Union minister Anurag Singh Thakur, told the upper house of Indian parliament, Holding or trading cryptocurrencies like bitcoin is not banned in India.
The Minister of State to Ministry of Finance said, issues and concerns relating to Crypto currency is still under radar and investigation of a government-appointed inter ministerial committee.
He stressed that the Reserve Bank of India and the Ministry of Finance had issued a string of circulars and notices regarding the use of bitcoin and other similar coins.
As of now it’s cleared that Bitcoin is not banned in India! only a final report from the committee could shed more light on the final status of such nascent asset class.
“Presently, there is no separate law for dealing with issues relating to cryptocurrencies,” wrore Thakur in his response. “Hence, all concerned Departments and law enforcement agencies, such as RBI, Enforcement Directorate and Income Tax authorities, etc. take action as per the relevant existing laws.”
Thakur went on stating “It is difficult to state a specific timeline to come up with clear recommendations. The Inter-Ministerial Committee (IMC) under the Chairmanship of Secretary, Department of Economic Affairs is examining all issues, including the pros and cons of the introduction of an official digital currency in India. No decision on licensing and authorising any entity or company to operate such schemes or deal with Bitcoins or any virtual currency has been made as yet.”
A listing on July 1 shows, A physical bitcoin is selling on eBay for $99,000. The seller claims the “collector’s must have” is a Casascius brass token that was created in 2011.
Payment can be made in crypto or cash or for real estate. The seller says they made the purchase back in 2012 and have kept it in their safe since then, adding: “Only a few hundred remains in the ENTIRE world.”
The private key for the bitcoin is embedded inside the physical coin on a card protected by a tamper-evident hologram.
The main question remains “What can you do with this physical Bitcoin?”
Back in March, the owner of a startup that never launched its initial coin offering attempted to sell the project on the e-commerce website for $60,000.
Starting today The blockchain ready Opera Touch browser for iOS is available for download. This follows Opera’s addition of Crypto Wallet support on Android and PC, that means Opera is now Web 3 ready across all major platforms.
“I am happy to let you know that the award-winning Opera Touch browser for iOS now features crypto wallet integration and Web 3 support. This completes our efforts to offer Web 3-ready browsers with built-in Crypto Wallet on Android, Windows, Mac, Linux and now iOS. Opera Touch for iOS lets you seamlessly interact with the next generation of Web 3 applications on the Ethereum blockchain.”
Opera has won couple of awards the Red Dot Design Award and Gold IF Design Award. Opera Touch is an innovative web browser which is used by millions.
Opera supports all ERC-20 tokens, stablecoins and non-fungible tokens (NFT). Ethereum is a popular and quickly growing protocol that allows people to make transactions and enables developers to create decentralized apps (dApps) which provide practical use for this technology.
Opera Touch for iOS with Crypto Wallet, like the Opera browser for Android, supports the Ethereum Web3 API, making interacting with dApps seamless, without the need for browser extensions.
On June 21, Russian news service Interfax reported, A representative of the Russian Ministry of Finance (MinFin) says the ministry is considering allowing cryptocurrency trading.
The Deputy Minister of Finance Alexei Moiseyev told journalists on Friday that, cryptocurrency trading may be allowed in the coming bill on the circulation of cryptocurrencies in the Russian Federation.
In May of last year, A bill prohibiting the use of crypto assets as a means of payment in the Russian Federation was passed.
Anatoly Aksakov, head of the Duma Financial Market Committee, called the pending decision a compromise and pointed out that the Financial Action Task Force recommended that Russia adopt a bill regulating the circulation of cryptocurrencies by the end of this year.
Also this week, news broke that the head of the Bank of Russia said that while they are exploring the possibility of launching a central bank digital currency (CBDC), it is not planned for the near future.
DigitalMint, a Chicago-based over-the-counter cryptocurrency trading platform, has installed bitcoin kiosks at 20 Circle K convenience stores as part of a pilot program across Arizona and Nevada.
This is one of the major step taken for the expansion of crypto platform since its founding 2014, according to a press release. In five years, the company has established either ATM or in-person teller branches at 250 locations in 25 states.
“We are thrilled to be partnering with a respected organization like Circle K,” said Marc Grens, DigitMint’s president, in the release. “This partnership opens the door for massive expansion of bitcoin access to new markets around the globe.”
Consumers can buy and trade up to $20,000 bitcoin, ethereum and litecoin per day through DigitalMint ATMs. There’s a charge of 12% Per transaction, though rate reductions are available according to the company’s website.
Joel Konicke, category manager at Circle K Stores Inc stated “Partnering with DigitalMint allows us to provide our customers with seamless access to bitcoin, at a very reasonable price.”
Purchases must be made with cash, as the company does not accept debit or credit cards. Bitcoin can also be purchased through bank wire, but the company sets a $5,000 minimum. Approved customers can have transaction limits pushed above $1 million.
The bitcoin ATMs in Arizona are located in Phoenix, Mesa, Tempe, Tucson, Flagstaff, Surprise and Maricopa. In Nevada, the ATMs can be found in Las Vegas.
On June 7, The exchange revealed the news in a post on its blog, Crypto Exchange Bittrex Will Be Blocking US Users From Trading in 32 Cryptos.
Traders from US won’t be able to access few coins listed on the exchange.
The exchange also mentioned that the traders from US will receive an email with all the instructions and explanations concerning what they are and are not allowed to do. U.S. customers won’t be able to buy or sell the select coins, while all open orders involving said assets will be canceled after the change comes into effect. Some limited functionality concerning the assets will still be available to U.S. traders and the coins will be transitioned to the Bittrex International platform:
“U.S. Customers may withdraw or continue to hold in their Bittrex wallet affected Tokens/Coins for as long as Bittrex International supports a market in those Tokens/Coins.“
Bittrex International is Bittrex’s Europe-based affiliate, which lists certain tokens that are only available on the Bittrex International platform — not to U.S. users.
The decentralized exchange developed by top cryptocurrency exchange Binance will block website access to users based in 29 countries, including the U.S.
We’re not in a bull market now yet what we are in right now is a bull trend the ugly side of where we are at and where we are heading the scams are going to come back. the market gets the more creative and it’s not just coins it’s not just projects exchanges.
Who protects you or who is supposed to? what if they are decentralized? there’s no CEO or CFO who is going to protect you? is it the CFTC what they call Bitcoin a commodity and they say that they are supposed to regulate it but what are they actually regulating? The US Department of Justice is actually probed in two different projects but what have they actually done?
When it comes to cryptocurrency here’s something that’s really serious issue, the fact that that coins have been taken into wallets that you’re not controlling they’ve been sold on exchanges that’s your money being taken from you and there’s like what’s consequent to base the signal for that they have sanctuary this is that. you can’t depend on any regulators or any entities to protect and the problem will get worse.
So what can we do about it? Something peculiar about this situation, the investors who need protection there’s actually really good cryptocurrency projects who fall victim to it these exchange hacks who fall victim and the value of the cryptocurrencies get crushed so you actually have a really good project who suffers because of a hack and then there and then what happens is the community feels the coin is dumping which is a scam coin we see stuff like that all the time there’s not a lot of how can you say this you cannot do in the space of cryptocurrency without receiving some sort of a dramatic reaction and the drama goes both ways I mean we move up 5% all of a sudden people see it as trash.
What cryptocurrency does is that being said though everyone is getting excited and projects are getting so are the scammers so are the hustlers so are the people who want to steal your money everything comes with good and it comes with bad and we’re already seeing it happen.
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It is Finally happening, Bitcoin debt the price of all seems to indicate flat lining vertically got it now the bull is a conspiratorial animal and things like this are never of a natural occurrence ever neither up nor down it’s always some tether manipulation of some sort today it is most definitely because of the bad Briggs.
The government once again failed to reach consensus, after it went through resistance bang. The three key resistance levels were smashed 42 44 45 and not just for Bitcoin but Etherium over a $150 again, XRP isn’t on much difference, 450 litecoin well over $60, Finance coin is 19 bucks and Tether is a penny over a dollar, about Cardno it is almost 8, these peaks almost confuse sellers where they should put their sell orders.
Shorter’s of Bitcoin that bet the wrong way $400 million dollars lost getting liquidated in the last six hours, taking a look at what happened within 30 minutes Bitcoin jumped almost 20% to hit resistance at differing price levels. Now it depends on what exchange you saw sometimes you would have seen Bitcoin heading over 5k but generally the Aggregate a price that Bitcoin hit resistance at was for 800 for 830 someone for 850.
Many of us would like to have seen the old resistance lines be the resistance again which would learn about $6,000 sadly that’s not been the case however the good news is that this is pointing to a very positive and recent trend which is Bitcoin posting higher highs and higher lows where will it go now? to be honest no one is quite sure.
The idea of buying crypto at a peak being the point of maximum financial risk has proven to be far less true than it has been in a very long time, you don’t want to buy in if it’s a silly jump in price but so far it’s been a great idea you think you’re buying the top but nope that’s not always the case.
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