India can ban cryptocurrency exchanges

Will India follow China and ban all cryptocurrency exchanges? Let's try to find out
03 November 2017   3169

One of the government committees of India recommended that lawmakers prohibit the work of "cryptocurrency dealers" in the country. Information about this appeared in the local edition of the Economic Times.

However, the source does not give more complete information about the reasons for this decision.

Instead of closing cryptocurrency dealers, the government should take steps to curb buying and selling of bitcoins or cryptocurrencies in cash. This move can reduce illegalities in the country.
If exchanges come under the definition of dealers, then in case of closure of domestic cryptocurrency exchanges, buyers will start buying them from foreign exchanges.
 

Hersam Rehman
CEO & Co-founder, Bitxoxo

Rehman said providing suitable guidelines to bitcoin exchanges could help exchanges and buyers of the currency. Exchanges had earlier requested the government to penalise individuals who are trading in it using cash.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   320

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.