Indian Panel Proposes Fines and Jail Time for Cryptocurrency Use
The panel also encouraged some distributed ledger projects including a government-owned cryptocurrency.
Australian blockchain startup Power Ledger will pilot a peer-to-peer solar energy trading platform alongside an Indian utility firm and a government agency.
The Indian government is drafting a paper outlining a new national blockchain framework, a minister wrote Wednesday.
The Reserve Bank of India has said in a court filing that it had "ringfenced" financial institutions from dealing with digital assets over perceived risks, but hadn't banned cryptos.
Binance has made a move into India's potentially huge, but troubled, cryptocurrency market with the acquisition of the WazirX exchange platform.
India's defense minister Rajnath Singh highlighted the potential use of blockchain technology in the defense industry on Monday.