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The Indian digital finance scene may be at a crossroads. The issuance of a Digital Rupee (e₹) by the Reserve Bank of India (RBI) marks a huge step towards a digital economy, while at the same time, in other parts of the world, the DeFi sector is expanding, as financial service products and services are moving to blockchain and other decentralized financial systems that do not have traditional intermediaries. Between the two paradigms of a centrally issued digital currency and decentralized finance systems are challenges for the Indian financial ecosystem...

Indian authorities arrested at Washington's request a cryptocurrency exchange administrator accused of money laundering conspiracy and violating sanctions, India's top crime fighting bureau said on Wednesday.The United States, Germany and Finland took down the online infrastructure used by the Russian cryptocurrency exchange Garantex, the US Justice Department said last week, adding that two administrators of the exchange were charged. One of those administrators was Aleksej Besciokov, a Russian resident and Lithuanian national who was charged with money laundering and also faced accusations of violating sanctions and operating an unlicensed money-transmitting...

The financial services industry is no longer "three to five years" away from digital assets becoming ... mainstream.getty Digital assets, beginning with cryptocurrency and evolving rapidly to include tokenized forms of money and financial instruments, have been with us for well over a decade now. In the beginning they existed on the fringes of established financial systems, but as the world slowly became more accustomed to them, and as they evolved to include central bank digital currencies (CBDCs) and stablecoins, this changed. Stability and utility allowed for a genuine appreciation...