News has it that Facebook is foraying into online remittances and will introduce a tethered digital asset named “Libra” to fuel this system. Libra will be linked with the INR (i.e. the Indian National Rupee) and each Libra will always convert to 1 INR. How will this play with the April 2018 RBI circular that imposed a deRead more
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Introduction With the increasing fanfare around Blockchain technology and the potential it holds for the future, commercial enterprises – Blockchain based and otherwise – are experimenting with paying salaries in cryptocurrency. This initiative broadens the cryptocurrency ecosystem[1] and also helps retain the best tech talent.[2] This post outlines the current cryptocurrency payment ecosystem, industry experienceRead more
The Government’s Position on Cryptocurrency While the novelty factor of cryptocurrency and the blockchain technology has not abated since 2009, Indian regulators have only recently begun evaluating the financial and security risks posed by virtual currencies such as Bitcoin. The Finance Minister, Mr. Arun Jaitley, announced in his 2018 Budget Speech that the government doesRead more
Anish Krishnan, interning with us at TRA for January – February 2018 and Nehaa Chaudhari, Lead – Policy have put together a timeline on key developments on #cryptocurrency law and policy in India. February 10th: Sebi chief states Rules on cryptocurrencies should be out soon. Tyagi, who is part of the committee formed by the government toRead more