With the bull run staying for quite over a month, our Indian local board is being spammed by large number of spammers and plagiarists. Please ban them at the earliest for ruining the local board again and making the board unreadable.
#1 otr82041Copy :
Bitcoin has crossed the Rs. 11 lakh mark in India. The instability in the US, along with other factors, has promoted a resurgence of interest and the value of Bitcoin has been rising towards 2017 levels when it peaked at approximately Rs. 12.5 lakh for one Bitcoin.
The 2018 Reserve Bank of India ban on trading of cryptocurrencies put a temporary halt on its growth, but now that the Supreme Court has overturned the ban, global players are looking to enter the Indian market to make the most of the nascent but growing market. While Bitcoin is at its peak,
Ethereum is currently selling for Rs. 33,090 per unit, whereas Litecoin will cost you Rs. 4,829.
Even though cryptocurrencies have been under the scrutiny ever since inception, Bitcoin has seen tremendous growth in a short period. At the time of writing, Bitcoin is selling for Rs. 11,94,257 on BuyUcoin, Rs. 11,00,000 on LocalBitcoins, and Rs. 11,78,415 on UNOCOIN (live prices here). While Bitcoin was the first cryptocurrency to see widespread distribution, the birth of the industry gave rise to other altcoins like Ethereum, Litecoin, Ripple, Monero, and more.
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Even though cryptocurrencies have been under the scrutiny ever since inception, Bitcoin has seen tremendous growth in a short period. At the time of writing, Bitcoin is selling for Rs. 11,94,257 on BuyUcoin, Rs. 11,00,000 on LocalBitcoins, and Rs. 11,78,415 on UNOCOIN (live prices here). While Bitcoin was the first cryptocurrency to see widespread distribution, the birth of the industry gave rise to other altcoins like Ethereum, Litecoin, Ripple, Monero, and more.
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https://archive.is/lUxoZOriginal :
Features of bitcoin:
Bitcoin is a currency that is not tied to a bank or government and allows the users to spend the money anonymously.
No single institution controls the bitcoin network.
It is analogous to an online version of cash. Many products and services can be bought by it.
Bitcoin network controls the bitcoin. Bitcoin network comprises the common man who uses bitcoin, and anybody can become a part of it. To understand this network, we must understand the Bitcoin Public Ledger.
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The key aspects of the Crypto-token Regulation Bill, 2018, found in paragraph 13 of the ‘Note-precursor to report’ shows that the Inter-Ministerial Committee was fine with the idea of allowing the sale and purchase of a digital crypto asset at recognized exchanges. Therefore, the intention and the stand of the legislature remains unclear on the matter of cryptocurrencies.
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by Archana Chaudhary and Siddhartha Singh
India plans to introduce a new law banning trade in cryptocurrencies, placing it out of step with other Asian economies which have chosen to regulate the fledgling market.
The bill is expected to be discussed shortly by the federal cabinet before it is sent to parliament, according to people familiar with the development who who asked not to be identified, citing rules on speaking with the media.
The federal government will encourage blockchain, the technology underlying cryptocurrencies, but is not keen on cryptocurrency trading, according to two people. India’s finance ministry spokesman didn’t respond to call and a message seeking comments.
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A government official has reportedly confirmed that a “note” regarding the legal framework for cryptocurrency in India has been forwarded to related ministries for inter-ministerial discussions. It would then be presented to the cabinet for approval.
Status of Indian Crypto Bill
India’s cryptocurrency bill is back in the limelight on Tuesday after Moneycontrol reported on a “note” that seeks to “ban trade in cryptocurrency,” citing an unnamed government official. On the condition of anonymity, the official explained that the Indian government has been holding consultations with the law ministry, the ministry of information and technology, and the Reserve Bank of India (RBI) on a framework for a law that will “formally end trading in cryptocurrency in India,” the publication conveyed.
“After inter-ministerial consultations, it (the note) would be presented to the cabinet for approval. Once Parliament resumes for the session, we are hoping to get it ratified.”
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Major Indian cryptocurrency exchange BuyUCoin has developed a framework to regulate cryptocurrency in India that it claims has the support of “all the Indian cryptocurrency stakeholders”.
However, it is not clear yet which stakeholders helped develop the framework, or ‘sandbox’, which will be officially released on October 2.
BuyUCoin, which has more than 350,000 users and handles billion-dollar transactions, described the framework as a draft set of community driven rules, propositions and implementation methods.
The framework will be presented to the Indian Government. It comes after the Indian Supreme Court in March struck down the Reserve Bank of India's circular banning banks and other financial institutions from dealing with crypto companies. Bloomberg reported last week however the Indian government planned to introduce a new bill to ban the trade of cryptocurrencies during the monsoon session.
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After successfully implementing four pilot e-governance projects based on blockchain technology, Maharashtra government will soon come out with ‘State Blockchain Policy’ that will provide direction to India’s financial hub to be the first blockchain powered-state in the country.
The state is already working on several initiatives to adopt cutting-edge technologies for transforming government services. Fintech, data analytics, artificial intelligence, cyber security, blockchain and drones are among some technologies the state has adopted in its e-governance initiatives. Among others, blockchain has been a wider acceptance and adoption in the state.
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https://archive.is/bPPKKOriginal :
After successfully implementing four pilot e-governance projects based on blockchain technology, Maharashtra government will soon come out with ‘State Blockchain Policy’ that will provide direction to India’s financial hub to be the first blockchain powered-state in the country.
The state is already working on several initiatives to adopt cutting-edge technologies for transforming government services. Fintech, data analytics, artificial intelligence, cyber security, blockchain and drones are among some technologies the state has adopted in its e-governance initiatives. Among others, blockchain has been a wider acceptance and adoption in the state.