First US State where you can no longer mine crypto: Law Decoded, Nov. 21-28
The state of New York became the first one in the United States to impose a moratorium on proof-of-work (PoW) mining, albeit only for two years. Last week, New York governor Kathy Hochul signed the moratorium into a bill, prohibiting any new mining operations that aren’t based on 100% renewable energy. The renewal of licenses […]
The Reserve Bank of India to launch a retail CBDC pilot in December
Having tested the wholesale usage of its central bank digital currency (CBDC), the Reserve Bank of India (RBI) is preparing to conduct the retail pilot of the “digital rupee.” The pilot should launch within a month. According to the Economic Times of India, the RBI is in the final stage of preparing the rollout of […]
Crypto regulation is 1 of 8 planned priorities under India’s G20 presidency, says finance minister
India’s Finance Minister Nirmala Sitharaman said she would love to show that the country is “moving speedily forward” with digital financial technology as it prepares to assume the presidency of the G20. Speaking at the Indian Council for Research on International Economic Relations on Nov. 1, Sitharaman said the people of India have taken to […]
Reserve Bank of India to reportedly launch digital rupee pilot in November
The Reserve Bank of India (RBI) is on track to debut the central bank digital currency (CBDC) after announcing the digital rupee project in February this year. The central bank of India will launch the digital rupee pilot for the wholesale segment on Nov. 1, the RBI reportedly announced on Monday. The pilot will involve […]
Web3 to inject $1.1T in India’s GDP by 2032, following 37x growth since 2020
The global Web3 boom is expected to add $1.1 trillion to the Indian economy over the next decade, supporting the investment-based momentum driven by over 450 in-house startups, including CoinDCX, Polygon and CoinSwitch. A recent study from the National Association of Software and Service Companies (NASSCOM), an Indian non-governmental trade association and advocacy group, highlighted […]
Shoppers in India can now order sneakers in the Metaverse for a week
Consumers in India are getting more options for a digital shopping experience as major local e-commerce platforms increasingly experiment with blockchain and the Metaverse. Indian shoppers can try out products from brands like Puma and Nivea in the gamified and interactive metaverse. That is thanks to local e-commerce giant Flipkart launching a metaverse space for […]
Report: India ranks third in the world in terms of Web 3.0 workforce size
According to a new study published by the National Association of Software and Services Companies (NASSCOM), a non-profit organization in India with over 3,000 members, the country currently possesses 11% of the world’s Web 3.0 talent. The figure makes India the world’s third largest regarding its Web 3.0 workforce, employing nearly 75,000 blockchain professionals today. […]