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The Internet Mobile Association of India (IMAI) announced October 15 that it would be forming a committee to push more government involvement in the blockchain ecosystem.
Indian cryptocurrency exchange Unocoin is launching the country’s first digital assets ATM, even as other nations grapple with stringent regulations and a ban on banks providing services to exchanges.
Despite an infamous crackdown on digital assets, the Reserve Bank of India (RBI) has created a task force to explore avenues and unique use-cases pertaining to blockchain technology, artificial intelligence and cryptocurrencies.
Despite continuing to maintain an unfavorable stance for cryptocurrencies and citing their potential role in money laundering, Indian government officials revealed they are looking at tokenized datasets and other cryptographic forms of blockchain technology.
While China boasts the largest population in the world, its neighbor, India, comes a close second, totaling more than 1.35 billion people.
In the midst of Venezuela’s ongoing economic crisis, President Nicolas Maduro has taken yet another controversial step to promote the nation’s very own blockchain-based cryptocurrency, Petro, by offering the Indian government a 30% discount on crude oil prices ‘if’ the Southeast Asian nation agrees to make the exchange via Petro tokens.
During the week, news broke of India’s changing stance on cryptocurrency with headlines from several news sources hinting at a potential Indian crypto ban, sending markets into a panicked whirlwind and causing a Bitcoin price drop to $6,600.
In a move to promote crypto education within the world’s 7th largest economy, the Dalit Indian Chamber of Commerce and Industry (DICCI) is launching a Bitcoin mining training program which will span across 30 cities.