Crypto Operations Restrictions May be Lifted in India

Companies affected by the decision of the Indian central bank, intend to challenge it in the Supreme Court on July 20
14 June 2018   832

The restrictions imposed by the Reserve Bank of India on operations with digital assets can be lifted in the nearest future. This is reported by The Economic Times.

A special government commission opposed the ban on cryptocurrency in the country. In general, the Indian authorities can allow the circulation of the cryptocurrency, but "with some reservation".

As reported, on April 6, RBI through its notice titled ‘Prohibition on dealing in virtual currencies’, mandated banks, e-wallets and payment gateway providers to withdraw support for crypto-currency exchanges and other businesses dealing with virtual currencies (VCs) in India 

Companies affected by the decision of the Indian central bank, intend to challenge it in the Supreme Court on July 20.

Thus, the government group and a number of cryptocurrency companies do not support the decision of the Reserve Bank of India, because they are convinced that it was accepted without any research of the industry. In turn, the representatives of the Central Bank still could not clearly explain why they blocked bank accounts of crypto exchanges.

PwC to Represent Crypto Analysis Tool

Halo aims to provide warranty services to cryptocurrency transactions, in particular, the solution helps to create independent evidence for private-public key pairs
20 June 2019   80

One of the world's largest consulting firms, PricewaterhouseCoopers (PwC), announced the launch of an updated audit solution that supports cryptocurrency assets. This is stated in the press release of the company.

A tool called Halo aims to provide warranty services to cryptocurrency transactions. In particular, the solution helps to create independent evidence for private-public key pairs, which is one of the elements necessary for establishing cryptocurrency ownership rights.

In addition, Halo can collect information about transactions and balances on the blockchain.

As noted in the statement, the decision can be used by companies for which PwC is not an auditor. The initiative should help them try new opportunities and solve problems related to the blockchain and cryptocurrencies.

Currently, PwC can use the updated tool to provide warranty services to customers operating Bitcoin, Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond, LiteCoin, Ethereum, Ripple (XRP), as well as the ERC-20 OAX token.

PwC has been showing quite a strong interest in the cryptocurrency industry for several years now. So, in 2017, the company began accepting payments in Bitcoins, and last year began to develop new standards for the ecosystem of digital assets and stablecoats.