\"Dogecoin is a community driven cryptocurrency at the moment and the value is being determined by power and influence on social media by influencers,\" says Monark Modi, Founder and CEO, Bitex

Customers who hold bitcoin, ether, bitcoin cash and litecoin in PayPal digital wallets will now be able to convert their holdings into fiat currencies at checkouts to make purchases, the company said

The Ministry of Corporate Affairs (MCA) has made it mandatory for companies to disclose crypto trading/investments during the financial year. Experts see it as a positive step and expect the taxation rules to follow through

The industry is still unclear about the legal status of cryptocurrencies but believes this is a positive step for the digital assets space. The industry players believe this will increase institutional participations in the crypto space in the country

Underlining the huge role that technology and innovation played in serving the consumers better and faster, Das said the RBI processed 274 crore digital transactions to provide direct benefit transfer to people, most of which happened during the pandemic

Nilekani's posture assumes significance, as he is one of India's most notable technocrats, and has played a key role in creating India's digital rails - be it Aadhaar, FASTag, or GST

The government is contemplating banning the trading in cryptocurrencies like bitcoins, Ethereum and Ripple. There are also plans to issue an official digital currency by the RBI. While an outright ban on private cryptocurrencies will stifle innovations, the cryptocurrencies do need regulations to protect the interest of investors. Currently, cryptocurrencies are not legal tender in most countries, but Japan, Australia, Singapore and few other countries allow these virtual currencies as property and tradable assets. Last week, the finance minister Nirmala Sitharaman said that the  government is going to take a calibrated position on cryptocurrency. The finance minister also said that the government wants to ensure that there is a window for experiments in the Cryptocurrency space. What should be the regulatory framework for cryptocurrencies and why there is a need for regulations. Let's look at the five major areas that need the government's attention.Also Read: India is set to ban Bitcoin, Dogecoin and other crypto money with move that targets miners and traders

The uncertainty around cryptocurrencies in India continues as the government is now planning to propose a new law which will not only ban digital money but will also fine anyone trading in the country or even holding such digital assets.

The bill, one of the world's strictest policies against cryptocurrencies, would criminalise possession, issuance, mining, trading and transferring crypto-assets

While a ban on private crypto currencies will kill all future innovations in the crypto space, the virtual currencies do need a regulatory framework to protect the interest of  investors

Cryptocurrencies are digital or virtual currencies in which encryption techniques are used to regulate the generation of their units and verify the transfer of funds, operating independently of a central bank

Finance Minister Nirmala Sitharaman hints that the Centre may not go for a blanket ban on digital currencies in the country; says it's open to experimentation with new technologies

Rallying over 300 per cent in the last year, the world's largest cryptocurrency, Bitcoin, has gained popularity in the country among other crypto assets, with top exchanges witnessing a multifold jump in trading volumes

Bitcoin breached $50,000 mark for the first time on Tuesday, mainly due to increasing interest and participation from institutional investors

Bitcoin breached $50,000 mark for the first time on Tuesday, mainly due to increasing interest and participation from institutional investors

Analysts have speculated that the new cryptocurrency bill might impact some existing investors who are already investing in private digital currencies like bitcoin in the country

Cryptocurrency exchanges in India have witnessed multifold jump in their daily trades after Bitcoin, the world's largest cryptocurrency, soared over 310 per cent in 2020

Finance Minister Nirmala Sitharaman on Tuesday said that an inter-ministerial committee has suggested ban on private cryptocurrencies in India, except any virtual currencies issued by state

The RBI had earlier announced its intent to come out with an official digital currency, in the face of proliferation of cryptocurrencies like Bitcoin about which the central bank has had many concerns

Budget 2021: The digital currency platforms in India are quite hopeful that the government will make Bitcoin and other cryptocurrencies interoperable with the current banking infrastructure