India

The outbreak of COVID-19 pandemic triggered the growth of various kinds of fraudulent activity, including that involving cryptocurrency. Despite such activity harming people from all over the world, the citizens of developing countries seem to be more vulnerable.

Cryptocurrency transaction volume in India is growing. The country’s digital currency sector has been developing swiftly despite the countrywide lockdown and the Covid-19 plague.

No one would call the life of the cryptocurrency business in India easy. First, they had to deal with a ban from the country’s Reserve Bank, and then they were hit by the COVID-19 pandemic. However, Indian exchanges manage to withstand everything. Especially after the ban was lifted by the Supreme Court.

Despite India's Supreme Court overturning a cryptocurrency ban imposed by the Reserve Bank of India (RBI), crypto businesses still face difficulties due to regulatory uncertainty and scrutiny.

Investment into the Indian-wide cryptocurrency and blockchain markets comes from every corner of the globe after lifting the ban on cryptocurrency imposed by the Reserve Bank of India

Recently, the Supreme Court of India nullified the decision by the Reserve Bank of India (RBI) putting a total ban on all virtual currency related dealings, according to reliable news outlet MENAFN.

The Reserve Bank of India recently announced cryptocurrency is not banned in the country but advised citizens not to rely on it. At the same time, the country seems to be much more friendly towards blockchain, launching a hub in Bengaluru.

The ministry of electronics and IT (MeitY) in India revealed on November 27, 2019, that the government is formulating an approach document regarding a National Level Blockchain Framework that tackles the advantage of the groundbreaking blockchain and distributed ledger technology (DLT) plus the urgent need for a collective facility for various applications.

Walmart is collaborating with IBM’s Food Trust initiative to improve the supply of delicious seafood shrimp from India. Walmart also promised to help small seafood exporters to attain Best Aquaculture Practices (BAP) certification to improve product competitiveness on the global market.