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[NEWS BLOG]: Bitcoin Not Banned In India! Finance Minister Tells Parliament

Holding or trading cryptocurrencies like bitcoin is not banned in India, union minister Anurag Singh Thakur told the upper house of Indian parliament. The Minister of State to Ministry of Finance said the issues of permitting the trading of/in cryptocurrencies remains under examination of a government-appointed interministerial 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. Nevertheless, only a final report from the committee could shed more light on the final status of such nascent asset class.

“Presently, - read more.


OTHER RELATED NEWS

Samsung to Release Crypto-Friendly Edition of Galaxy Note 10 Smartphone

Samsung Electronics is releasing a new edition of its Galaxy Note 10 smartphone that will come with a pre-installed cryptocurrency wallet in its bid to boost adoption of blockchain tech.

According to a Wall Street Journal article on Thursday, the new product is a variant of Samsung’s flagship product Galaxy Note 10 but marketed as a “KlaytnPhone,” named after a blockchain network developed by messaging giant Kakao.

To be sold on Thursday only in South Korea, the new edition’s hardware specification will not differ from existing Galaxy Note 10, but will come with blockchain apps and a crypto wallet, the report said. - read more.

Manny Pacquiao launches his own fan-backed cryptocurrency

Champion boxer Manny Pacquiao announced the launch of his own cryptocurrency at a concert in Manila on Sunday.

The cryptocurrency, called the Pac, will allow fans to buy merchandise and interact with Pacquiao -- the 40-year old boxer, Filipino Senator, and former basketball player -- via social media. 

The Pac behaves like a normal cryptocurrency in the sense that it provides a digitally tradeable token with a floating value secured by a decentralised ledger. But unlike other cryptocurrencies such as Bitcoin, the value of the Pac is touted as being backed by demand from Pacquiao's fan base for his merchandise. 

The Pac - read more.

Market Update: Bull Trap Warnings After Bitcoin Shoots Above $18k Handle

Digital asset markets have recaptured some of the losses taken three days ago, as a great majority of the crypto economy has started to rebound after the market rout. Bitcoin has climbed above the $18k handle once again and a myriad of crypto assets are up between 1-6% during the last 24 hours.

After dropping to a low of $16,300 per coin, bitcoin (BTC) has rebounded 11.3% to where the price stands today at $18,138 per unit. BTC is still up 33% for the last 30 days, 54% for the last 90 days, and 139% against USD for the last 12 months. - read more.

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