India, a country that has at times sought to ban and severely limit crypto usage within its borders, has as of Dec. 1 assumed the presidency of the Group of 20 – the intergovernmental forum of some of the world’s largest economies – just as much of the world is pondering whether stricter regulation of the industry is needed.

India will undertake the first pilot for retail digital currency on December 1, the central bank said Tuesday, extending the test to evaluate the creation and distribution of the e-rupee in the South Asian market with a closed group of customers and merchants a month after it began evaluating the CBDC for the wholesale segment.

According to the latest tweet from NEAR India, Growfitter, which is India’s biggest move-to-earn Web3 platform, has partnered with NEAR India, NEAR Foundation’s local hub in India. To expand its operations globally, Growfitter’s integration into the NEAR&nbsp;<a href="https://blockchainreporter.net/blockchain/">blockchain</a>&nbsp;is a valuable step forward to fulfill the company’s commitment to broaden its offerings in Vietnam, the Philippines, Dubai, and Singapore.&nbsp;&nbsp;

Many cryptocurrency exchanges believe that the early adoption of digital currencies will help India gain an advantage in the steadily growing global cryptocurrency ecosystem.

Binance CEO Changpeng Zhao (CZ) has all but given up on India. Pointing out the 1% transaction tax that came into force on 1 July 2022, CZ said it makes crypto trading unviable in India.&nbsp; “If you are going to tax 1% on each transaction, there is not going to be that many transactions… To be honest, I don’t think India is a very crypto-friendly environment,” he said.