FIU-India is expected to lift the ban on Binance, the world's largest crypto exchange, after completing due diligence, a top government official said on Friday.
It had, however, lifted the ban on another offshore crypto exchange KuCoin in March after imposing a penalty of ₹34.5 lakh.
Some industry players welcomed the move by the regulator, saying it gives the much-needed credibility boost for the crypto industry, but others are concerned that the entry of these global players may impact business.
"From an ecosystem point of view in India, when players come under a department or a regulator it is a good (move) since activities happening on the platforms are monitored," said Sumit Gupta, co-founder and CEO of CoinDCX, a crypto exchange platform.
Diese Geschichte stammt aus der May 13, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der May 13, 2024-Ausgabe von Business Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
A-I's Rise Could Impact 3 Gulf Hubs: Saudia
Air India (AI)'s rise could be at the expense of three "super-connector" hubs Doha in Qatar, and Dubai and Abu Dhabi in the UAE as the Indian passenger would any day prefer direct flights of their national airline that is providing excellent on-time service, Arved von zur Muehlen, Chief Commercial Officer of Saudia Airlines, said on Thursday.
Back To Basics: Paytm's Focus Is Payments And Distribution
Paytm, the country's leading fintech player which had to shut its payment bank business following regulatory action, is revisiting its business strategy including partnership with lenders.
Nvidia Overtakes Apple As Second-Most Valuable Company
Valuation tops $3 trn; the last time it was worth more than iPhone maker was in 2002
Trai dials National Numbering Plan tweak
The Telecom Regulatory Authority of India (Trai) on Thursday issued a consultation paper on revising the National Numbering Plan to create a sustainable pool of new phone numbers for the country's nearly 1.2 billion mobile phone connections.
South, East India accounted for 67% of heatwave days in 2023
The number of heatwave days in east and southern peninsular India during peak summer in 2023 almost doubled and accounted for nearly two-thirds of the total heatwave days experienced across the country, the latest data released by the National Statistical Office (NSO) showed.
Monsoon reaches Maharashtra: IMD
Southwest monsoon reached Maharashtra on Thursday, bringing respite to the state where many parts have been reeling under scorching heat and severe water shortage.
EV portfolio to drive Uno Minda growth
The stock of auto component maker Uno Minda jumped 13 per cent on Thursday after it announced a technical licensing agreement with ChinaInovance based Suzhou Automotive Company.
New govt to boost infra sector, but expect some hurdles
The general elections inevitably led to a slowdown in government projects through Q4FY24 and Q1FY25 with muted activity.
Markets extend gains as govt formation nears
Sensex jumps 692 pts, Vix slumps for 2nd day
MF platforms face backlash over delay in unit allotments
Several investors wanting to invest in mutual fund (MF) schemes, amid the selloff in the market on Tuesday, were left in the lurch as online MF investment platforms failed to execute the transactions on time.