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Supreme Court of India has imposed the trade prohibition on cryptocurrencies

In a major decision, on Wednesday the Supreme Court eliminated the curbs put on controlled institutions such as banks and NBFCs by the Reserve Bank of India from virtual currencies and from the provision of services for crypto companies. This Court held that the RBI circular, banning licensed institutions from giving banking services to traders or encouraging trading in VCs, could be set aside on the “ground of proportionality”. When the consistent stand of RBI is that they have not banned VCs and when the Government of India is unable to take a call despite several committees coming up with…

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You should know about Xiaomi Blockchain

The Hong Kong-listed Chinese company has been studying blockchain since 2017, and the recent move demonstrates Xiaomi’s determination to succeed against the ranks of Alibaba and Tencent in the intense blockchain battle. The new entity has its business activities in Chongquing, a town located in the south-west of the country, with software and services related to blockchain applications as well as an AI database, data processing, and storage facilities in conjunction with the Tianyancha search network (available only in China). It is known that the reported capital of “Industry and Finance Big Data” is 66 million yuan and that the…

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