The petitioner IAMAI argued that with a ban, cryptocurrency would be removed from the formal economy but would give rise to the same through black market transactions

Certainly, ARCs are specialised entities and in 2017, minimum net worth of ARCs was enhanced 50 times by the RBI from Rs 2 crore to Rs 100 crore to boost their capital base

The recent Indian inter-ministerial committee report (which went as far as to recommend an outright ban on crypto-asset activity) recognised that global standard-setting bodies would drive the way forward and that a standing committee in India should accordingly re-visit the issues in its report

The world's biggest cryptocurrency Bitcoin extended losing streak, slipping below the psychological $7,000 mark once again, wiping millions of dollars from the cryptocurrency market capitalization. The International Monetary Fund is set to join other downbeat analysts and cut the growth estimate for India \"significantly\", its India-born chief economist Gita Gopinath said. The Finance Ministry aims to bring in Rs 1.1 lakh crore as monthly GST collection for the next four months, sources said. The ministry wants one of these four months to have a GST mop-up of Rs 1.25 lakh crore. Pakistan Prime Minister Imran Khan said on Tuesday that millions of Muslims could flee India due to the curfew in the disputed territory of Kashmir and India's new citizenship law and more news on News Blast.

Crypto markets lose millions as Bitcoin slips below $7,000The world's biggest cryptocurrency Bitcoin extended losing streak on Tuesday, slipping below the psychological $7,000 mark once again, wiping millions of dollars from the cryptocurrency market capitalisation. The cryptocurrency has fallen more than 50 per cent from its 2019 high of $13,879.21 touched in June.IMF economist Gita Gopinath hints India's dream to achieve $5 trillion economy doubtfulThe International Monetary Fun...

On Tuesday, Bitcoin opened higher but soon slipped into negative terrain to touch a six months low of $6,871.92. The cryptocurrency has fallen more than 50 per cent from its 2019 high of $13,879.21 touched in June

On July 5 last year, Bitcoin stood at $6,541.79 which has now risen to $9,450.68, translating into a rise of 44.47% during the period.

JPMorgan had declined to join the project due to concerns the digital currency could be used for criminal activities that would violate money-laundering and sanctions rules

The survey also ranked industries that could be disrupted by emerging technologies. IoT, for instance, is expected to disrupt retail, telecom-media-technology (TMT) and automobiles.

Libra will be backed by a reserve of real-world assets, including bank deposits and short-term government securities, and overseen by the 28-member association

The panel, headed headed by Finance Secretary Subhash Garg, however makes a clear distinction between the private cryptocurrencies and an official one that the government may consider  issuing in the future. Moreover, it advocated the use of Distributed Ledger Technologies, especially in financial services.

Bitcoin fell 8 per cent on Tuesday, breaching $10,000 for the first time in two weeks after US lawmakers grilled Facebook on its cryptocurrency plans, as political and regulatory scrutiny of digital coins intensifies.

A Facebook spokesperson said that \"There are no plans to offer Calibra in India,\" \"As you may know, there are local restrictions within India that made a launch of Calibra not possible at this time.\" reported Bloomberg.