month asked the Centre to formulate a "clear cut" policy on regulating cryptocurrency, while underlining its impact on the economy. A Supreme Court bench termed the Bitcoin trade as an illicit trade more or less like "hawala" business. India is currently working on a discussion paper for cryptocurrencies and an inter-ministerial group (IMG), comprising officials from RBI, Sebi and

Singapore court rejects restructuring plan of WazirX parent Zettai

Zettai's failure to disclose a Panama-based subsidiary led Singapore High Court to reject its crypto restructuring plan, delaying payout of seized digital assets

Supreme Court calls crypto laws obsolete, urges govt to act on regulation

In earlier hearings, the Supreme Court likened unregulated Bitcoin trade to hawala, warning that the absence of clear rules creates opportunities for misuse and poses serious financial risks

Pakistan plans bitcoin reserve but govt says crypto still banned at home

Within a day of unveiling a state-backed bitcoin reserve plan in the US, Pakistani officials said cryptocurrency remains illegal under current regulations and no legal change has been made

Vance urges crypto industry to engage in politics, touts govt's record

US Vice-President J D Vance on Wednesday praised the cryptocurrency industry and urged it to remain active in US politics and policymaking, highlighting the Trump administration's close ties to a deep-pocketed industry that's become a powerful force in Washington. Speaking at a bitcoin conference in Las Vegas, Vance urged the crypto executives and enthusiasts to keep pressure on Congress to pass pro-crypto legislation supported by the White House. We have a once-in-a-generation opportunity to unleash innovation and use it to improve the lives of countless American citizens, Vance said in his address. But if we fail to create regulatory clarity now, we risk chasing this $3 trillion industry offshore in search of a friendly jurisdiction. Vance's speech comes after Trump promised to make the US the crypto capital of the planet when he addressed the same bitcoin conference in Nashville last year in the middle of the presidential campaign. The crypto industry, which felt unfairly attac

French crypto chiefs step up security after string of violent kidnappings

All targeted people with ties to the cryptocurrency world - in most cases, family members of crypto entrepreneurs or influencers

Bitcoin steady at $108k as market awaits move; Ethereum eyes $3,000

Market analysts called the current consolidation healthy and said it indicates investors are waiting for clearer breakout or breakdown signals

Crypto market update: Here's how Bitcoin, Ethereum, others are faring today

Market analysts believe that Bitcoin has recovered after macro concerns about US-European trade tariffs made it retest support around $106,500

Some US banks explore venturing into crypto with joint stablecoin

However, the newspaper said that the bank consortium discussions are in early, conceptual stages and could change

Donald Trump's crypto dinner raises questions about personal profit

President Donald Trump rewarded top investors in one of his cryptocurrency projects with a swanky dinner on Thursday night, an event that showed the ascendance of an emerging financial industry and also the president's willingness to mix public office with personal profit. Some 220 of the biggest investors in the $TRUMP meme coin were invited to Trump's luxury golf club in Northern Virginia, where they dined on filet mignon and halibut. According to participants' posts on social media, Trump spoke for about half an hour before dancing to the song YMCA. Despite the White House insisting that Trump would be attending the event in his personal time, he stood behind a lectern with the presidential seal as he touted an industry that's generating profits for his family business. After feeling unfairly targeted under President Joe Biden, the crypto industry has quickly become a powerful political force, donating huge sums to help Trump and friendly lawmakers. The U.S. Senate is advancing

Bitcoin tops $111,000 for first time as US optimism lifts cryptocurrencies

A wave of optimism is buoying Bitcoin after the advancement of a key stablecoin bill in the US senate fueled hopes of greater regulatory clarity for crypto operators

Crypto industry once saw Trump as ally, now fears his profit-first approach

It seems like a triumph for a cryptocurrency industry that has long sought mainstream acceptance: Top investors in one of President Donald Trump's crypto projects invited to dine with him at his luxury golf club in Northern Virginia on the heels of the Senate advancing key pro-crypto legislation and while bitcoin prices soar. But Thursday night's dinner for the 220 biggest investors in the $TRUMP meme coin has raised uncomfortable questions about potentially shadowy buyers using the anonymity of the internet to buy access to the president. While Democrats charge that Trump is using the power of the presidency to boost profits for his family business, even some pro-Trump crypto enthusiasts worry that the president's push into meme coins isn't helping their efforts to establish the credibility, stability and legitimacy they had thought his administration would bring to their businesses. After feeling unfairly targeted by the Biden administration, the industry has quickly become a ...

AI hyped but better grounded than crypto, says Red Hat CTO Chris Wright

Chris Wright compares AI trajectory to early days of cloud tech; Red Hat to focus on enabling flexible infrastructure for AI workloads across platforms

US Senate advances Bill to regulate stablecoins, a type of cryptocurrency

The Senate has voted to move forward with legislation to regulate a form of cryptocurrency called stablecoins, two weeks after Democrats blocked the measure. Monday's 66-32 procedural vote keeps one of President Donald Trump's top legislative priorities on track for passage and highlights the growing political strength of the cryptocurrency industry, which spent heavily in last year's election and has amassed a large war chest for next year's midterms. Several Democrats reversed and voted to move forward with the legislation after negotiations with Republicans in recent days. The fate of the legislation, which would regulate how stablecoin issuers operate in the U.S, had been uncertain in recent weeks despite early bipartisan support. Senate Democrats blocked it earlier this month in part over concerns about how Trump and his family were benefiting from private crypto endeavors, including a newly launched stablecoin. Republicans won support from Democrats after strengthening ...

What role will central banks play when tokenised finance goes mainstream?

With apps like Robinhood easing investing, Millennials and Gen Z reject private banks offering unlisted unicorns to their wealthy parents but not to actual users of these startups' services

Coinbase Global to become first crypto exchange to join S&P 500 index

With the inclusion, Coinbase Global will replace Discover Financial Services in the S&P 500 index

Crypto market update: Here's how Bitcoin, Ethereum, others are faring today

Bitcoin's consolidation around the $104,000 level, Riya Sehgal, research analyst at Delta Exchange, said, signals a maturing market showing resilience despite a sharp drop in spot ETF inflows

Crypto markets rangebound as Bitcoin retreats below $104k; US PPI data eyed

Among other altcoins, Cardano (ADA) was down 4.18 per cent, Solana (SOL) declined 4.08 per cent, Ripple (XRP) fell 2.18 per cent, and Binance Coin (BNB) dropped 1.7 per cent

Bitcoin surpasses $100,000 amid wide-ranging US-UK trade deal optimism

By midday, bitcoin was trading at $101,402.19, a 4.8 per cent gain on the day. The world's biggest cryptocurrency has clawed its way back into positive territory for the year