On March 7, The Gazette of India published a notification from the Ministry of Finance, subjecting a range of transactions with crypto to the Prevention of Money-Laundering Act 2002 — namely the exchange, transfers, safekeeping and administration of virtual assets. Financial services related to an issuer’s offer and sale of virtual assets also fall under the PML Act.

WazirX, India’s biggest crypto exchange, recently announced listing FLOKI on its platform. The exchange has started accepting FLOKI deposits, and its trading will go live on March 7th.

The Indian central bank is exploring the offline functionality of the digital rupee, Choudhary conveyed. Noting that the CBDC will soon become a medium of exchange in India, he emphasized that it needs to have all features of physical currency, including anonymity. The RBI executive director previously said the design of India’s CBDC will be the least disruptive and will not replace physical currency or the current financial system.

The G20 finance ministers and central bank governors recognize that cryptocurrencies pose major risks to financial stability, monetary systems, and cyber security, India’s central bank governor reportedly said. Crypto regulation was among the key topics discussed during the G20 meeting over the weekend. Reserve Bank of India (RBI) Governor Shaktikanta Das talked about cryptocurrency during a media briefing Saturday following the G20 meeting of finance ministers and central bank governors in Bengaluru. (Bitcoin.com)

India has asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to develop “a synthesis paper” on crypto assets as part of the G20 meeting of finance ministers and central bank governors under India’s presidency. “This would help in the formulation of a coordinated and comprehensive policy approach to crypto assets,” said India’s finance ministry.

Indian Finance Minister Nirmala Sitharaman and U.S. Treasury Secretary Janet Yellen discussed crypto ahead of the G20 summit being held in the tech hub Bangalore.

Indian Finance Minister Nirmala Sitharaman has stressed the importance of international cooperation in order to regulate the crypto sector. She also confirmed that Indian regulators’ crypto awareness campaign will continue to alert people about the risks of investing in crypto. “The reason is they can be anywhere but operated in India or they can be in India but operated somewhere else,” the Indian finance chief added. (Bitcoin.com)

Bosch and Fetch.ai have jointly unveiled a new foundation focused on fueling industrial adoption of software agents, AI, and Web3 technology.

India’s national payment network, called the unified payments interface (UPI), is expanding its services beyond Indian borders to Singapore. The cross-border connectivity between Singapore and India via their respective rapid payment systems, namely PayNow and the UPI. Shri Shaktikanta Das, governor of the Reserve Bank, and Mr Ravi Menon, managing director of the Monetary Authority of Singapore, launched the facility through token transactions using the UPI-PayNow linkage.

The Reserve Bank of India (RBI) is hosting its second worldwide hackathon in an effort to generate creative solutions to current problems outlined in problem statements. According to the RBI, the much-anticipated fintech event HARBINGER 2023 has finally arrived. The successful hackathon event hosted by RBI, HARBINGER 2021, is followed by this international edition, named “HARBINGER 2023 – Innovation for Transformation.” However, HARBINGER 2023 has a new theme, “Inclusive Digital Services,” and this time around, it has a new set of problem statements.