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Tag: Indian government

  • The Indian government may change its attitude and will not completely ban cryptocurrencies

    The Indian government’s attitude towards cryptocurrencies is not friendly. In the past few years, Indian regulators have tried to pass legislation to completely ban cryptocurrencies in India.

    Even privately holding or trading cryptocurrency is illegal, and various cryptocurrency exchanges in India are naturally driven out of the country or completely closed.

    However, recently the founder of a cryptocurrency exchange said that the Indian government may not completely ban cryptocurrencies, and instead seek more stringent and effective regulatory measures.

    Of course, the Indian government’s ban on cryptocurrency is mainly because it is worried that cryptocurrency will compete with the Indian fiat currency rupee, and the Indian people are very averse to the higher devaluation of the rupee.

    gold bitcoin

    The founders of the cryptocurrency exchange Mudrex stated that they had recently met with the Finance Committee of the Indian Parliament and obtained certain changes in the attitude of Indian government officials.

    The founder said that the Indian government has a lot of positive atmospheres. The news or feeling we got from the government is that they are seeking some kind of regulatory measures.

    The Indian government may prefer to find measures that can strictly supervise cryptocurrencies, but it is not a complete ban on cryptocurrencies, which depends on the follow-up discussions of the regulator.

    The Indian government is worried that cryptocurrencies such as Bitcoin will become fiat currency competitors and that the large fluctuations of cryptocurrencies will cause investors to incur huge losses.

    Via: financialexpress

  • Indian government announced to ban on 118 Chinese apps, including corporate WeChat, PubG, Baidu, Alipay

    The Indian government has previously announced the ban on many apps from Chinese developers. For example, Tiktok and WeChat have been blocked by the Indian government.

    Since then, these apps have announced their withdrawal from the Indian market. Alibaba Group has slowed down its investment in India, but the Indian government continues to block more Chinese apps.

    There are 118 Chinese apps that the Indian government recently blocked, including WeChat, Baidu Search, Alipay, and Alipay Hong Kong version.

    U.S block Wechat
    “wechat-press-0029.jpg” by liewcf is licensed under CC BY-SA 2.0

    The reason given by the Indian government for blocking is still the so-called endangering national security and territorial integrity. “The compilation of these data, its mining, and profiling by elements hostile to national security and defence of India, which ultimately impinges upon the sovereignty and integrity of India, is a matter of very deep and immediate concern which requires emergency measures,” the Ministry said in a statement.

    “Keeping in view the negative effects of immoral/indecent content streaming through the above applications, PTA issued notices to the management of above mentioned platforms for the purpose of removing dating services and to moderate live streaming content in accordance with the local laws of Pakistan,” the Authority said in a statement.

    “Since the platforms did not respond to the notices within the stipulated time therefore the Authority issued orders for blocking of the said applications.”

    Via: ZDNet

  • Microsoft’s acquisition of TikTok will not affect the Indian government ban

    At present, Microsoft is negotiating with ByteDance to acquire the ownership of the Tiktok app in some markets. The final result of this transaction needs to be released in mid-September.

    According to Trump, if the two parties cannot reach a deal in mid-September, Bytedance must stop operating the Tiktok app in markets such as the United States.

    Of course, according to market forecasts, Microsoft will definitely reach an agreement with ByteDance. After all, if ByteDance cannot be sold, it will also cause huge losses.

    India ban Indian

    In the Indian market, Indian officials have previously announced that the Tiktok app will be blocked. At present, many applications such as Tiktok can no longer be used in the Indian market.

    A few days ago, local media in India issued a comment that Microsoft’s acquisition of Tiktok will not affect the Indian ban, even though the current CEO of Microsoft is of Indian American origin.

    The reason for not affecting the ban is actually very simple, Microsoft is currently negotiating with ByteDance to acquire TikTok only in the US/Canada/New Zealand/Australia market.

    Therefore, the ownership of the Tiktok app in the Indian market remains unchanged from Bytedance, so India will not lift the ban because of the transaction.

    The Indian and American markets are also the most important international markets for Bytedance. The ban and pressure from the US government will indeed cause serious consequences.

    For example, the market with the largest number of users of the Tiktok is India, and the market with the highest revenue of the Tiktok is the United States. indiatimesBut for the moment, how to solve the problem of the Indian market may be the most important thing for ByteDance.

    Via: Indiatimes