Binance CEO CZ welcomed India’s move to have a common regulatory framework for crypto regulation among the G20 nations. He said having any regulatory framework is better than not having any clarity. The country’s administration, which currently holds the G20 presidency, is actively in discussion with the member countries about regulating the web 3.0 space.

Indian Finance Minister Nirmala Sitharaman has stated that it is too early to assess the spillover effects of central bank digital currencies (CBDCs) during the question hour of the parliament as per a report by IANS.

Indian authorities once again demonstrated their tough stance on cryptocurrencies with a preemptive ban on crypto advertising and sponsorships in the local women’s cricket league. 

The analysis from Research and Markets forecasts that by 2025, the worldwide blockchain industry will be worth USD 39.7 billion, expanding at a CAGR of 67.3% from 2020 to 2025.

India is having “detailed discussions” with other G20 members about forming a collective standard operating procedure (SOP) to regulate crypto assets, Indian Finance Minister Nirmala Sitharaman has revealed. She also called for “a globally coordinated approach on the regulation of crypto assets” during her recent meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva. (Bitcoin.com)

Onramp.Money will seamlessly integrate within the MetaMask wallet, enabling all Indian MetaMask users to buy cryptocurrency directly using their API.

In a huge development, Metamask announced it will now allow Indian users to make transactions using their bank. This will bring instant crypto access to India’s user base using the country’s flagship payments technology Unified Payments Interface (UPI). Essentially, users will be able to purchase crypto directly within the MetaMask app through local payment methods like UPI and IMPS. The move could potentially bring massive shift in crypto traders in India in the way they go about dealing in cryptocurrencies.

MetaMask has integrated with Onramp.money, an Indian provider of crypto-to-fiat on-ramp services.

Rabi Sankar, Deputy Governor at Reserve Bank of India (RBI), announced the first milestones of India’s digital currency at a policy press conference on Wednesday, detailing that the country's CBDC pilot now has 50,000 users and 5,000 merchants.

Indian crypto exchange Wazirx has denied the allegations made by Binance regarding the relationship between the two crypto exchanges. Emphasizing that the allegations “are false and unsubstantiated,” Wazirx stressed. “As far as Binance’s actions are concerned, we are taking the necessary steps to seek recourse and protect our legal rights.” (Bitcoin.com)