The Reserve Bank of India has maintained that any policy decision on the matter of cryptocurrencies lies within the purview of Central government.

Nasscom president Debjani Ghosh asked players to obey the law and seek clarification from the government if they are unhappy with it.

On Tuesday, a man who ran India's first bitcoin ATM was apprehended by the police in Bengaluru. The 37-year-old Unocoin Technologies co-founder, Harish BV, was arrested as the police said it was illegal since it was set up without approvals.

Zebpay, the largest cryptocurrency exchange in India, today announced the closure of its activities. The move comes five months after RBI banned banks from providing financial services to crypto exchanges.

The industry is excited about blockchain technology but understands that it will need a lot more p2P consensus to make it feasible.

The Supreme Court is currently hearing a case between virtual money exchanges and the RBI, and the next hearing on the matter is scheduled for September 17.

Chinese crypto-mining equipment makers plan to get listed in Hong Kong; major international airlines are beginning to pad their schedules with extra time to give the impression that the aircraft are arriving on time; diesel and petrol prices have hit new record high. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.

The SFIO arrested Bhushan Steel promoter Neeraj Singhal for allegedly siphoning off Rs 2,000 crore; Sensex closed above 38,000 for the first time ever on Thursday; and bitcoin and crypto-currency bashing continues unabated. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.

Centre has doubled import duty on 328 textile products to 20 per cent; public sector banks penalised their customers by over Rs 5,000 crore in fiscal 2017-18; and Jamie Dimon yet again denounced Bitcoin and cryptocurrencies. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.  

Railways has announced that vacancies for assistant loco pilots and technicians have been doubled to 60,000; Paul Krugman said that Bitcoin and other cryptocurrencies have set the monetary system back by 300 years; and the government is struggling to meet its monthly GST revenue target. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.

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Ever since the banks were stopped from providing financial services to digital exchanges, the trade of Bitcoin through Dabba trading has increased manifold, and the whole purpose of stopping the flow of illicit money seems to have been defeated.

Banga refers to the indictment of 12 Russian intelligence officers in the hacking of the DNC and for interfering in the US elections, saying the FBI had disclosed the Russian agents handled the most delicate transactions using Bitcoin.

Govt to withdraw FRDI Bill in current Parliament session; Air India disinvestment is not possible due to high oil prices and forex conditions, says Jayant Sinha and global cyrptocurrency valuation went up by over $20 billion as the world's most popular crypto Bitcoin saw its price surge from $6900 to $8000 within 30 minutes. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.

Back in April, the RBI instructed all entities it regulates to stop dealing with cryptocurrencies, like Bitcoin, in three months. This prevented investors from buying crypto currencies in exchange of rupee. The RBI ban came into effect from July 5.

The RBI had in April directed all the banks to stop dealing with individuals and businesses dealing in virtual currencies in next three months - the deadline ended on July 5.