The government is considering the blocking of internet protocol (IP) addresses of companies/exchanges on which trading in cryptocurrencies is happening, said a source in the know. Two months ago, the government had said it intended to bring a Bill to ban private cryptocurrencies and introduce India’s own digital currency in line with what China and other countries had done. The development is a part of the government’s plan to introduce a bill to ban private cryptocurrencies ...

The UN children’s agency, Unicef, has announced it is accepting and disbursing donations through cryptocurrencies ether and bitcoin. Unicef’s new Cryptocurrency Fund is the latest in a series of efforts by aid organisations to experiment with “blockchain” currencies, which have the potential to transform charitable giving and increase financial transparency. Cryptocurrencies are virtual currencies that can be cashed in for real money, and are not linked to any singl...

Reliance Jio is all set to install one of the largest Blockchain networks across the country in the next 12 months with tens of thousands of nodes operational on day one. Speaking at the 42nd Annual General Meeting (AGM) of Reliance Industries, Chairman Mukesh Ambani called upon on the security, trust, and automation, which Blockchain technology can bring. He said,  Using Blockchain, we can deliver unprecedented security, trust, automation, and efficiency to almost any type of transac...

The Government informed the Supreme Court that an expert panel has recommended complete ban on private cryptocurrencies in the country and the Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019, will be introduced in Parliament in the next session. The inter-ministerial committee, set up to look into the legality of cryptocurrencies, had last month recommended ban on private cryptocurrencies and asked the government to consider launching its own digital money. It...

In a likely blow to the government and the newly constituted board of Infrastructure Leasing & Financial Services (IL&FS), the Mumbai NCLT Bench rejected the plea of a three-month moratorium against any legal proceedings by any party against the stressed infrastructure financier and its 348 subsidiaries.  The government had sought moratorium seeking relief after 49 creditors, including bond holders, demanded payment under threat of legal proceedings. SIDBI has filed a petition ag...