RBI

RBI hits hard on Bitcoin, DeFi, crypto trading platforms

The Reserve Bank of India (RBI) has slammed unbacked crypto assets (such as Bitcoin), stablecoins and decentralised finance (DeFi) and crypto asset trading platforms, underscoring the need for regulatory guardrails to ensure financial stability and consumer and investor protection. Jul 2, 2022
From Toronto to UN HQ in New York to Colombo, the growing global arc of IANS

From Toronto to UN HQ in New York to Colombo, IANS spreads its reach

India's largest bilingual independent newswire, Indo-Asian News Service, launched in 1986 by Gopal Raju, founder-publisher of the New York-based weekly newspaper, 'India Abroad', for a free flow of news between India and North America, renamed India Abroad News Service, has been spreading its reach. Jul 2, 2022
Cryptocurrencies

Stablecoins not stable, have 'no role' as money; warns top banker [details]

As cryptocurrencies get hammered in the economic meltdown, stablecoins -- whose value is pegged to another asset like a fiat currency or a commodity -- are also bad investments and are ill-suited as a form of money, Siddharth Tiwari, the Asia-Pacific head of the Bank of International Settlements (BIS), has said. Jun 28, 2022