The United Multi State Credit Cooperative Society has partnered with London-based Cashaa Technologies to offer cryptocurrency deposits and loans to customers from January 2021 onward. The two entities have set up a joint-venture called UNICAS to enable customers to buy and invest in cryptocurrencies through physical branches, as well as take out loans against cryptocurrencies, according to a press release. Ever since the Reserve Bank of India's April 2018 circular — which prohibited banks from providing services to businesses dealing with virtual currencies — was over-turned by the Supreme Court in March this year, the domestic cryptocurrency industry has been functioning without any regulatory oversight. Unlike commercial banks and cooperative banks that are regulated by the RBI or by the National Bank for Agriculture and Rural Development (NABARD), multi-state credit cooperative societies are regulated by the Central Registrar of Cooperative…
- RBI has the powers to regulate payment aggregators: Delhi High Court October 3, 2022
- “Security Concerns” Prevented Meta from Releasing Full Report on Impact of Hate Speech on India October 3, 2022
- Meta Faces Allegations of Non-Consensual Interception of Browsing Activity in New Class-Action Suit October 3, 2022
- PrivacyNama Session: Chief Privacy Officer Roundtable; October 7 October 1, 2022
- Delhi police deploys drones to monitor anti-CAA protest centre Shaheen Bagh October 1, 2022
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