The news was initially reported by Reuters, though the news agency stated that it could not independently verify the story or vouch for its accuracy. The original source link for the report can be found at: https://tinyurl.com/226v3w4h.

The post Circle Enlists JP Morgan Chase and Citi for Upcoming IPO, Public Filing Anticipated in Late April appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The certainty around the introduction of the bill to ban private cryptocurrencies in India started to take shape in January 2021. However, the officials also mentioned that despite banning crypto, the bill could allow the promotion of its underlying technology. While banning private tokens, the bill would provide a framework for the Reserve Bank of India (RBI) to issue its own digital currency.  

A few weeks ago, several major Indian banks asked their clients to provide information about their crypto-related activities. In particular, this includes banks like Citi, HDFC, HSBC, and several others.

Bitcoin has gained over 14% in the past 7 days and lost over 4% in the last 24 hours, per CoinMarketCap.com data. It is trading at around $58,000 at the time of writing.

The post Cryptocurrency ban in India will make holding and trading crypto illegal appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

The acquisition is predicted to finish in the first half of 2021. There was no mention of the financial details of the crypto security company acquisition in the press release. However, CNBC suggests the sum to be under $200 million. In October last year, PayPal launched a service that allows the company’s clients to use their accounts for holding, buying, and selling cryptocurrency.  

It could still be a long way before cryptocurrencies reach mass adoption worldwide. Meanwhile, payment providers develop services allowing their clients to use crypto for making purchases. In addition, Citi bank suggested that Bitcoin’s decentralized nature, security, and neutrality, among its other characteristics, could push it closer to mainstream adoption.

Visa announced last month a pilot program of APIs that banks could use to offer Bitcoin banking services to their clients. Moreover, MasterCard is planning to support stablecoins on its network. Crypto exchanges also go into crypto payment technology, with Bitfinex recently introducing its Bitfinex Pay, and Binance launching Binance Pay.

The post PayPal will acquire crypto security company Curv appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

If the customer fails to provide the requested information within 30 days, the bank will restrict transactions, the source says, quoting an email to customers from HDFC Bank. This action by the banks takes place amidst the Indian government deciding on a possible law that would ban all private cryptocurrencies, according to the source.

In another article, The Economic Times suggests that cryptocurrency holders started liquidating their assets amidst concerns about the possible ban. According to the source, quoting the CEO of an online banking platform for crypto, Cashaa, Kumar Gaurav, users moved over $2 billion from their addresses. However, besides the concern about the ban, now those who sold their crypto assets face paying income taxes, which, the source suggests, could be as high as 42%.

The post Indian banks ask for information about clients’ crypto holdings appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.