Category: Cryptocurrency

The crypto market seems to be struggling to regain momentum amid a slowed down week. On Friday, September 6, Bitcoin saw a loss of between 1.06 and 2.03 percent on national and international exchanges. The oldest and the most expensive cryptocurrency is trading at the price point of $56,530 (roughly Rs. 47.4 lakh) on international…

The US Federal Bureau of Investigation (FBI) has warned crypto investors about the increasing danger posed by sophisticated North Korean hackers. The aim of these cybercriminals, according to the US investigative agency, is to steal hefty crypto reserves from firms that are operating services related to digital assets. These hack attacks have been described as…

India’s CoinSwitch crypto exchange is expanding its services portfolio to now focus on high networth individuals (HNIs) and institutional investors. In an announcement shared on Thursday, September 5 – the Mumbai-headquartered exchange said with this service, it aims to provide HNIs with personalised investment advisory and detailed risk management solutions among other inputs. In India,…

Japan’s Financial Services Agency (FSA) aims to promote treating cryptocurrencies akin to traditional assets such as stocks and gold. As part of this effort, the FSA has reduced tax rates on income generated from crypto activities. Corporate crypto holders will face slightly higher rates, while small-scale individual investors will benefit from comparatively lower taxes. The…

Bitcoin on Wednesday, September 4 continued to stay substantially under the mark of $60,000 (roughly Rs. 50.3 lakh) after seeing a price decline earlier this week. On both Indian and international exchanges, Bitcoin recorded price drops of around four percent on Wednesday. With this, the asset’s price on global exchanges has reached $56,560 (roughly Rs….

The Cardano blockchain team is actively working toward self-sustainability. Recently, Cardano completed its Chang upgrade, propelling the network into the era of decentralized governance. Now, ADA token holders can actively participate in electing representatives and contribute to development discussions. The Chang hardfork was implemented on block 10,764,778, according to reports. Essentially, Chang upgrade’s completion is…

Crypto ATMs, which allow users to purchase cryptocurrencies with cash, have become a significant catalyst for illicit transactions in recent years. A recent report by blockchain intelligence firm TRM Labs reveals that the rate of illicit activities involving crypto ATMs is double that of the broader crypto ecosystem. Between 2019 and 2024, crypto ATMs have…

On Monday, September 2, the WazirX team, including co-founder Nischal Shetty, held a virtual townhall with members of the media. During this meeting, Shetty informed Gadgets360 that users in urgent need of funds have begun withdrawing their Indian Rupee (INR) balances from the platform. Initially, after the unfreezing of 66 percent of users’ INR balances…

Nasdaq is seeking the green light from regulators to launch and trade options on a Bitcoin index, the exchange operator said on Tuesday. The US Securities and Exchange Commission (SEC) has yet to approve options based on any of the individual exchange-traded funds (ETFs) tied to spot Bitcoin prices that made their debut in January, including a Nasdaq application to trade options on BlackRock’s $21.3 billion…

Indian crypto exchange CoinSwitch has decided to take legal action against its troubled contemporary WazirX in an attempt to recover its funds stuck on the latter’s platform following a hack last month. In a detailed post published on X, CoinSwitch disclosed that two percent of its total funds — worth Rs. 810 crore (roughly $9.65…

Elon Musk and his electric vehicle company Tesla won the dismissal of a federal lawsuit accusing them of defrauding investors by hyping the cryptocurrency Dogecoin and conducting insider trading, causing billions of dollars of losses. The decision was issued on Thursday night by US District Judge Alvin Hellerstein in Manhattan. Investors accused the world’s richest…

Bitcoin and other cryptocurrencies like Ether saw their prices fall on Friday, fuelled by the ongoing market volatility that has continued to affect the value of these digital assets. The price of Bitcoin dropped by less than one percent on Friday, and it is currently trading at $62,655 (roughly Rs. 52.5 lakh) on Indian exchanges…

The Reserve Bank of India (RBI) is overseeing the creation and distribution of the eRupee CBDC for retail and wholesale payment purposes. The central bank’s approach towards exploring the inclusion of the eRupee into the existing financial system has been praised by Naveen Mallela, global co-head of Onyx, JPMorgan’s blockchain and digital currency unit. Mallela…

The Basel Committee on Banking Supervision (BCBS) has addressed its concerns around permissionless blockchains that are accessible by the public. In an official blog post, the body that sets the international standards of global banking, stated that its issue is not with these blockchains being public, but concerns arise because of these networks being permissionless….

The US Securities and Exchange Commission (SEC) has threatened to sue non-fungible tokens marketplace OpenSea, the company’s CEO said in a post on social media platform X on Wednesday. “OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities,” OpenSea co-founder and CEO…

The Delhi High Court, in a judgment passed on August 23, has ordered the Ministry of Communitions to remove 38 websites impersonating an Indian crypto investment firm within a week’s time. Last week, Mudrex filed a petition with the Delhi High Court seeking action against fraudulent websites after its users reported falling victim to scams….

The Open Network (TON) — the Telegram-linked blockchain network — experienced a technical issue in the early hours of Wednesday that saw the network go offline, prompting exchanges like Bybit and Binance to halt deposits and withdrawals on the network during the time. It appeared that the blockchain was undergoing a network-wide outage before its…

Zettai Pte Ltd, the Singapore-based majority stakeholder in WazirX, has sought a moratorium in order to restructure its finances. A moratorium can be explained as a legal authorisation to debtors to postpone payments. Zettai’s application, filed in a Singapore court, is part of the firm’s attempt to buy some time for WazirX to restructure its…

Bitcoin on Wednesday, August 28, showed a price dip of 4.22 percent in the last 24 hours on Indian exchanges. At the time of writing, BTC was trading at $63,385 (roughly Rs. 53 lakh) on Indian exchanges like CoinSwitch. On international exchanges, meanwhile, the value of BTC has dropped under the mark of $60,000 (roughly…

Argentina is seemingly doubling down on initiatives to equip the next generation of workforce with knowledge and training in emerging technology. In a step towards this direction, the Argentinian authorities have decided to make the study of Ethereum a part of the high school curriculum. For now, this syllabus change has been deployed across high…

Indian crypto exchange WazirX, that was hacked for over $230 million (roughly Rs. 1,928 crore) on July 18, is moving ahead with resuming some services on its platform after more than a month of suspension. In a statement released over the weekend, the exchange said it was resuming INR withdrawals starting Monday, August 26. WazirX…

India’s digital Rupee, or eRupee central bank digital currency (CBDC), is presently in the advanced phases of its trials facilitated by 16 national banks. The eRupee has managed to amass five million users in its pilot stage, RBI Governor Shaktikanta Das claimed Monday. Das was speaking at a conference in Bengaluru when he said that…

Binance CEO Richard Teng, in a post on X, claimed that the exchange has managed to prevent losses of around $2.4 billion (roughly Rs. 20,130 crore) between January and July this year. According to Binance, over 1.2 million global users were protected against financial losses during this period. Touted as the largest crypto exchange in…

The crypto price chart reflected signs of volatility after the latest employment growth data in the US showed that the job market from March 2023 to March 2024 was not as robust as initially reported. Bitcoin on Thursday, August 22 showed a minor price hike of 2.21 percent. With this, the price of BTC on…

Sony’s Web3 exploration has now come to a point that the Japanese tech giant has announced its own blockchain network, named Soneium. The layer-2 network is being built atop Ethereum in collaboration with Startale Labs, the team behind Astar Network. Sony has established a new entity called Sony Block Solutions Labs (Sony BSL) to oversee…

Worldcoin, the controversial proof-of-personhood project by OpenAI’s Sam Altman, has found itself under the legal scanner in Colombia. The ambitious project, that aims to provide unique digital ids to human beings, has been accused of breaching the personal data protection laws in Colombia. This is because Worldcoin collects the iris scans of the eyes of…

Crypto traders in Nigeria have reportedly urged the government to take a measured approach in tackling regulatory issues with crypto firms like Binance. As part of their suggestions to the Nigerian authorities, crypto investors in the country have asked the government to follow India’s approach. In recent months, Binance’s business in Nigeria came to a…

Crypto hackers, known for their relentless attacks on the sector, are now targeting popular brands and celebrities on social media to ensnare unsuspecting victims. In a recent breach, McDonald’s Instagram account was hacked to promote a fraudulent memecoin called ‘Grimace.’ With a substantial following of 5.1 million, the fast-food giant frequently shares promotional content on…

CoinDCX-owned self-custodial wallet Okto announced the launch of a rewards initiative on Wednesday. Okto is looking to incentivise traders that are active on its platforn while simultaneously ramping up user activity. As part of the program, Okto has announced that it will distribute 50,000 ARB (Arbitrum) tokens among its community members. The token pool has…

El Salvador is preparing to upskill thousands of its civil servants as part of a drive aimed at making the government’s workforce more familiar with Bitcoin-related technology. Over 80,000 Salvadoran civil servants will be trained in efficiently using Bitcoin technology. Upon completion of the training, these officials will be provided with a certification. El Salvador…

The crypto price chart, on Tuesday, August 20 reflected gains next to most cryptocurrencies. Bitcoin reflected a gain of 3.5 percent on international exchanges like CoinMarketCap while seeing a loss of 3.05 percent on Indian exchanges like Bitbns. On foreign exchanges, BTC is trading at the price point of $60,973 (roughly Rs. 51 lakh) whereas…

In India, the fintech industry reached an important milestone with the launch of UPI payments in April 2016. By 2027, UPI transactions are expected to cross the 100-crore mark, as per a report by PwC India. August 20 is observed as National Fintech Day to celebrate the annual growth of the collaboration between the sectors…

Binance users in India can now access the exchange’s website after being blocked in December 2023. The crypto exchange, touted as the largest in the world, has finally completed its registration with India’s Financial Intelligence Unit (FIU) and has also cleared the penalty of $2.25 million (roughly Rs. 18.8 crore) that was levied on it…

The International Monetary Fund (IMF) has released a new report highlighting the rising carbon footprint of the crypto sector and stressing the need for control. To address this, the IMF has proposed a significant tax increase on crypto mining businesses to encourage the adoption of greener practices. According to the IMF’s latest estimates, crypto mining…

Apple recently announced that it will soon allow third party developers from countries in the European Union (EU) and select other regions to access the NFC technology on iPhone, on an upcoming beta build of iOS 18.1. This technology that supports contactless payments is currently restricted to Apple Pay and Apple Wallet. This decision could…

The crypto market sentiment, as per the analysts, is extremely fearful at the moment, driven by political conflicts, geopolitical tensions, and other macroeconomic factors fueling volatility. Most cryptocurrencies reflected losses on Monday, August 12. Bitcoin, the most expensive of all cryptocurrencies, reflected a minor gain of 0.91 percent on the price chart that brought its…

Bitcoin on Wednesday, August 14 reflected a price gain of 3.15 percent on international exchanges. With this, the value of BTC on international exchanges has come to the price point of $61,060 (roughly Rs. 51 lakh). On Indian exchanges like CoinSwitch, BTC is trading at around $64,576 (roughly Rs. 54 lakh). As per market commentators,…

The Telecom Regulatory Authority of India (TRAI) is taking active measures to control the menace of spam calls in the country. In a recent move, the country’s telecom watchdog has issued a directive to all network providers, asking them to stop promotional calls from unregistered callers, said an official statement released by TRAI said on…

The global crypto sector has seen an increase in adoption this year, according to a report by crypto exchange Binance. The firm claims that the overall capitalisation of the crypto sector rose by 44 percent or $720 billion (roughly Rs. 60,45,112 crore) in the first half of 2024. The launch of crypto ETFs earlier this…

Crypto startups reportedly managed to see bigger investments from venture capital firms in the second quarter of 2024, compared to the first. As per a report, a total of $2.7 billion were invested into crypto startups between April and June this year. This amount is 2.5 percent higher than what was fetched by crypto startups…

The crypto sector, that is presently valued at $2.05 trillion (roughly Rs. 1,72,11,513 crore), is rife with over 2.4 million cryptocurrencies in circulation with more entering every day. In the memecoin category, a new entrant named ‘Dogs Coin’ is the latest to stir up a buzz. Interestingly, Telegram, the messaging app, is serving as the…

Samsung has forged a new partnership with the NFT game Illuvium to promote its Web3 TVs to a younger, tech-savvy audience. This collaboration is Samsung’s second major Web3 initiative in recent months. In April, the company teamed up with the Wilder World metaverse game to enhance the appeal of its televisions to Web3 enthusiasts. Samsung…

India’s crypto sector has been eagerly anticipating a comprehensive regulatory framework to safely and legally establish and expand their businesses. However, the Indian government is not yet ready to follow regions like the EU and the UAE in presenting a detailed national crypto rulebook. In a written reply to the Lok Sabha, Minister of State…

The ongoing turmoil in Japan’s stock market coupled with geopolitical tensions erupting in multiple parts of the world is keeping the crypto sector low on profits. Bitcoin on Wednesday, August 7 reflected a loss of 3.25 percent to trade at $57,261 (roughly Rs. 48 lakh) on international exchanges like CoinMarketCap. Even on Indian exchanges, Bitcoin…

Sony Financial Holdings’ subsidiaries are independently exploring Web3 to connect with the next generation of consumers. In a recent move, Sony Bank introduced an NFT app called ‘Connect.’ This app allows customers to hold, trade, and collect digital collectibles, all through their phone. Users can display their NFT collections and interact with other community members….

The crypto market, after witnessing a slump recently, is jumping back to recovery as indicated by the crypto charts on Friday, August 9. Bitcoin managed to garner a profit of 7.63 percent on international exchanges over the last day. With this, the price of BTC on CoinMarketCap has come to $61,285 (roughly Rs. 51.4 lakh)….

A US court has ordered bankrupt cryptocurrency exchange FTX to pay $12.7 billion (roughly Rs. 1,06,572 crore) in relief to its customers, the Commodity Futures Trading Commission (CFTC) said on Thursday. FTX drew customers in with “an illusion that it was a safe and secure place to access crypto markets,” then misappropriated their customer deposits to…

Binance has revealed in an announcement that it has recovered $73 million (approximately Rs. 612 crore) stolen by hackers and scammers from the global crypto sector as of July 31, 2024. The world’s largest cryptocurrency exchange, in a statement shared with Gadgets360, highlighted blockchain technology as a powerful tool in gathering evidence against cybercriminals. Binance…

Indian crypto exchange Giottus announced its upcoming Web3 hackathon in India named ‘Block Bash’ on Thursday, August 8. The exchange has teamed up with Crewsphere, a homegrown layer-1 blockchain focused on decentralising the modern Internet. The hackathon aims to tap into India’s Web3 talent, showcasing the country’s skilled developers who have the potential to drive…

WazirX, the Indian crypto exchange that recently faced a significant hack, resulting in the loss of nearly half of its reserves, has requested its users to allow a few more days for balance restoration. In its latest update, the Mumbai-based exchange provided further details on its recovery plan. WazirX will restore user portfolios based on…

Indian crypto exchange CoinDCX announced the launch of a crypto investor protection fund (CIPF) worth Rs. 50 crores on Wednesday, August 7. This decision from CoinDCX comes after WazirX users were left to bear losses in the aftermath of a hack that drained one of its wallets off over $230 million (roughly Rs. 1,900 crore)….

Binance is currently staring at a GST payment of Rs. 772 crore in India. In an official statement shared with Gadgets360, the crypto exchange once again repeated its intentions of striving to comply with Indian laws after this fresh run-in with the country’s Directorate General of GST Intelligence (DGGI). Earlier this year, the exchange was…

Binance, touted as the largest crypto exchange in the world, has been issued a notice in India, demanding a Goods and Services Tax (GST) payment of Rs. 772 crore (roughly $92 million). The Ahmedabad zonal unit of India’s Directorate General of GST Intelligence (DGGI) is the authority that has issued this notice to the multi-national…

The WazirX hacker, who stole over $230 million (roughly Rs. 1,900 crore) from a multi-signature wallet, managed to access the digital signatures required to process the transaction to facilitate the hack attack. But what are these digital signatures? Unlike the text scribble we generally identify a signature to be, digital signatures are virtual signing algorithms….

From US’ presidential tussle between Donald Trump and Kamala Harris to Japan’s stock market crash – several macro-economic factors have been impacting the prices of crypto assets. Bitcoin on Monday, August 5, reflected a price drop of 10.98 percent on international exchanges that brought its trading value to $54,073 (roughly Rs. 45 lakh). On Indian…

GooglePay, Walmart-backed PhonePe and AmazonPay are among five payment firms seeking to join the Indian central bank’s digital currency pilot by offering transactions via the eRupee, three sources directly involved in the discussions said. Indian fintech firms Cred and Mobikwik are the other two that have applied to join the eRupee pilot, the sources added….

Bitcoin has been trading sideways for days, with the value of the popular cryptocurrency remaining under the $70,000 (roughly Rs. 58.4 lakh) mark. On Thursday, the value of the world’s most widely used digital asset grew by 0.66 percent. On international exchanges like CoinMarketCap and Coinbase, Bitcoin is currently trading at $68,105 (roughly Rs. 56.8…

The crypto sector, which is currently valued at around $2.46 trillion, is beginning to garner interest from profitable institutional investors. In its latest report titled ‘The State of Crypto’, Coinbase states that 56 percent of the Fortune 500 companies are in some way or the other, testing the blockchain technology. Making for the underlaying technology…

Crypto scammers seem to be on an expansion drive now that the digital assets sector is logging growth in several regions around the world. Yi He, the co-founder of Binance called out Elon Musk over the weekend to take measures to ensure that the spread of fake crypto-related news on X is dealt with proactively….

The recent hack of a WazirX wallet under Liminal Custody’s oversight has resulted in a loss of over $230 million, significantly impacting India’s crypto activities. In a statement to Gadgets360, Liminal denied WazirX’s allegations that the breach was due to a failure in Liminal’s screening system. Over the weekend, Liminal stated that its forensic investigation…

On Monday, July 29, Bitcoin reflected a profit of 3.16 percent to trade at the price point of $69,535 (roughly Rs. 58 lakh) on international exchanges like CoinMarketCap. On national exchanges like CoinSwitch, meanwhile, Bitcoin recorded a profit of over three percent to trade at the price point of $72,680 (roughly Rs. 60 lakh). The…

Bitcoin, that was trading at $69,535 (roughly Rs. 58 lakh) at the start of this week, has dropped notably. The asset incurred a loss of over two percent in the last 24 hours on international exchanges like CoinMarketCap. With this, the price of BTC has fallen to $65,625.38 (roughly RS. 54.9 lakh) on global exchanges….

Dubai-based ByBit crypto exchange has announced the integration of the eRupee CBDC with its peer-to-peer (P2P) transaction service. In an official statement, the exchange said it has received multiple requests from Indian merchants urging support for eRupee transactions. Since the eRupee is India’s RBI-issued digital currency, the merchants dealing in INR believe that processing digital…

Coinbase, the US-based cryptocurrency exchange, has added three new members to its board of directors, including an executive from ChatGPT-maker OpenAI, as the company steps up its efforts to sway US crypto policy, Coinbase told Reuters on Thursday. The new members are Chris Lehane, a member of the executive team at OpenAI; Paul Clement, former…

The debate on alternate methods of storing crypto assets has heated up in India after the recent breach of a WazirX wallet that led to the theft of over $230 million (roughly Rs. 1,900 crore) of crypto assets. The compromised multi-sig wallet was placed under Liminal Custody’s supervision by WazirX, but hackers reportedly succeeded in…

BlackRock, renowned as the world’s largest asset management firm, has issued a warning about crypto scammers impersonating its company officials. This comes amid a wave of recent hacks targeting various crypto projects, including LiFi, WazirX, dYdX, Fractal ID, and MonoSwap, putting the industry on high alert globally. BlackRock reportedly held custody of assets worth $10.5…

WazirX has been trying to resume services on its platform as it continues to investigate the recent hack of one of its wallets under Liminal Custody’s oversight leading to a loss of $230 million (roughly Rs. 1,900 crore). Over the weekend, the exchange published details on a ‘socialised loss strategy’ that it has hatched to…

The Reserve Bank of India (RBI) released its latest report detailing the development and roadmap ahead for the digital finance industry. Among several innovations that the RBI praised in this report, the mention of the eRupee central bank digital currency (CBDC) did not go unnoticed. Built like crypto but regulated by the RBI, India’s eRupee…

Bitcoin became the beneficiary of the ongoing political drama unfolding in the US. After current US President Joe Biden dropped out of the upcoming Presidential race against Donald Trump over the weekend, Bitcoin surged to the price point of $68,007 (roughly Rs. 56.8 lakh) on international exchanges. This is the asset’s highest pricing in the…

The chaos in India’s crypto ecosystem following one of WazirX’s wallet breach is nowhere near an end for now. Over the weekend, the Indian crypto exchange hatched a bounty programme worth $23 million, hoping to recover the stolen funds worth over $230 million (roughly Rs. 1,924 crore) either from third parties, or from the hacker…

WazirX, that recently launched a bounty initiative worth $23 million (roughly Rs. 192 crore), is hoping to get its stolen funds of over $230 million (roughly Rs. 1,924 crore) traced through third party coders and hackers. The exchange, in an update shared on X, noted that it received 80 intents for its bounty initiative within…

Several cryptocurrencies saw their prices rise on the crypto price chart on Friday, including the world’s most widely used digital assets — Bitcoin and Ether. Bitcoin price rose by 4.33 percent over the last 24 hours to trade at $66,945 (roughly Rs. 56 lakh) on international exchanges like CoinMarketCap. The value of BTC on Indian…

Indian crypto exchange WazirX, for the past week, has been invested in probing a hack that drained one of its multi-signature wallets off over $230 million (roughly Rs. 1,924 crore). In its latest update to the community, WazirX has claimed that its own signers’ machines were not compromised in this attack, as shown by its…

Cardano, the decentralised and eco-friendly blockchain, is getting closer towards its milestone upgrade called ‘Chang’. This upgrade will add the element of ‘decentralised governance’ to the Cardano blockchain. Since being launched in 2017, Cardano has been aiming at becoming the most preferred development platform for decentralised applications (dApps). Its native cryptocurrency, ADA, presently holds the…

Ferrari will allow customers in Europe to make payments for car purchases through cryptocurrencies. In an official statement released on Friday, the Italian luxury carmaker noted that the needs of its clients have evolved over time, and that people are opting for newer payment technologies that suit their convenience. According to Ferrari, most of its…

The government reportedly plans to release a discussion paper before September, outlining its stance on crypto-related policies in the country, and crypto stakeholders — including the Bharat Web3 Association (BWA) — have already expressed their readiness to take part in the process. The paper is expected to pave the way for regulation of cryptocurrencies in…

The crypto market is undergoing heavy volatility in the backdrop of macroeconomic factors, market changes, and political turmoil. On Wednesday, Bitcoin price fell by 1.93 percent on international exchanges, to trade at $65,866 (roughly Rs. 55.1 lakh), as per CoinMarketCap data. In India, Bitcoin recorded a slightly higher loss of over two percent on local…

WazirX was recently breached, and the ensuing loss of funds from a wallet held by the crypto exchange has had a heavy impact on the crypto sector in India. The beleaguered crypto exchange says that it has attempted to identify and recover the stolen funds worth over $230 million (roughly Rs. 1,924 crore) in the…

The first U.S. exchange-traded funds (ETFs) tied to the price of ether, the world’s second-largest cryptocurrency after bitcoin, are due to begin trading on Tuesday, in another watershed event for the crypto industry’s push to go mainstream.  Ether ETFs from VanEck, Franklin Templeton, Fidelity, 21Shares and Invesco will begin trading on Cboe, the exchange said…

Finance Minister Nirmala Sitharaman presented the Union Budget for 2024-25 on Tuesday, with a slew of reforms for various sectors. The Budget did not mention cryptocurrencies or blockchain technology, two areas that are currently are unregulated in India. The Web3 sector in India has been urging the government to reduce the one percent tax deducted…

Asia’s first inverse Bitcoin exchange-traded fund that allows investors to bet on a fall in the cryptocurrency, is set to debut in Hong Kong on Tuesday. Hong Kong’s CSOP Asset Management said it will launch the CSOP Bitcoin Futures Daily (-1x) Inverse Product on the city’s stock exchange on Tuesday morning. The ETF is expected…

South Korea has implemented its much talked-about “Virtual Asset User Protection Act” that defines the dos and don’ts for crypto firms, that wish to offer their services in the nation. This legal framework is aimed at controlling and eventually curbing the exploit of crypto assets for illicit activities like money laundering and terror financing. The…

The Indian government is set to present the union budget for the fiscal year of 2024-2025 on July 23. Ahead of the upcoming budget announcement, Federation of Indian Chambers of Commerce and Industry (FICCI), India’s non-government trade and commerce body, has extended a proposal to create a blockchain portal that will unify all trading operations…

Bitcoin price in India and global markets continues to rise, raising the value of the world’s most valuable and widely used digital asset. As a result, Bitcoin, which was trading at $59,304 (roughly Rs. 49.5 lakh) as of July 7, has risen to $65,965 (roughly Rs. 55 lakh) on international exchanges after a 10-day period….

WazirX crypto exchange confirmed Thursday that one of its multi-signature wallets had suffered a security breach. The Indian exchange was first informed about a possible breach by security firm Cyvers Alerts through a post on X. Cyvers, in its post, noted that a sum of $234.9 million (roughly Rs. 1,965 crore) was suspiciously moved from…

The crypto market recorded a minor slip in terms of pricing over the last 24 hours. While most cryptocurrencies recorded price fluctuations on international exchanges on Friday, July 19, Indian exchanges showed notable price declines following the security breach of one of WazirX’s multi-signature wallets. Bitcoin, for instance, is trading at $64,056 (roughly Rs. 53.5…

WazirX was impacted in a data breach on Thursday, as the company lost funds worth $230 million (roughly Rs. 1,924 crore) to hackers. Over the past 24 hours, analysts and crypto industry executives have identified reasons to believe that this sophisticated breach could have been initiated by North Korean hackers, possibly linked to the infamous…

The crypto sector in India is comprised of both national and international exchanges, offering hundreds of cryptocurrencies for investors, similar to trading on the stock market. This week, Mumbai-based WazirX, a widely used crypto exchange in India, fell prey to cybercriminals who managed to steal over $230 million (roughly Rs. 1,924 crore) from its reserves….

Centralised exchanges around the world are witnessing an ongoing decline in crypto trading volumes in the last three months. As per information shared by data provider CCData, June saw a monthly decline of 21.8 percent in trading volumes of digital assets. Several macro-economic factors, including the recent slump in Bitcoin’s price, launch of ETFs, and…

Indian crypto exchange WazirX informed its users about a security breach on Thursday, that reportedly led to suspicious movement of funds worth $234.9 million (roughly Rs. 1,965 crore) into a Tornado Cash-linked wallet. Many crypto investors in India have expressed apprehension about the potential loss of user funds. WazirX’s rivals in India, including CoinDCX, Giottus,…

Scammers targeting the crypto sector are getting more creative, as adoption continues to increase. Regulators from the US have issued a warning against an emerging category of crypto scams targeted at crypto investors, where scammers pose as professors or academicians. Social networking platforms including Facebook, WhatsApp, and Telegram are being exploited by cyber miscreants to…

Global interest in blockchain technology has grown significantly in recent years, and India is no exception to this trend. Among the latest developments within the Web3 ecosystem, “AppChains” have captured the attention of developers. These ‘application-specific blockchains’ represent a crucial stage in the ongoing development of blockchain technology and could help shape the sector as…

Bitcoin saw a strong recovery on Monday, after the currency hit a slump in market momentum last week owing to macro-economic conditions that imposed selling pressure on investors. At present, Bitcoin is trading at $62,796 (roughly Rs. 52.4 lakh) after seeing a price rise of 4.82 percent over the last 24 hours. The asset is…

Crypto payments are still not as popular as other Web3 services because of the volatility of crypto assets as well as the dearth of services that allow and accept settlements in cryptocurrencies. Card payments giant Visa is exploring the sector of crypto payments on a global level, coming up with different means to facilitate crypto…

The crypto sector in India has once again criticised the lack of regulation related to cryptocurrencies in India. The industry has urged the Reserve Bank of India (RBI) to define the relations between crypto firms and traditional banks, as the latter have shown no inclination to engage with them in the absence of rules and…

Crypto exchanges and blockchain firms have launched a special initiative called the Blockchain Security Standards Council (BSSC) in order to open discussions around the security provisions related to blockchain technology. Kraken, Coinbase, Ribbit Capital, and Sentinel Global are some of the crypto firms that have formed the BSSC. The security of blockchain-based systems has taken…

The crypto sector, after seeing a massive upswing in March this year, has found itself rather stagnated for over a month now. In light of the current volatile market conditions, one of Dogecoin’s developers who goes by the name of Mishaboar has sounded an alert to the crypto community. He has released a warning asking…

The authorities in Malaysia are said to be cracking down on crypto tax evaders. As part of a special investigation codenamed ‘Ops Token’, officials from the Malaysian federal agency Inland Revenue Board (IRB) reportedly conducted raids at multiple locations having identified firms that were not reporting their crypto-related engagements. Through these taxes, the Malaysian administration…

The price of Bitcoin failed to record any notable changes over the weekend. At the time of writing, the most expensive asset on the crypto chart was trading at $63,200 (roughly Rs. 52.8 lakh) on foreign exchanges such as CoinMarketCap, after seeing a drop of 0.26 percent. On Indian exchanges meanwhile, the value of BTC…

Bitcoin on Monday, July 1 showed price hikes on foreign as well as local exchanges. As per CoinMarketCap, the most expensive crypto asset grew by 4.26 percent over the last day to trade at the price point of $63,373 (roughly Rs. 52.8 lakh) on international exchanges. Internationally, BTC was trading at $61,637 (roughly Rs. 51.4…

The Worldcoin Foundation on Monday launched a developer preview of its upcoming World Chain project, allowing developers to try its upcoming blockchain mainnet. Sam Altman’s controversial Worldcoin project continues to grow steadily, despite facing regulatory challenges in multiple parts of the world. Sam Altman’s controversial Worldcoin project continues to grow steadily, despite facing regulatory challenges…

Blockchain, the underlying technology supporting cryptocurrencies and other Web3 ecosystems, has been garnering interest from Indian government bodies for some time. Recently, Bihar has become the latest state to explore the potential applications of blockchain in India. The Bihar State Electronics Development Corporation (BSEDC) has announced plans to implement a blockchain system designed to enhance…

The Bharat Web3 Association (BWA) met with industry stakeholders in New Delhi on July 11, ahead of the upcoming budget announcement for FY2024-2025. During the meeting, Dilip Chenoy, the chairperson of this Web3 advisory body, said that the industry is ready to be patient and give the government enough time to access the results of…

The crypto sector is undergoing a regulatory revamp in several parts of the world, aiming to make the industry safer for its members. Countries that have initiated these frameworks are seeing a spike in the number of Web3 startups, bringing business and opportunities to their citizens. A recent report by blockchain startup accelerator Alliance has…

The crypto market is undergoing a period of price correction because of multiple macro-economic factors that are bringing volatility in the market. On Wednesday, July 10, Bitcoin showed a gain of over two percent, taking its value to $59,304 (roughly Rs. 49.5 lakh) on international exchanges like CoinMarketCap. On Indian exchanges, meanwhile, BTC managed to…

The European Union (EU) is adding more layers to its crypto-related regulations to ensure that virtual digital assets (VDAs) are not misused by criminals to conduct or finance illicit activities. The European Banking Authority (EBA) has imposed a ‘travel rule’ on crypto firms that will require them to store details of transactions on their platforms,…

Dubai Customs has launched a new blockchain platform to optimise commercial operations within the region, which is increasingly being seen as a pro-technology market. In an attempt to deal with some of the roadblocks that hinder the entrepreneurial sector in Dubai, the customs department is exploring the use of blockchain technology to increase transparency and…

The Basel Committee of Banking Supervision (BCBS) released a new ‘disclosure framework’ directing banks to reflect their exposure to crypto assets as public records earlier this month. In conversation with Gadgets360, Indian fintech firms have said the Basel Committee’s decision to pass this law is progressive and driven towards bringing more transparency to the relationship…

Bitcoin price dropped to $55,160 (roughly Rs. 46 lakh) on international exchanges like CoinMarketCap on Monday, months after it hit an all-time high of $73,750 (roughly Rs. 61.5 lakh). On foreign exchanges, BTC slipped by 4.09 percent in its price in the last 24 hours, while on Indian exchanges like BuyUCoin, CoinDCX and WazirX, the…

Valora, a peer-to-peer payments platform is the latest firm that is attempting to foray into the Web3-focused class of smartphones. As the trend of fusing smartphone apps with Web3 technology appears to be on the rise, the US-based firm has announced a new service called ‘Mobile Stack’, that will act as a launchpad for Web3…

Over 20 cryptocurrency hacking attacks led to a loss of $176 million (roughly Rs. XXX) in the month of June 2024, according to an analytics firm. This year, the crypto market saw some signs of revival after the US SEC approved BTC and ETH ETFs in January. In the subsequent months, the crypto sector valuation…

The crypto sector doesn’t seem to be getting any respite, with most cryptocurrencies consistently showing losses on the price charts. Bitcoin showed a price decline of around 1.37 percent on Wednesday, July 3. On foreign exchanges like CoinMarketCap, BTC is trading at $60,827 (roughly Rs. 50.7 lakh) — down by $810 (roughly Rs. 67,638) from…

Meta has listed fresh job openings for its metaverse unit at its headquarters in California, after recent layoffs at its Reality Labs unit. The social networking giant is looking for professionals proficient in generative AI (GenAI), which suggests that that it could integrate the nascent technology with its metaverse-related efforts in the future. Under CEO…

South Korea is trying to rid its crypto sector off miscreants who are exploiting digital assets to facilitate illicit activities like money laundering. The country is conducting a crackdown on crypto activities that are coming across as suspicious or unusual on the crypto exchanges operating in the Asian nation. On Thursday, July 4, the Financial…

Bitcoin on Friday, July 5, recorded a drop of 8.15 percent over the last 24 hours. The value of Bitcoin presently stands at $54,300 (roughly Rs. 45.3 lakh) on international exchanges like CoinMarketCap. This records a drop of $6,527 from the price of $60,827 (roughly Rs. 50.7 lakh) that BTC was trading at, 48 hours…

The number of unique active crypto wallets surpassed t 10 million from April to June, according to a report by an NFT marketplace. The report outlines the performance of Web3 in the second quarter of this year. In Q2 2024, the user base of crypto wallets rose by 40 percent, compared to the March quarter….

The relationship between cryptocurrencies and centralised banking systems is currently at a nascent stage, with a lack of integration between their operations. In order to change the status quo, the Basel Committee of Banking Supervision (BCBS), which sets global banking standards, has taken an important step, approving a new ‘disclosure framework’ that will detail how…

Threads has crossed the 175 million user mark, a year after the platform was launched as an alternative to X (formerly known as Twitter). The microblogging service owned by Meta was launched on July 6 last year. Meta CEO Mark Zuckerberg also revealed that India has emerged as one of its most active markets. In…

CoinDCX on Wednesday announced that it has acquired BitOasis, a UAE-based crypto trading platform. With this acquisition, CoinDCX claims it has taken its first step in expanding its crypto business in the Middle East and North Africa (MENA) region. CoinDCX first engaged with BitOasis last year when it invested an undisclosed amount of funding in…

Bitget has confirmed that it is working with India’s Financial Intelligence Unit (FIU) to become a registered crypto firm in the country. In a press release issued on Wednesday, Bitget called India a ‘key market’ and said that the country’s crypto market has shown significant growth in recent times. Founded in 2018, Bitget is registered…

The market for non-fungible tokens (NFTs) is witnessing a significant downturn in sales around the world. The most recent data by Cryptoslam showed that the average sale prices of NFTs have slipped by nearly 60 percent between March and June this year. The average price of an NFT around March was $193 (roughly Rs. 16,100),…

Mudrex, a crypto investment platform headquartered in Bengaluru, has entered into a partnership with crypto tax computing platform, KoinX. As part of the agreement between both firms, Mudrex users in India will be able to file their crypto taxes in time, before the upcoming deadline. In India, customers must pay taxes on cryptocurrency transactions, including…

Japanese tech giant Sony is gearing up to run a crypto exchange business through WhaleFin, which it acquired in 2023. With this, Sony will have found itself testing rougher waters in the Web3 domain, that is not only laden with financial risks but also with regulatory scrutiny around the world. Sony plans to restart the…

European Union’s crypto-focussed MiCA legislation, created to govern the crypto sector, went live on June 30 almost one year after being finalised in April 2023. The aim of this legislation is to ensure that investors engaging with the crypto sector across the EU region are safeguarded against the factors of financial risks and instability that…

Cryptocurrencies have made their mark on the fintech sector in several nations but have met with regulatory challenges because of the associated risks and volatile nature of the crypto market. Hong Kong is the latest to join the list of Asian regions that are accelerating efforts to establish a regulatory framework to oversee the crypto…

India’s eRupee CBDC, that is presently in its advanced trial period, is reportedly facing decline in terms of its usage. Citing sources familiar with the matter, a Reuters report has claimed that CBDC transactions that had hit the mark of one million transactions per day in December 2023, has dropped to just around 100,000 daily…

Delta, a crypto exchange with global headquarters in Kingstown, Saint Vincent, announced the launch of its India subsidiary on Thursday, June 27. The move comes at a time when the Indian government seems to be warming up to cryptocurrencies as it begins deploying rules to oversee the safety of the otherwise volatile digital assets sector….

Bitcoin opened with a minor price loss on Friday, and the world’s most widely used crypto asset is presently trading at $61,637 (roughly Rs. 51.4 lakh) on international exchanges like CoinMarketCap, after incurring a loss of 0.23 percent. On national exchanges such as WazirX and CoinSwitch however, the value of BTC stood much higher at…

The central bank of Bolivia has decided to lift a ban on payments using Bitcoin and other cryptocurrencies imposed in 2014. The country is aiming to balance its economy, while modernising its payment systems. Bolivia has become the latest Latin American country to take a pro-crypto stance, even though Bitcoin or other cryptocurrencies are yet…

The Reserve Bank of India (RBI) has published its latest Financial Stability Report (FSR) that outlines important events that have recently taken place in the national and international banking and fintech sector. The domain of decentralised finance (DeFi) earned a brief mention in RBI’s report wherein the central bank, discussed the focus of global bodies…

Binance has decided to add more layers of security over the management of accounts on its platform. The exchange’s decision comes after internal analyses showed that some of its features and services were being exploited to fetch unfair advantages, such as a better fee rate and higher API limits. Binance has planned to incorporate several…

Elon Musk has previously expressed support for cryptocurrencies publicly, but the billionaire was recently impersonated by cybercriminals who hacked an Australian broadcaster in an attempt to target gullible investors. Over the last few years, Musk has shaken up the crypto market via posts on X (formerly Twitter). Now, his popularity is being used by criminals…

CoinDCX crypto exchange announced Tuesday, June 25, that it was launching a new Web3 mode within its existing app. Through this new service, the exchange will expose users to over 50,000 decentralised tokens that have not yet been listed on centralised exchanges. The transactions related to the trade and purchase of these DEX tokens will…

The cryptocurrency market is displaying volatility across most cryptocurrencies on Wednesday, June 26. Bitcoin recorded a minor drop of 0.29 percent that dragged down its price from $63,200 (roughly Rs. 52.8 lakh) to the mark of $61,752 (roughly Rs. 51.5 lakh) on foreign exchanges like CoinMarketCap. On national exchanges, meanwhile, the value of Bitcoin stands…

Louisiana has become the latest US state to support cryptocurrency mining, as more regions in the country are warming up to digital assets. A newly signed bill is expected to protect the rights of crypto mining individuals and businesses, who can continue to operate in the state as long as they are in compliance with…

CoralApp, an AI-focussed project backed by Binance, is gearing up to enter the hypercompetitive smartphone market in the coming days. The company has conceptualised a smartphone, dubbed the Coral Phone, packed with Web3 and AI capabilities. While the device will support traditional smartphone functions and apps, it will also be able to work seamlessly with…

The Web3 sector is generally considered to have a high exposure to cyber-attacks and hacks, but Telegram-backed The Open Network (TON) blockchain has particularly found itself in trouble. As per blockchain security firm SlowMist, the TON blockchain faces a high risk of phishing attacks. The entire TON ecosystem is currently under threat, which could negatively…

The CoinStats crypto portfolio app has decided to temporary pause all user activity after it become the latest victim of a security breach over the weekend. Cyber criminals behind the hack lured CoinStats users to click malicious links, falsely promising users of a reward worth 14.2 ETH or $48,128 (roughly Rs. 40.2 lakh). A total…

The crypto exchanges operating in South Korea are said to be gearing up for an internal audit. As part of this process, over 600 cryptocurrencies will reportedly be re-examined to see whether they meet the regulatory standards laid out by Seoul. The aim is to protect South Korea’s investor community as well as its financial…

The crypto industry, currently valued at $2.36 trillion, is attracting entrepreneurs eager to experiment, especially with the emergence of Web3. Coinbase International has decided to step up as a foster for up-and-coming Web3 projects. The exchange, counted among the largest in the world, has announced the launch of its Pre-launch Market initiative. This will serve…

Giottus, a crypto exchange based in India, has bumped up the number of cryptocurrencies listed on its platform for trading. Cryptocurrencies related to decentralised finance (DeFi) protocols, real world assets (RWA), Artificial Intelligence (AI), and memecoins have made it to Giottus’ refreshed list. The exchange claims that it caters to over one million users and…

Ahead of India’s final budget announcement for FY2024-2025, a policy paper has outlined the reasons why the government should consider revising the crypto tax laws in the country. The report has collectively been compiled by the Centre for Tax Laws, Hyderabad-based NALSAR University of Law, and some individual members of the crypto community in India….

Bitcoin price fell by 1.22 percent over the last 24 hours, while the values of several other cryptocurrencies also took a hit on Thursday. As a result, the price of Bitcoin has dropped to $65,255 (roughly Rs. 54.4 lakh) on international exchanges and to $70,540 (roughly Rs. 58.8 lakh) on national exchanges. Market analysts believe…

Meta is attempting to enhance and streamline its operations in the Web3 and wearables markets. The company has reportedly divided its Reality Labs team into two separate entities where one team will work on the metaverse-focussed Quest headsets and the other will dedicate its time to hardware wearables that Meta may launch in the future….

Sam Altman’s controversial Worldcoin project is no longer under investigation in Kenya. An official notice issued by the Directorate of Criminal Investigations (DCI) in Kenya has claimed that an array of allegations related to Worldcoin’s user data collection were ‘expeditiously and objectively’ investigated. The file of this case has now been shut with the police…

India’s Financial Intelligence Unit (FIU) has imposed a fine of $2.25 million (roughly Rs. 18.8 crore) on Binance. The financial watchdog announced the development on Thursday, June 20. India has claimed that the crypto exchange, touted as the largest in the world, was not adhering to the Prevention of Money Laundering Act, 2002 (PMLA), which…

Central Bank Digital Currencies, or CBDCs, are picking up the pace in several nations around the world, and Iran is one of them. In the coming days, the country will gradually be deploying its ‘digital rial’ virtual currency into a public pilot phase. The Central Bank of Iran (CBI) is spearheading the trial phase for…

The crypto market seems to be on upswing price-wise, with majority cryptocurrencies reflecting profits on Wednesday, June 19. Bitcoin recorded a small gain of 0.35 percent to trade at the price point of $65,573 (roughly Rs. 54.6 lakh), as per CoinMarketCap. This is the first time in weeks that Bitcoin has managed to reach and…

The crypto market maintained its lacklustre trajectory for the third week of June with cryptocurrencies showing mixed prices stepping into the next week. Bitcoin on Monday, June 17 recorded a minor gain of 0.32 percent as per CoinMarketCap. With this, the price of this asset on international exchanges stands at $66,426 (roughly Rs. 55.4 lakh)….

MiCA — or Markets in Crypto Assets — technical standards have been published by the European Banking Authority (EBA) on Thursday. Ahead of the upcoming July deadline, the EBA has published a detailed set of guidelines around technical standards that Web3 firms operating in the region will soon be mandated to adhere to. The aim…

India’s independent Web3 advisory body, the Bharat Web3 Association (BWA), has prepared a message for Nirmala Sitharaman, who returned as the nation’s finance minister for a second term this month. In its message shared with Gadgets360, the BWA said India needs a level playing ground for Web3 startups and businesses to thrive in. At present,…

Solana Labs has unveiled a blockchain-powered verification platform for brands that offer loyalty programmes. The company behind the popular Solana blockchain has launched ‘Bond’, which is a customer engagement platform that is claimed to be helpful to companies that wish to improve the longevity and security of their customer loyalty initiatives. Bond uses blockchain to…

Binance, one of the largest crypto exchanges in the world, recently sent over a team of officials to meet with law enforcement officers in Macau. The aim of this meeting was to train officers in understanding loopholes in Web3 technologies that could help them catch criminals. With the expansion of the crypto sector into the…

Crypto trading has become an addictive habit among the younger population of the UK, according to National Health Service (NHS) Chief Executive Amanda Pritchard, who has sounded the alarm on the rising cases of crypto trading addiction. Pritchard has called for intervention from the UK lawmakers, flagging the risks associated with cryptocurrency trading addiction. In…

South Korea is ramping up efforts to formulate rules to oversee the virtual digital assets sector, with the Financial Services Commission (FSC) spearheading the task of drafting these laws. Seoul’s new guidelines will result in regulators classify bulk or large scale non-fungible tokens (NFTs) as regular cryptocurrencies, under the Virtual Asset User Protection Act. South…

Itau Unibanco, touted as the largest bank in Brazil, has decided to open crypto trading services for its massive userbase of over 60 million. This step from Itau Unibanco comes after the bank tried offering this functionality to a small bunch of select users to check if users were interested in accessing this service at…

The United States Federal Trade Commission (FTC) has identified a rise in romance scams targeting the crypto community in the US. The FTC has clearly asked people to cut off from online love interests who may be discussing investment ideas, especially related to cryptocurrencies and other digital assets, with them. The regulatory trade body has…

The crypto market is undergoing a phase of volatility, with most altcoins undergoing price correction. Bitcoin on Tuesday, June 11 recorded a loss of up to 1.95 percent on both, national as well as international exchanges. On Indian exchanges like CoinSwitch and WazirX, Bitcoin is hovering around the price point of $72,653 (roughly Rs. 60.6…

India, the largest democracy in the world, is currently undergoing its general election process to choose its leaders for the next four years. Before the chosen leaders take the reins of India’s growth within their commands, the Bharat Web3 Association (BWA) has listed some immediate steps that the upcoming government could consider in order to…

Crypto startups are putting valuations in the fast lane with an aggressive form of fundraising that reflects the digital-asset industry’s recovery as well as a desire among venture funds to put money to work. This approach involves an open-ended, rolling fundraise that keeps the cash coming in and quickly lifts valuations, a contrast to the…

The senior leadership at Vodafone is looking to integrate the blockchain technology with its operations. The concept of crypto wallets has also grabbed the attention of the UK-headquartered telecom giant in recent times. David Palmer, the lead of Blockchain initiatives at Vodafone spoke about some company plans during a recent interview with Yahoo Finance. Palmer…

Bitcoin, the oldest and most expensive cryptocurrency in existence, has completed its first billion transactions this week. The asset, created in 2009, has taken fifteen years to hit one billion transactions. The crypto community is elated and flooding the social networking platforms with messages congratulating each other for BTC’s milestone moment. In the backdrop of…

The timing for when exchange-traded funds (ETFs) tied to the cryptocurrency ether can begin trading depends largely on how quickly issuers respond to the U.S. Securities and Exchange Commission’s queries, Chair Gary Gensler said on Wednesday. The SEC last month approved applications from Nasdaq, CBOE and NYSE to list spot ether ETFs. It was a…

Casa, a Bitcoin custodian firm based in the US, operates a separate and parallel version of the Bitcoin blockchain called the TBTC testnet. This technology supports tBTC tokens, which have no financial value linked to them but come in handy for conducting tests around new protocols that could be supported on the Bitcoin blockchain. In…

The crypto mining industry often finds itself under the scanner for being power-intensive and releasing greenhouse gasses into the environment. In a recent development, the South American nation of Venezuela has announced a ban on crypto mining. The massive load of electricity that is used for the mining several cryptocurrencies left the Venezuelan government concerned,…

Brazil, after implementing some rules to govern cryptocurrencies back in 2022, is gearing up to unveil a more detailed regulatory framework to oversee the crypto sector. In a recent development, the Central Bank of Brazil has claimed that it would be bringing in a comprehensive set of rules to its Web3 community towards the final…

Bitcoin on Monday, May 27 saw a minor gain of around one percent. At the time of writing BTC was trading at the price point of $72,034 (roughly Rs. 59.8 lakh) on Indian exchanges like WazirX. Internationally however, Bitcoin is trading at a slightly lower price point of $68,772 (roughly Rs. 57 lakh). As per…

The US SEC approved eight exchange traded funds (ETFs) for Ether this month. Through ETFs, investors can engage with Ether trading via traditional stock markets – rather than having to use a crypto exchange ecosystem. Interested members of the investor community will be able to check out ETH ETF listings on Nasdaq, CBOE, and the…

The Worldcoin project, led by OpenAI’s Sam Altman, has announced that it will introduce more Orbs for verifications soon. The announcement comes days after the project was barred from operating in Hong Kong. Despite the threat of being banned in multiple parts of the world, Worldcoin has shown no signs of halting. Developed by the…

Argentinean officials are in dialogue with their counterparts from El Salvador to gain a deeper understanding on strategies and experiences in adopting Bitcoin. Last week, senior leadership of the Argentinian National Securities Commission (CNV) met with El Salvador’s National Digital Assets Commission (CNAD) to assess the impact of adopting Bitcoin on the economy over the…

Hong Kong’s Securities and Futures Commission (SFC) will soon inspect crypto firms in the region ahead of a deadline to obtain licences to operate in the region. The regulator has been shifting its focus to strengthen compliance criteria for crypto firms in order to safeguard the sector against exploitation and financial crimes. The aim is…

Mastercard is exploring ways to simplify crypto transactions, which could lead to the mass adoption of these digital assets for day-to-day businesses. The US-based cards payments giant has introduced a new initiative to assess the use of its Crypto Credential programme. The aim of this programme is to ensure that people do not send crypto…

Bitcoin price on Friday rose by 0.69 percent, bringing the value of the world’s most widely used cryptocurrency to $68,600 (roughly Rs. 57 lakh) on international exchanges like CoinMarketCap. On national exchanges like WazirX and CoinDCX, the digital asset is trading at a slightly higher price of $71,930 (roughly Rs. 59.8 lakh). Bitcoin has hovered…

The Reserve Bank of Indi’s (RBI) eRupee or central bank digital currency (CBDC) is currently in an advanced trial phase with multiple national banks assisting the RBI in rolling out the digital currency. The usage of eRupee in the retail sector reportedly increased over the past year, according to data from the RBI. On the…

Ocean Mining, a Bitcoin mining pool backed by Block head Jack Dorsey, has established its global headquarters in El Salvador. The country’s pro-crypto policies are what attracted this crypto mining pool to move there. Crypto mining operations are known to be very power intensive, which has led to several nations discouraging and even banning these…

Metaverse technology has seen increasing adoption across multiple industries over the past few years. A report by research firm InsightAce Analytica has detailed the impact that metaverse technology is projected to have on the global healthcare sector. One of the main improvements that the metaverse is expected to show in the healthcare sector will be…

The crypto sector, despite having seen notable expansion in several parts of the world, is still struggling to safeguard its community against cybercrimes. Coinbase and Kraken are among popular crypto firms that have joined a newly formed industry group that intends to figure out ways to combat the cyber threats looming over the sector. The…

Algorand is expanding its presence in India’s blockchain sector, one step at a time. This week, Algorand Foundation’s India-focussed initiative called AlgoBharat, announced an app developer programme to train Indian engineers in blockchain development. Nasscom, the country’s primary non-government tech trade body, has joined forces with Algorand to ramp up blockchain training. In fact, Algorand’s…

The overall crypto chart showed the market trading rather flat today. Bitcoin on Wednesday, May 29 reflected a small gain of 1.28 percent. With this, Bitcoin is currently trading at $68,768 (roughly Rs. 57.2 lakh) on foreign exchanges like CoinMarketCap. Meanwhile, on national exchanges like WazirX, CoinDCX, and CoinSwitch, Bitcoin is trading around the price…

Brazil has reportedly halted the pilot testing of Drex, its central bank digital currency (CBDC), The pilot of the country’s first CBDC will take place by 2025, as the Central Bank of Brazil has found blockchain privacy solutions to be insufficient, which could cause financial inconvenience to Brazilian nationals, according to a report that states…

Coinbase, one of the largest crypto exchanges in the world, has decided to launch an educational and awareness initiative for technology users from around the world. Named ‘Tech Against Scam’, this initiative aims to inform the tech community about ways to safeguard themselves against frauds and online deceit – in an attempt to making the…

The European Blockchain Observatory and Forum (EUBOF) has given a heads up to the European Union (EU) to get prepared to handle the upcoming era of decentralised AI networks. In a report addressed to the EU, the EUBOF said that the merging of blockchain and AI is surfacing as a trend in the tech industry…

The US House of Representatives, this week, greenlit a new bill that aims to regulate the crypto sector. While the FIT21 (Financial Innovation and Technology for the 21st Century Act) bill still awaits approval from the US Senate, stakeholders of India’s crypto and Web3 space have lauded the decision taken collectively by both US’ opposing…

India’s CoinSwitch crypto exchange published the third edition of its Proof of Reserve (PoR) on Thursday, May 23. The report claimed that the worth of total consumer holdings on CoinSwitch, including both cryptocurrencies and INR, stood at Rs. 2, 774.10 crore as of March 31, 2024. The exchange also disclosed that its total holdings now…

Mai Labs — a Web3 firm headquartered in the Cayman Islands — showcased its Mayaaverse metaverse platform in India earlier this week. The firm demonstrated the platform that digitally traces India’s journey through history. Mayaaverse allows visitors to explore ancient Indian cities (such as Hastinapur) to present-day temples, modern retail outlets, as well as photorealistic…

The OKX crypto exchange recently announced a partnership with Jambo, a Web3-enabled smartphone brand. Through this partnership, both the brands are looking to push the Web3-backed digital economy in smartphone-friendly emerging markets. While Web3 and smartphones – both of which make for individually recognised markets in themselves — their integration with each other is a…

The U.S. Securities and Exchange Commission (SEC) on Thursday approved applications from Nasdaq, CBOE and NYSE to list exchange-traded funds (ETFs) tied to the price of ether, potentially paving the way for the products to begin trading later this year. While the ETF issuers also have to get the green light before the products can…

The overall crypto chart reflected losses next to most cryptocurrencies on Friday, May 24. Bitcoin recorded a loss of around one percent on Friday to trade at the price point of $71,771 (roughly Rs. 59.7 lakh) on Indian exchanges like CoinSwitch. Meanwhile, BTC was trading at $67,589 (roughly Rs. 56.2 lakh) on international exchanges like…

Liminal Custody, that offers storage and wallet services for virtual assets, announced that its Indian entity ‘First Answer India Technologies Private Limited’ is now officially registered with India’s Financial Intelligence Unit (FIU). With this, the entity has become the latest Web3 firm to have joined this list alongside Binance, KuCoin, and WazirX – aiming at…

Lawmakers from the US have come together to vote in favour of a crypto bill, called the Financial Innovation and Technology for the 21st Century Act (FIT21). In a rather historic moment, 279 out of 136 members of US’ House of Representatives gave a green light to this bill on May 22. In the US,…

Betting big on the future of advanced human-computer relation, Grand Cayman -headquartered Web3 firm Mai Labs launched its metaverse platform called ‘Mayaaverse’ in India on Wednesday, May 22. The company, in a launch event hosted in Delhi, also unveiled the Lumyn XR, which is a virtual reality (VR) headset for users to explore the digital…

Bitcoin on Wednesday, May 22, logged a minor loss of 2.54 percent. The value of BTC on national and international exchanges at the time of writing, stood at $72,182 (roughly Rs 60 lakh) and $70,036 (roughly Rs. 58.3 lakh), respectively. The asset, despite seeing small losses, celebrates Bitcoin Pizza Day anniversary, the day that gave…

GameFi, another jargon from the Web3 sector, now seems to be grabbing the attention of members of the Web3 and gaming communities. The concept of GameFi brings together two elements – gaming and finance. Games that fall under this category are based on blockchains and work on a decentralised approach. They offer players rewards in…

The past few months have brought in price spikes for majority cryptocurrencies, bringing back investors’ interest into the sector. In its recent data, CoinShares showed that investment products backed by digital assets like NFTs and cryptocurrencies managed to garner $932 million (roughly Rs. 7,766 crore) in last week’s four-day period between May 13 and May…

The India Blockchain Alliance (IBA) calls itself a not-for-profit organisation, working on bringing together blockchain developers, firms, venture capitalists, and visionaries together in India. Founded in the year 2018, the body aims to further the research and development work around blockchain, also called the Distributed Ledger Technology (DLT), which makes for the base foundation for…

Bitcoin on Monday, May 20 showed up on the profit-making side of the crypto market reflecting an increase of 1.11 percent. While this profit seems small for now, BTC did manage to rise in value on both, national as well as international exchanges over the weekend. In India, BTC is trading around the price point…

The finance sector around the world, at this point, is exploring the blockchain technology that logs permanent transaction records and reduces the dependencies on centralised and easily hackable Web2 servers. Germany’s third largest state-owned bank, Kreditanstalt fuer Wiederaufbau (KfW) has decided to join the global list of lenders that are experimenting with blockchain. In the…

Dogeverse, the latest entrant into the memecoin market, has managed to raise $15 million in its Initial Coin Offering (ICO). According to a report from AMB Crypto, the new multi-chain memecoin reached the milestone Monday. The $DOGEVERSE token has taken the crypto market by storm and is set to be launched on six different blockchains….

ChainML, a Web3-enabled AI platform, has secured a notable investment, handing a boost to the Web3 funding environment. The Silicon Valley-based AI and ML development and research firm’s latest investment round, Led by Hack VC, fetched $6.2 million (roughly Rs. 51 crore). The platform aims to decentralise access to artificial intelligence (AI). The latest investment…

CoinDCX has released a report that attempts to highlight issues with India’s crypto tax policies, while seeking reforms from the government in order to improve compliance and tax transparency in the country. The FIU-registered crypto exchange is the latest of many firms that have attempted to appeal to the government to reduce the taxes on…