RBI Maintains Pro-Ban Stance on Crypto Citing Tax Evasion Concerns

·1 views

The Reserve Bank of India continues to advocate for an outright ban on cryptocurrencies, according to a Reuters report. The central bank's primary concern remains the potential for digital assets to facilitate tax evasion. This position persists even as governments and regulators across the world are increasingly embracing crypto and blockchain technology. India's regulatory stance stands in contrast to the broader global trend of institutional and governmental adoption of digital assets.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

XRP Ledger Upgrade Leads Validators but Faces Slow Network-Wide Adoption

The XRP Ledger has received a new software upgrade that is currently leading among the network's validators. However, when measured by total node count, the older version v3.1.3 still holds more ground across the network. A security amendment bundled with the upgrade is subject to a separate, slower voting process, further complicating full adoption. For the upgrade to fully activate, it requires approval from at least 80% of the trusted validator list.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Hedge Funds Most Bearish on Yen Since 2007, Driving Corporate Bitcoin Interest

Hedge funds have reached their most bearish position on the Japanese yen since 2007, with short bets climbing to nearly 138,000 contracts as of June 30. The sharp decline in the yen's value is creating financial pressure on Japanese companies. In response, some firms are reportedly turning to cryptocurrencies such as Bitcoin and XRP as alternative stores of value. The trend reflects growing corporate interest in digital assets amid currency instability in Japan.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin Drops as U.S.-Iran Tensions Drive Oil Prices Higher

Major cryptocurrencies are experiencing a downturn amid escalating geopolitical tensions between the United States and Iran. Renewed airstrikes between the two nations have rattled financial markets, pushing oil prices upward. The rise in oil prices has coincided with selling pressure across digital assets, including Bitcoin. Investors appear to be reacting cautiously to the heightened conflict, shifting sentiment away from risk assets like crypto.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Securitize drops 40% after SPAC debut despite growing tokenization interest

Securitize, a tokenization firm backed by BlackRock, fell roughly 40% following its public market debut via a SPAC merger. The sharp decline came despite a broader boom in interest around real-world asset tokenization. Arca's Jeff Dorman noted the drop is consistent with a recurring pattern of newly listed digital asset companies underperforming after going public. The slide raises questions about investor appetite for crypto-adjacent firms in the current market environment.

0 comments Read more at CoinDesk