#india's cryptocurrency bill

[cryptomarkett]

In 2022 US Crypto Industry Increase Lobbying Budgets by 120%

The US Crypto industry is projected to increase its lobbying budget by 120% in 2022, demonstrating a clear commitment to influencing the legislative landscape...Read More

[strangetreeharmony]

CIFDAQ Founder Himanshu Maradiya Challenges Web3 Brain Drain with India-Centric Approach

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

India's Web3 landscape is thriving with new players coming in. However, this burgeoning sector finds itself at a critical crossroads. On one hand, India grapples with stringent regulatory measures that pose challenges for crypto and blockchain businesses. On the other, the country boasts a vibrant environment ripe with opportunities for exponential growth in the Web3 sector.

To gain a deeper understanding of this dynamic industry and also spotlight a key player in the ecosystem, we sat down with Himanshu Maradiya, Founder and Chairman of CIFDAQ. 

In this exclusive interview, Maradiya shares key insights on India's Web3 challenges and explains CIFDAQ's unique position within this ecosystem.

The Paradox of India's Web3 Landscape

According to KPMG, India boasts one of the world's largest Web3 ecosystems, with over 1,000 startups operating in this space. The country's enthusiasm for cryptocurrencies is equally impressive, with recent research indicating that India is home to an estimated 100 million crypto owners as of late 2023.

The vibrancy of India's Web3 scene is further evidenced by the proliferation of meetups, events, and gatherings across the country that serve as hotbeds for innovation, networking, and knowledge sharing. 

However, beneath this growth lies a concerning trend that threatens India's position in the global Web3 landscape. At nearly every industry gathering, many founders reveal they are relocating to Dubai or have already moved.

Entrepreneurs are increasingly seeking jurisdictions that offer welcoming environments, supportive ecosystems, and favorable regulatory frameworks. Dubai, in particular, has emerged as a prime destination, actively crafting rules and regulations designed to attract Web3 talent and businesses. 

The catalyst for this shift can be traced back to November 2021, when anticipation of high taxes and stringent cryptocurrency regulations in the proposed Crypto Bill began to take hold. Since then, industry executives estimate that over a hundred Indian entrepreneurs have relocated to Dubai and registered their businesses there. 

Additionally, reports suggest that following the introduction of a 1% Tax Deducted at Source (TDS) and a 30% tax on Virtual Digital Assets (VDAs), trading volumes on Indian exchanges have plummeted by a staggering 97%, with active users decreasing by 81%. 

Maradiya’s Take on India's Regulatory Approach

Despite the challenges faced by the Indian crypto industry, Maradiya offers an optimistic perspective on the country's regulatory landscape. 

“Crypto regulations in India are playing a significant role in shaping the blockchain and crypto industry,” emphasized Maradiya.

Furthermore, he stated that while these regulations are indeed stringent, they are designed to create a balanced framework that promotes innovation, security, and financial stability. He points out that this balance is achieved by incorporating crypto into the taxation framework and requiring registration of Reporting Entities (RE) with the Financial Intelligence Unit (FIU) under the Ministry of Finance, Government of India.

In light of this regulatory landscape, Maradiya revealed that CIFDAQ adopts a country-centric approach and plans to operate in India as a Registered Entity with the FIU under the Ministry of Finance.

When discussing the trend of Indian Web3 startups relocating to Dubai, Maradiya offered a balanced view. He recognized that the migration of startups to Dubai is primarily motivated by regulatory clarity, tax benefits, and a business-friendly environment.

Additionally, he noted that Dubai's well-defined regulations, low taxes, and strong support for Web3 technologies make it an attractive destination for startups seeking stability and growth opportunities. The vibrant international community and access to global markets in Dubai further enhance its appeal.

However, Maradiya was quick to highlight India's unique position and potential in the global Web3 landscape. He pointed out several key strengths that position India as a potential leader in this space. 

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya. “India also ranks first in the Chainalysis Global Crypto Adoption Index for 2023, driven by a predominantly young and tech-savvy user base.”

Maradiya also emphasized the progress being made at the government level. He noted that the Indian government is increasingly recognizing the potential of blockchain technology, with multiple state governments initiating blockchain-based projects. He believes that further regulatory clarity will only enhance this progress.

The CIFDAQ Blueprint

Moving from the broader industry perspective, our conversation with Maradiya shifted to focus on his venture, CIFDAQ, a new-generation blockchain ecosystem that leverages artificial intelligence (AI) and machine learning (ML) to create a platform that's resilient against external hacking, fraud, and corruption. 

Interestingly, CIFDAQ has been self-funded to date, but Maradiya revealed that the company is now preparing for an upcoming funding round of Rs 40 crore. 

“A significant portion of these funds will be allocated towards continuous technological enhancements, ensuring that CIFDAQ remains at the forefront of innovation in the industry,” Maradiya added.

In addition, Maradiya shared that the company intends to raise a total of Rs 200 crore in phases over the next 12 months through equity dilution.

The following is an excerpt of the interview that further delves into CIFDAQ.

(Editorial Note: The answers in the following excerpt have been condensed for brevity. However, we have carefully preserved the original context and meaning of Maradiya's statements.)

Newzchain: What is CIFDAQ's current primary focus in terms of product development and market expansion?

Maradiya: Currently, CIFDAQ's primary focus in terms of product development revolves around launching a robust and secure blockchain ecosystem tailored for the Indian and Southeast Asian markets. In parallel, CIFDAQ is gearing up for market expansion strategies that will initially focus on establishing a strong presence within India's burgeoning blockchain and Web3 ecosystem. 

We aim to position CIFDAQ as a leader in facilitating secure digital transactions and fostering innovation across various sectors including finance, real estate, and supply chain management.

Furthermore, our market expansion efforts will extend to Southeast Asia, adapting our platform to local needs and regulations. The focus is on user-centric design and international compliance to ensure a trustworthy blockchain experience.

Our key product milestones include:

Q3 2024: Introducing our centralized exchange (CEX) and listing CIFD, our native token.Q4 2024: Launching Dex and DeFi products for decentralized trading and financial services.

Concurrent with these: Releasing MPC Wallet V 2.0 with enhanced security and functionality.

These initiatives aim to enhance our blockchain ecosystem and expand our market presence.

Looking ahead to 2025, our roadmap includes:

Q1: Launching an NFT marketplace for digital collectibles and art.

Q1: Introducing CIFDAQ Custodian for institutional clients and Launchpad for new blockchain projects.

Q2: Entering the GameFi sector to integrate blockchain with gaming.

Q3: Rolling out Layer 1 and Layer 2 blockchain solutions for scalable, efficient frameworks.

Newzchain: What role does the CIFD Coin play in your ecosystem, and how does it drive value creation?

Maradiya: CIFD Coin is our native cryptocurrency, crucial for value creation in our ecosystem. It serves as the primary medium of exchange, facilitating transactions and fee payments. We use it for staking, governance, and managing digital assets, including NFTs. CIFD Coin also rewards network contributors and AI data providers, incentivizing participation. 

Furthermore, coin holders can vote on platform decisions, ensuring community involvement in our ecosystem's evolution. And it's designed for cross-platform utility, enhancing its value beyond our ecosystem. 

CIFD Coin is actively traded on various exchanges, providing liquidity for users. These functions collectively promote decentralization, security, and transparency, making CIFD Coin vital to our ecosystem's growth and innovation.

Newzchain: Where do you see CIFDAQ in the next five years? What are the major milestones you aim to achieve within this period? 

Maradiya: In the next five years, CIFDAQ is poised to become one of India's leading blockchain ecosystem companies, driving global blockchain development with world-class products and services tailored to local ecosystems. 

Our initial focus for the first 24 months is on introducing and scaling our products, stabilizing our technology and operations, and securing licenses in at least one or two Southeast Asian countries. We plan to expand our operations throughout the region.

Beyond innovation, we're committed to positively impacting the economy and fostering market growth. We aim to ensure our stakeholders benefit from our success through regulatory compliance and ethical business practices that promote sustainability and long-term value creation.#CIFDAQ #CRYPTO #BLOCKCHAIN #WEB3

www.cifdaq.com

[insiderexpertwolf]

Navigating the Crypto Landscape: News, Trends, and Investment Strategies for 2025

Since its inception in 2009, Bitcoin has revolutionized how we perceive money and financial transactions. The cryptocurrency market is constantly evolving, with Bitcoin news emerging every second, influencing Bitcoin prices and mining activities. Staying informed is crucial, whether you're a seasoned investor or just starting. This article provides a comprehensive guide to navigating the crypto landscape, covering the latest news, emerging trends, and investment strategies for success in 2025.

Latest Crypto News and Market Trends

Bitcoin (BTC): As of February 2, 2025, Bitcoin is trading at approximately $99,383.00. Bitcoin price hit an all-time high of over $69,000 in November 2021. Analysts believe that Bitcoin’s bull market could extend past 2025 with institutional involvement and shifting market dynamics. Be aware of potential bear traps, which are coordinated selling efforts that cause temporary price dips in a long-term uptrend.

Ethereum (ETH): Ethereum is trading at approximately $3,096.90. Ethereum's dominance in fee earnings remained unchallenged in 2024, with a total of almost $2.5 billion, more than double that of TRON. Analysts are closely watching if Solana can compete with Ethereum to be the top Layer 1 blockchain. Ethereum faces significant resistance at $3,400, with over $1 billion worth of cumulative leveraged shorts set to be liquidated.

Altcoins: Litecoin (LTC) and Mantra (OM) are showing potential for gains. Solana (SOL) is trading at approximately $213.44. Solana is gaining traction with significantly higher daily transactions compared to Ethereum. XRP (XRP) is trading at approximately $2.84. Dogecoin (DOGE) is in focus with Grayscale launching a DOGE trust.

Stablecoins: Tether (USDT) reported net profits of $13 billion in 2024. Kraken is delisting Tether (USDT) and other stablecoins in Europe to comply with MiCA regulations.

Other News: Trump's tariffs may impact the crypto market. North Dakota introduces a bill to uphold Bitcoin mining rights. El Salvador ends mandatory Bitcoin acceptance for merchants. Malaysia is leveraging Blockchain and AI to fight fraud.

Investment Strategies and Tips

Diversification: Consider diversifying your crypto portfolio to mitigate risk. Investing in a mix of Bitcoin, Ethereum, and promising altcoins can provide a balanced approach.

Stay Informed: Keeping a close eye on BTC prices and Bitcoin news is essential due to the cryptocurrency market's volatility.

Utilize Crypto Exchanges: Use cryptocurrency exchanges, Bitcoin ATMs, or P2P marketplaces to buy Bitcoin.

Monitor Market Sentiment: Pay attention to where investment capital is flowing to gauge market sentiment and identify potential high-growth areas.

Be Aware of Regulatory Changes: Stay informed about regulatory developments, such as India's tax penalties on undisclosed crypto gains and Europe's MiCA regulations affecting stablecoins.

Long-Term Holding (HODL): Consider a long-term holding strategy, as demonstrated by Illinois' proposed state-run Bitcoin reserve with a five-year holding period.

Assess Risk Tolerance: Understand the risks associated with cryptocurrency investments and carefully consider your risk tolerance before investing.

Follow Expert Analysis: Look to crypto analysts for insights on market trends, potential breakouts, and future price targets.

Guides

How to Buy Bitcoin: Cryptocurrency Exchange: Use reputable exchanges like Coinbase to purchase Bitcoin. Bitcoin ATMs: Utilize Bitcoin ATMs for quick purchases. P2P Marketplace: Engage in peer-to-peer transactions for potentially better rates.

How to Stay Safe from Crypto Scams: Be wary of "pump-and-dump" schemes: Chainalysis reports that nearly 5% of all tokens launched in 2024 had patterns similar to pump-and-dump schemes. Beware of Telegram scams: Crypto scammers are increasingly using Telegram to target victims. Adjust slippage tolerance: When trading, adjust slippage tolerance to protect your crypto trades from being exploited by sandwich attacks.

How to Earn Free Bitcoin: Bitcoin Faucets: Explore opportunities to earn free Bitcoin through various Bitcoin faucets.

Examples of Successful Crypto Investments

Ethereum Trader: Some cryptocurrency traders are profiting millions from Ether’s downtrend through leveraged trading.

Thumzup Media Corporation: Doubled its Bitcoin holdings to 19.106 BTC, increasing its investment in digital assets to $2 million.

MicroStrategy: MicroStrategy’s stock offering was oversubscribed 3x due to the "Bitcoin Effect".

Tether: Reported net profits of $13 billion during 2024.

The cryptocurrency market offers exciting opportunities, but it also demands vigilance and informed decision-making. By staying updated on the latest news, understanding market trends, and employing sound investment strategies, you can navigate the crypto landscape successfully in 2025.

[universaldogemusk]

CIFDAQ Founder Himanshu Maradiya Challenges Web3 Brain Drain with India-Centric Approach

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

In this exclusive interview, Maradiya shares key insights on India's Web3 challenges and explains CIFDAQ's unique position within this ecosystem.

The Paradox of India's Web3 Landscape

According to KPMG, India boasts one of the world's largest Web3 ecosystems, with over 1,000 startups operating in this space. The country's enthusiasm for cryptocurrencies is equally impressive, with recent research indicating that India is home to an estimated 100 million crypto owners as of late 2023.

The vibrancy of India's Web3 scene is further evidenced by the proliferation of meetups, events, and gatherings across the country that serve as hotbeds for innovation, networking, and knowledge sharing. 

However, beneath this growth lies a concerning trend that threatens India's position in the global Web3 landscape. At nearly every industry gathering, many founders reveal they are relocating to Dubai or have already moved.

Entrepreneurs are increasingly seeking jurisdictions that offer welcoming environments, supportive ecosystems, and favorable regulatory frameworks. Dubai, in particular, has emerged as a prime destination, actively crafting rules and regulations designed to attract Web3 talent and businesses. 

The catalyst for this shift can be traced back to November 2021, when anticipation of high taxes and stringent cryptocurrency regulations in the proposed Crypto Bill began to take hold. Since then, industry executives estimate that over a hundred Indian entrepreneurs have relocated to Dubai and registered their businesses there. 

[hellofun-0045]

CIFDAQ Founder Himanshu Maradiya Challenges Web3 Brain Drain with India-Centric Approach

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

India's Web3 landscape is thriving with new players coming in. However, this burgeoning sector finds itself at a critical crossroads. On one hand, India grapples with stringent regulatory measures that pose challenges for crypto and blockchain businesses. On the other, the country boasts a vibrant environment ripe with opportunities for exponential growth in the Web3 sector.

To gain a deeper understanding of this dynamic industry and also spotlight a key player in the ecosystem, we sat down with Himanshu Maradiya, Founder and Chairman of CIFDAQ.

In this exclusive interview, Maradiya shares key insights on India's Web3 challenges and explains CIFDAQ's unique position within this ecosystem.

The Paradox of India's Web3 Landscape According to KPMG, India boasts one of the world's largest Web3 ecosystems, with over 1,000 startups operating in this space. The country's enthusiasm for cryptocurrencies is equally impressive, with recent research indicating that India is home to an estimated 100 million crypto owners as of late 2023.

The vibrancy of India's Web3 scene is further evidenced by the proliferation of meetups, events, and gatherings across the country that serve as hotbeds for innovation, networking, and knowledge sharing.

However, beneath this growth lies a concerning trend that threatens India's position in the global Web3 landscape. At nearly every industry gathering, many founders reveal they are relocating to Dubai or have already moved.

Entrepreneurs are increasingly seeking jurisdictions that offer welcoming environments, supportive ecosystems, and favorable regulatory frameworks. Dubai, in particular, has emerged as a prime destination, actively crafting rules and regulations designed to attract Web3 talent and businesses.

The catalyst for this shift can be traced back to November 2021, when anticipation of high taxes and stringent cryptocurrency regulations in the proposed Crypto Bill began to take hold. Since then, industry executives estimate that over a hundred Indian entrepreneurs have relocated to Dubai and registered their businesses there.

Additionally, reports suggest that following the introduction of a 1% Tax Deducted at Source (TDS) and a 30% tax on Virtual Digital Assets (VDAs), trading volumes on Indian exchanges have plummeted by a staggering 97%, with active users decreasing by 81%.

Maradiya’s Take on India's Regulatory Approach Despite the challenges faced by the Indian crypto industry, Maradiya offers an optimistic perspective on the country's regulatory landscape.

“Crypto regulations in India are playing a significant role in shaping the blockchain and crypto industry,” emphasized Maradiya. Furthermore, he stated that while these regulations are indeed stringent, they are designed to create a balanced framework that promotes innovation, security, and financial stability. He points out that this balance is achieved by incorporating crypto into the taxation framework and requiring registration of Reporting Entities (RE) with the Financial Intelligence Unit (FIU) under the Ministry of Finance, Government of India.

In light of this regulatory landscape, Maradiya revealed that CIFDAQ adopts a country-centric approach and plans to operate in India as a Registered Entity with the FIU under the Ministry of Finance.

When discussing the trend of Indian Web3 startups relocating to Dubai, Maradiya offered a balanced view. He recognized that the migration of startups to Dubai is primarily motivated by regulatory clarity, tax benefits, and a business-friendly environment.

Additionally, he noted that Dubai's well-defined regulations, low taxes, and strong support for Web3 technologies make it an attractive destination for startups seeking stability and growth opportunities. The vibrant international community and access to global markets in Dubai further enhance its appeal.

However, Maradiya was quick to highlight India's unique position and potential in the global Web3 landscape. He pointed out several key strengths that position India as a potential leader in this space.

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya. “India also ranks first in the Chainalysis Global Crypto Adoption Index for 2023, driven by a predominantly young and tech-savvy user base.” Maradiya also emphasized the progress being made at the government level. He noted that the Indian government is increasingly recognizing the potential of blockchain technology, with multiple state governments initiating blockchain-based projects. He believes that further regulatory clarity will only enhance this progress.

The CIFDAQ Blueprint Moving from the broader industry perspective, our conversation with Maradiya shifted to focus on his venture, CIFDAQ, a new-generation blockchain ecosystem that leverages artificial intelligence (AI) and machine learning (ML) to create a platform that's resilient against external hacking, fraud, and corruption.

Interestingly, CIFDAQ has been self-funded to date, but Maradiya revealed that the company is now preparing for an upcoming funding round of Rs 40 crore.

“A significant portion of these funds will be allocated towards continuous technological enhancements, ensuring that CIFDAQ remains at the forefront of innovation in the industry,” Maradiya added. In addition, Maradiya shared that the company intends to raise a total of Rs 200 crore in phases over the next 12 months through equity dilution.

The following is an excerpt of the interview that further delves into CIFDAQ.

(Editorial Note: The answers in the following excerpt have been condensed for brevity. However, we have carefully preserved the original context and meaning of Maradiya's statements.)

Newzchain: What is CIFDAQ's current primary focus in terms of product development and market expansion?

Maradiya: Currently, CIFDAQ's primary focus in terms of product development revolves around launching a robust and secure blockchain ecosystem tailored for the Indian and Southeast Asian markets. In parallel, CIFDAQ is gearing up for market expansion strategies that will initially focus on establishing a strong presence within India's burgeoning blockchain and Web3 ecosystem.

We aim to position CIFDAQ as a leader in facilitating secure digital transactions and fostering innovation across various sectors including finance, real estate, and supply chain management.

Furthermore, our market expansion efforts will extend to Southeast Asia, adapting our platform to local needs and regulations. The focus is on user-centric design and international compliance to ensure a trustworthy blockchain experience.

Our key product milestones include:

Q3 2024: Introducing our centralized exchange (CEX) and listing CIFD, our native token.Q4 2024: Launching Dex and DeFi products for decentralized trading and financial services. Concurrent with these: Releasing MPC Wallet V 2.0 with enhanced security and functionality. These initiatives aim to enhance our blockchain ecosystem and expand our market presence.

Looking ahead to 2025, our roadmap includes:

Q1: Launching an NFT marketplace for digital collectibles and art. Q1: Introducing CIFDAQ Custodian for institutional clients and Launchpad for new blockchain projects. Q2: Entering the GameFi sector to integrate blockchain with gaming. Q3: Rolling out Layer 1 and Layer 2 blockchain solutions for scalable, efficient frameworks. Newzchain: What role does the CIFD Coin play in your ecosystem, and how does it drive value creation?

Maradiya: CIFD Coin is our native cryptocurrency, crucial for value creation in our ecosystem. It serves as the primary medium of exchange, facilitating transactions and fee payments. We use it for staking, governance, and managing digital assets, including NFTs. CIFD Coin also rewards network contributors and AI data providers, incentivizing participation.

Furthermore, coin holders can vote on platform decisions, ensuring community involvement in our ecosystem's evolution. And it's designed for cross-platform utility, enhancing its value beyond our ecosystem.

CIFD Coin is actively traded on various exchanges, providing liquidity for users. These functions collectively promote decentralization, security, and transparency, making CIFD Coin vital to our ecosystem's growth and innovation.

Newzchain: Where do you see CIFDAQ in the next five years? What are the major milestones you aim to achieve within this period?

Maradiya: In the next five years, CIFDAQ is poised to become one of India's leading blockchain ecosystem companies, driving global blockchain development with world-class products and services tailored to local ecosystems.

Our initial focus for the first 24 months is on introducing and scaling our products, stabilizing our technology and operations, and securing licenses in at least one or two Southeast Asian countries. We plan to expand our operations throughout the region.

Beyond innovation, we're committed to positively impacting the economy and fostering market growth. We aim to ensure our stakeholders benefit from our success through regulatory compliance and ethical business practices that promote sustainability and long-term value creation. WWW.CIFDAQ.COM

[cryptowala]

CIFDAQ Founder Himanshu Maradiya Challenges Web3 Brain Drain with India-Centric Approach

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

India's Web3 landscape is thriving with new players coming in. However, this burgeoning sector finds itself at a critical crossroads. On one hand, India grapples with stringent regulatory measures that pose challenges for crypto and blockchain businesses. On the other, the country boasts a vibrant environment ripe with opportunities for exponential growth in the Web3 sector.

To gain a deeper understanding of this dynamic industry and also spotlight a key player in the ecosystem, we sat down with Himanshu Maradiya, Founder and Chairman of CIFDAQ. 

In this exclusive interview, Maradiya shares key insights on India's Web3 challenges and explains CIFDAQ's unique position within this ecosystem.

The Paradox of India's Web3 Landscape

According to KPMG, India boasts one of the world's largest Web3 ecosystems, with over 1,000 startups operating in this space. The country's enthusiasm for cryptocurrencies is equally impressive, with recent research indicating that India is home to an estimated 100 million crypto owners as of late 2023.

The vibrancy of India's Web3 scene is further evidenced by the proliferation of meetups, events, and gatherings across the country that serve as hotbeds for innovation, networking, and knowledge sharing. 

However, beneath this growth lies a concerning trend that threatens India's position in the global Web3 landscape. At nearly every industry gathering, many founders reveal they are relocating to Dubai or have already moved.

Entrepreneurs are increasingly seeking jurisdictions that offer welcoming environments, supportive ecosystems, and favorable regulatory frameworks. Dubai, in particular, has emerged as a prime destination, actively crafting rules and regulations designed to attract Web3 talent and businesses. 

The catalyst for this shift can be traced back to November 2021, when anticipation of high taxes and stringent cryptocurrency regulations in the proposed Crypto Bill began to take hold. Since then, industry executives estimate that over a hundred Indian entrepreneurs have relocated to Dubai and registered their businesses there. 

Additionally, reports suggest that following the introduction of a 1% Tax Deducted at Source (TDS) and a 30% tax on Virtual Digital Assets (VDAs), trading volumes on Indian exchanges have plummeted by a staggering 97%, with active users decreasing by 81%. 

Maradiya’s Take on India's Regulatory Approach

Despite the challenges faced by the Indian crypto industry, Maradiya offers an optimistic perspective on the country's regulatory landscape. 

“Crypto regulations in India are playing a significant role in shaping the blockchain and crypto industry,” emphasized Maradiya.

Furthermore, he stated that while these regulations are indeed stringent, they are designed to create a balanced framework that promotes innovation, security, and financial stability. He points out that this balance is achieved by incorporating crypto into the taxation framework and requiring registration of Reporting Entities (RE) with the Financial Intelligence Unit (FIU) under the Ministry of Finance, Government of India.

In light of this regulatory landscape, Maradiya revealed that CIFDAQ adopts a country-centric approach and plans to operate in India as a Registered Entity with the FIU under the Ministry of Finance.

When discussing the trend of Indian Web3 startups relocating to Dubai, Maradiya offered a balanced view. He recognized that the migration of startups to Dubai is primarily motivated by regulatory clarity, tax benefits, and a business-friendly environment.

Additionally, he noted that Dubai's well-defined regulations, low taxes, and strong support for Web3 technologies make it an attractive destination for startups seeking stability and growth opportunities. The vibrant international community and access to global markets in Dubai further enhance its appeal.

However, Maradiya was quick to highlight India's unique position and potential in the global Web3 landscape. He pointed out several key strengths that position India as a potential leader in this space. 

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

“India also ranks first in the Chainalysis Global Crypto Adoption Index for 2023, driven by a predominantly young and tech-savvy user base.”

Maradiya also emphasized the progress being made at the government level. He noted that the Indian government is increasingly recognizing the potential of blockchain technology, with multiple state governments initiating blockchain-based projects. He believes that further regulatory clarity will only enhance this progress.

The CIFDAQ Blueprint

Moving from the broader industry perspective, our conversation with Maradiya shifted to focus on his venture, CIFDAQ, a new-generation blockchain ecosystem that leverages artificial intelligence (AI) and machine learning (ML) to create a platform that's resilient against external hacking, fraud, and corruption. 

Interestingly, CIFDAQ has been self-funded to date, but Maradiya revealed that the company is now preparing for an upcoming funding round of Rs 40 crore. 

“A significant portion of these funds will be allocated towards continuous technological enhancements, ensuring that CIFDAQ remains at the forefront of innovation in the industry,” Maradiya added.

In addition, Maradiya shared that the company intends to raise a total of Rs 200 crore in phases over the next 12 months through equity dilution.

The following is an excerpt of the interview that further delves into CIFDAQ.

(Editorial Note: The answers in the following excerpt have been condensed for brevity. However, we have carefully preserved the original context and meaning of Maradiya's statements.)

Newzchain: What is CIFDAQ's current primary focus in terms of product development and market expansion?

Maradiya: Currently, CIFDAQ's primary focus in terms of product development revolves around launching a robust and secure blockchain ecosystem tailored for the Indian and Southeast Asian markets. In parallel, CIFDAQ is gearing up for market expansion strategies that will initially focus on establishing a strong presence within India's burgeoning blockchain and Web3 ecosystem. 

We aim to position CIFDAQ as a leader in facilitating secure digital transactions and fostering innovation across various sectors including finance, real estate, and supply chain management.

Furthermore, our market expansion efforts will extend to Southeast Asia, adapting our platform to local needs and regulations. The focus is on user-centric design and international compliance to ensure a trustworthy blockchain experience.

Our key product milestones include:

Q3 2024: Introducing our centralized exchange (CEX) and listing CIFD, our native token.Q4 2024: Launching Dex and DeFi products for decentralized trading and financial services.

Concurrent with these: Releasing MPC Wallet V 2.0 with enhanced security and functionality.

These initiatives aim to enhance our blockchain ecosystem and expand our market presence.

Looking ahead to 2025, our roadmap includes:

Q1: Launching an NFT marketplace for digital collectibles and art.

Q1: Introducing CIFDAQ Custodian for institutional clients and Launchpad for new blockchain projects.

Q2: Entering the GameFi sector to integrate blockchain with gaming.

Q3: Rolling out Layer 1 and Layer 2 blockchain solutions for scalable, efficient frameworks.

Newzchain: What role does the CIFD Coin play in your ecosystem, and how does it drive value creation?

Maradiya: CIFD Coin is our native cryptocurrency, crucial for value creation in our ecosystem. It serves as the primary medium of exchange, facilitating transactions and fee payments. We use it for staking, governance, and managing digital assets, including NFTs. CIFD Coin also rewards network contributors and AI data providers, incentivizing participation. 

Furthermore, coin holders can vote on platform decisions, ensuring community involvement in our ecosystem's evolution. And it's designed for cross-platform utility, enhancing its value beyond our ecosystem. 

CIFD Coin is actively traded on various exchanges, providing liquidity for users. These functions collectively promote decentralization, security, and transparency, making CIFD Coin vital to our ecosystem's growth and innovation.

Newzchain: Where do you see CIFDAQ in the next five years? What are the major milestones you aim to achieve within this period? 

Maradiya: In the next five years, CIFDAQ is poised to become one of India's leading blockchain ecosystem companies, driving global blockchain development with world-class products and services tailored to local ecosystems. 

Our initial focus for the first 24 months is on introducing and scaling our products, stabilizing our technology and operations, and securing licenses in at least one or two Southeast Asian countries. We plan to expand our operations throughout the region.

Beyond innovation, we're committed to positively impacting the economy and fostering market growth. We aim to ensure our stakeholders benefit from our success through regulatory compliance and ethical business practices that promote sustainability and long-term value creation.

[sahilcidfaq]

CIFDAQ Founder Himanshu Maradiya Challenges Web3 Brain Drain with India-Centric Approach

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

Harshajit Sarmah

India's Web3 landscape is thriving with new players coming in. However, this burgeoning sector finds itself at a critical crossroads. On one hand, India grapples with stringent regulatory measures that pose challenges for crypto and blockchain businesses. On the other, the country boasts a vibrant environment ripe with opportunities for exponential growth in the Web3 sector.

To gain a deeper understanding of this dynamic industry and also spotlight a key player in the ecosystem, we sat down with Himanshu Maradiya, Founder and Chairman of CIFDAQ. 

In this exclusive interview, Maradiya shares key insights on India's Web3 challenges and explains CIFDAQ's unique position within this ecosystem.

The Paradox of India's Web3 Landscape

According to KPMG, India boasts one of the world's largest Web3 ecosystems, with over 1,000 startups operating in this space. The country's enthusiasm for cryptocurrencies is equally impressive, with recent research indicating that India is home to an estimated 100 million crypto owners as of late 2023.

The vibrancy of India's Web3 scene is further evidenced by the proliferation of meetups, events, and gatherings across the country that serve as hotbeds for innovation, networking, and knowledge sharing. 

However, beneath this growth lies a concerning trend that threatens India's position in the global Web3 landscape. At nearly every industry gathering, many founders reveal they are relocating to Dubai or have already moved.

Entrepreneurs are increasingly seeking jurisdictions that offer welcoming environments, supportive ecosystems, and favorable regulatory frameworks. Dubai, in particular, has emerged as a prime destination, actively crafting rules and regulations designed to attract Web3 talent and businesses. 

The catalyst for this shift can be traced back to November 2021, when anticipation of high taxes and stringent cryptocurrency regulations in the proposed Crypto Bill began to take hold. Since then, industry executives estimate that over a hundred Indian entrepreneurs have relocated to Dubai and registered their businesses there. 

Additionally, reports suggest that following the introduction of a 1% Tax Deducted at Source (TDS) and a 30% tax on Virtual Digital Assets (VDAs), trading volumes on Indian exchanges have plummeted by a staggering 97%, with active users decreasing by 81%. 

Maradiya’s Take on India's Regulatory Approach

Despite the challenges faced by the Indian crypto industry, Maradiya offers an optimistic perspective on the country's regulatory landscape. 

“Crypto regulations in India are playing a significant role in shaping the blockchain and crypto industry,” emphasized Maradiya.

Furthermore, he stated that while these regulations are indeed stringent, they are designed to create a balanced framework that promotes innovation, security, and financial stability. He points out that this balance is achieved by incorporating crypto into the taxation framework and requiring registration of Reporting Entities (RE) with the Financial Intelligence Unit (FIU) under the Ministry of Finance, Government of India.

In light of this regulatory landscape, Maradiya revealed that CIFDAQ adopts a country-centric approach and plans to operate in India as a Registered Entity with the FIU under the Ministry of Finance.

When discussing the trend of Indian Web3 startups relocating to Dubai, Maradiya offered a balanced view. He recognized that the migration of startups to Dubai is primarily motivated by regulatory clarity, tax benefits, and a business-friendly environment.

Additionally, he noted that Dubai's well-defined regulations, low taxes, and strong support for Web3 technologies make it an attractive destination for startups seeking stability and growth opportunities. The vibrant international community and access to global markets in Dubai further enhance its appeal.

However, Maradiya was quick to highlight India's unique position and potential in the global Web3 landscape. He pointed out several key strengths that position India as a potential leader in this space. 

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

“India also ranks first in the Chainalysis Global Crypto Adoption Index for 2023, driven by a predominantly young and tech-savvy user base.”

Maradiya also emphasized the progress being made at the government level. He noted that the Indian government is increasingly recognizing the potential of blockchain technology, with multiple state governments initiating blockchain-based projects. He believes that further regulatory clarity will only enhance this progress.

The CIFDAQ Blueprint

Moving from the broader industry perspective, our conversation with Maradiya shifted to focus on his venture, CIFDAQ, a new-generation blockchain ecosystem that leverages artificial intelligence (AI) and machine learning (ML) to create a platform that's resilient against external hacking, fraud, and corruption. 

Interestingly, CIFDAQ has been self-funded to date, but Maradiya revealed that the company is now preparing for an upcoming funding round of Rs 40 crore. 

“A significant portion of these funds will be allocated towards continuous technological enhancements, ensuring that CIFDAQ remains at the forefront of innovation in the industry,” Maradiya added.

In addition, Maradiya shared that the company intends to raise a total of Rs 200 crore in phases over the next 12 months through equity dilution.

The following is an excerpt of the interview that further delves into CIFDAQ.

(Editorial Note: The answers in the following excerpt have been condensed for brevity. However, we have carefully preserved the original context and meaning of Maradiya's statements.)

Newzchain: What is CIFDAQ's current primary focus in terms of product development and market expansion?

Maradiya: Currently, CIFDAQ's primary focus in terms of product development revolves around launching a robust and secure blockchain ecosystem tailored for the Indian and Southeast Asian markets. In parallel, CIFDAQ is gearing up for market expansion strategies that will initially focus on establishing a strong presence within India's burgeoning blockchain and Web3 ecosystem. 

We aim to position CIFDAQ as a leader in facilitating secure digital transactions and fostering innovation across various sectors including finance, real estate, and supply chain management.

Furthermore, our market expansion efforts will extend to Southeast Asia, adapting our platform to local needs and regulations. The focus is on user-centric design and international compliance to ensure a trustworthy blockchain experience.

Our key product milestones include:

Q3 2024: Introducing our centralized exchange (CEX) and listing CIFD, our native token.Q4 2024: Launching Dex and DeFi products for decentralized trading and financial services.

Concurrent with these: Releasing MPC Wallet V 2.0 with enhanced security and functionality.

These initiatives aim to enhance our blockchain ecosystem and expand our market presence.

Looking ahead to 2025, our roadmap includes:

Q1: Launching an NFT marketplace for digital collectibles and art.

Q1: Introducing CIFDAQ Custodian for institutional clients and Launchpad for new blockchain projects.

Q2: Entering the GameFi sector to integrate blockchain with gaming.

Q3: Rolling out Layer 1 and Layer 2 blockchain solutions for scalable, efficient frameworks.

Newzchain: What role does the CIFD Coin play in your ecosystem, and how does it drive value creation?

Maradiya: CIFD Coin is our native cryptocurrency, crucial for value creation in our ecosystem. It serves as the primary medium of exchange, facilitating transactions and fee payments. We use it for staking, governance, and managing digital assets, including NFTs. CIFD Coin also rewards network contributors and AI data providers, incentivizing participation. 

Furthermore, coin holders can vote on platform decisions, ensuring community involvement in our ecosystem's evolution. And it's designed for cross-platform utility, enhancing its value beyond our ecosystem. 

CIFD Coin is actively traded on various exchanges, providing liquidity for users. These functions collectively promote decentralization, security, and transparency, making CIFD Coin vital to our ecosystem's growth and innovation.

Newzchain: Where do you see CIFDAQ in the next five years? What are the major milestones you aim to achieve within this period? 

Maradiya: In the next five years, CIFDAQ is poised to become one of India's leading blockchain ecosystem companies, driving global blockchain development with world-class products and services tailored to local ecosystems. 

Our initial focus for the first 24 months is on introducing and scaling our products, stabilizing our technology and operations, and securing licenses in at least one or two Southeast Asian countries. We plan to expand our operations throughout the region.

Beyond innovation, we're committed to positively impacting the economy and fostering market growth. We aim to ensure our stakeholders benefit from our success through regulatory compliance and ethical business practices that promote sustainability and long-term value creation.

Edited by Harshajit Sarmah

[tradingculture]

CIFDAQ Founder Himanshu Maradiya Challenges Web3 Brain Drain with India-Centric Approach

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

India's Web3 landscape is thriving with new players coming in. However, this burgeoning sector finds itself at a critical crossroads. On one hand, India grapples with stringent regulatory measures that pose challenges for crypto and blockchain businesses. On the other, the country boasts a vibrant environment ripe with opportunities for exponential growth in the Web3 sector.

To gain a deeper understanding of this dynamic industry and also spotlight a key player in the ecosystem, we sat down with Himanshu Maradiya, Founder and Chairman of CIFDAQ. 

In this exclusive interview, Maradiya shares key insights on India's Web3 challenges and explains CIFDAQ's unique position within this ecosystem.

The Paradox of India's Web3 Landscape

According to KPMG, India boasts one of the world's largest Web3 ecosystems, with over 1,000 startups operating in this space. The country's enthusiasm for cryptocurrencies is equally impressive, with recent research indicating that India is home to an estimated 100 million crypto owners as of late 2023.

The vibrancy of India's Web3 scene is further evidenced by the proliferation of meetups, events, and gatherings across the country that serve as hotbeds for innovation, networking, and knowledge sharing. 

However, beneath this growth lies a concerning trend that threatens India's position in the global Web3 landscape. At nearly every industry gathering, many founders reveal they are relocating to Dubai or have already moved.

Entrepreneurs are increasingly seeking jurisdictions that offer welcoming environments, supportive ecosystems, and favorable regulatory frameworks. Dubai, in particular, has emerged as a prime destination, actively crafting rules and regulations designed to attract Web3 talent and businesses. 

The catalyst for this shift can be traced back to November 2021, when anticipation of high taxes and stringent cryptocurrency regulations in the proposed Crypto Bill began to take hold. Since then, industry executives estimate that over a hundred Indian entrepreneurs have relocated to Dubai and registered their businesses there. 

Additionally, reports suggest that following the introduction of a 1% Tax Deducted at Source (TDS) and a 30% tax on Virtual Digital Assets (VDAs), trading volumes on Indian exchanges have plummeted by a staggering 97%, with active users decreasing by 81%. 

Maradiya’s Take on India's Regulatory Approach

Despite the challenges faced by the Indian crypto industry, Maradiya offers an optimistic perspective on the country's regulatory landscape. 

“Crypto regulations in India are playing a significant role in shaping the blockchain and crypto industry,” emphasized Maradiya.

Furthermore, he stated that while these regulations are indeed stringent, they are designed to create a balanced framework that promotes innovation, security, and financial stability. He points out that this balance is achieved by incorporating crypto into the taxation framework and requiring registration of Reporting Entities (RE) with the Financial Intelligence Unit (FIU) under the Ministry of Finance, Government of India.

In light of this regulatory landscape, Maradiya revealed that CIFDAQ adopts a country-centric approach and plans to operate in India as a Registered Entity with the FIU under the Ministry of Finance.

When discussing the trend of Indian Web3 startups relocating to Dubai, Maradiya offered a balanced view. He recognized that the migration of startups to Dubai is primarily motivated by regulatory clarity, tax benefits, and a business-friendly environment.

Additionally, he noted that Dubai's well-defined regulations, low taxes, and strong support for Web3 technologies make it an attractive destination for startups seeking stability and growth opportunities. The vibrant international community and access to global markets in Dubai further enhance its appeal.

However, Maradiya was quick to highlight India's unique position and potential in the global Web3 landscape. He pointed out several key strengths that position India as a potential leader in this space. 

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

“India also ranks first in the Chainalysis Global Crypto Adoption Index for 2023, driven by a predominantly young and tech-savvy user base.”

Maradiya also emphasized the progress being made at the government level. He noted that the Indian government is increasingly recognizing the potential of blockchain technology, with multiple state governments initiating blockchain-based projects. He believes that further regulatory clarity will only enhance this progress.

The CIFDAQ Blueprint

Moving from the broader industry perspective, our conversation with Maradiya shifted to focus on his venture, CIFDAQ, a new-generation blockchain ecosystem that leverages artificial intelligence (AI) and machine learning (ML) to create a platform that's resilient against external hacking, fraud, and corruption. 

Interestingly, CIFDAQ has been self-funded to date, but Maradiya revealed that the company is now preparing for an upcoming funding round of Rs 40 crore. 

“A significant portion of these funds will be allocated towards continuous technological enhancements, ensuring that CIFDAQ remains at the forefront of innovation in the industry,” Maradiya added.

In addition, Maradiya shared that the company intends to raise a total of Rs 200 crore in phases over the next 12 months through equity dilution.

The following is an excerpt of the interview that further delves into CIFDAQ.

(Editorial Note: The answers in the following excerpt have been condensed for brevity. However, we have carefully preserved the original context and meaning of Maradiya's statements.)

Newzchain: What is CIFDAQ's current primary focus in terms of product development and market expansion?

Maradiya: Currently, CIFDAQ's primary focus in terms of product development revolves around launching a robust and secure blockchain ecosystem tailored for the Indian and Southeast Asian markets. In parallel, CIFDAQ is gearing up for market expansion strategies that will initially focus on establishing a strong presence within India's burgeoning blockchain and Web3 ecosystem. 

We aim to position CIFDAQ as a leader in facilitating secure digital transactions and fostering innovation across various sectors including finance, real estate, and supply chain management.

Furthermore, our market expansion efforts will extend to Southeast Asia, adapting our platform to local needs and regulations. The focus is on user-centric design and international compliance to ensure a trustworthy blockchain experience.

Our key product milestones include:

Q3 2024: Introducing our centralized exchange (CEX) and listing CIFD, our native token.Q4 2024: Launching Dex and DeFi products for decentralized trading and financial services.

Concurrent with these: Releasing MPC Wallet V 2.0 with enhanced security and functionality.

These initiatives aim to enhance our blockchain ecosystem and expand our market presence.

Looking ahead to 2025, our roadmap includes:

Q1: Launching an NFT marketplace for digital collectibles and art.

Q1: Introducing CIFDAQ Custodian for institutional clients and Launchpad for new blockchain projects.

Q2: Entering the GameFi sector to integrate blockchain with gaming.

Q3: Rolling out Layer 1 and Layer 2 blockchain solutions for scalable, efficient frameworks.

Newzchain: What role does the CIFD Coin play in your ecosystem, and how does it drive value creation?

Maradiya: CIFD Coin is our native cryptocurrency, crucial for value creation in our ecosystem. It serves as the primary medium of exchange, facilitating transactions and fee payments. We use it for staking, governance, and managing digital assets, including NFTs. CIFD Coin also rewards network contributors and AI data providers, incentivizing participation. 

Furthermore, coin holders can vote on platform decisions, ensuring community involvement in our ecosystem's evolution. And it's designed for cross-platform utility, enhancing its value beyond our ecosystem. 

CIFD Coin is actively traded on various exchanges, providing liquidity for users. These functions collectively promote decentralization, security, and transparency, making CIFD Coin vital to our ecosystem's growth and innovation.

Newzchain: Where do you see CIFDAQ in the next five years? What are the major milestones you aim to achieve within this period? 

Maradiya: In the next five years, CIFDAQ is poised to become one of India's leading blockchain ecosystem companies, driving global blockchain development with world-class products and services tailored to local ecosystems. 

Our initial focus for the first 24 months is on introducing and scaling our products, stabilizing our technology and operations, and securing licenses in at least one or two Southeast Asian countries. We plan to expand our operations throughout the region.

Beyond innovation, we're committed to positively impacting the economy and fostering market growth. We aim to ensure our stakeholders benefit from our success through regulatory compliance and ethical business practices that promote sustainability and long-term value creation.

[lanabriggs]

Payment Trends. What to Expect in the Next Decade

The payments industry is evolving at a rapid pace, shaped by advancements in technology, shifts in consumer behavior, and changes in regulatory landscapes. Over the next decade, several trends are poised to redefine how businesses and individuals transact.

1. Rise of Real-Time Payments

Real-time payment systems are gaining traction globally. They enable instantaneous money transfers, providing speed and convenience to consumers and businesses alike. Countries such as India, with its Unified Payments Interface (UPI), have already demonstrated the transformative potential of such systems. By 2030, real-time payments are expected to become the standard across both developed and emerging markets.

2. Biometric Authentication

Biometrics, such as fingerprint and facial recognition, are becoming integral to secure payment processes. As data breaches and fraud risks grow, businesses are embracing these technologies to enhance security and user experience. In the future, biometric authentication could replace traditional PINs and passwords entirely.

3. Cryptocurrency Integration

While cryptocurrencies have faced regulatory scrutiny, their underlying blockchain technology holds promise for faster and more transparent transactions. By the end of the decade, cryptocurrencies like Bitcoin and Ethereum might coexist alongside traditional currencies in mainstream payment systems. Governments’ exploration of Central Bank Digital Currencies (CBDCs) will also play a significant role in shaping this space.

4. Voice-Activated Payments

Voice assistants like Alexa and Google Assistant are becoming more integrated into daily life. Over the next decade, voice-activated payments could become a common way to shop online, pay bills, or transfer funds, offering unparalleled convenience.

5. Sustainable Payment Solutions

As environmental concerns grow, the payments industry will shift toward eco-friendly solutions. Digital wallets, paperless billing, and environmentally conscious payment networks will cater to consumers increasingly mindful of sustainability.

6. Expanded Use of Artificial Intelligence

AI is already being used for fraud detection, personalized recommendations, and process automation. In the coming years, AI will play a larger role in optimizing payment experiences, enabling smarter financial decisions, and reducing transaction costs.

7. Growth of Embedded Payments

Embedded payments, integrated seamlessly into apps and platforms, will grow significantly. For example, ride-sharing apps or food delivery platforms already include payment systems. This trend will expand to other sectors, simplifying transactions and reducing friction for consumers.

Eric Hannelius, a fintech thought leader, views these trends as opportunities for businesses to innovate and remain competitive. “Payment systems are no longer just about processing transactions. They’re about creating value through enhanced user experiences and building trust through security,” Eric Hannelius explains.

He also highlights the role of collaboration in shaping the future. “Fintech companies need to work closely with regulators, financial institutions, and technology providers to ensure that innovation aligns with user needs and compliance requirements.”

Practical Implications for Businesses:

Adopt Digital Wallets: Companies should ensure compatibility with digital wallets like Apple Pay and Google Pay to cater to tech-savvy consumers.

Invest in Security: Enhanced security measures, including biometrics and tokenization, will become essential for consumer trust.

Stay Agile: Businesses must monitor trends such as cryptocurrency and embedded payments to remain adaptable in a rapidly changing landscape.

The payments industry is on the brink of significant transformation. By embracing these trends and leveraging innovative technologies, businesses can provide customers with seamless, secure, and sustainable payment solutions.

The future of payments will be shaped by those who can blend innovation with a deep understanding of consumer and market needs. By staying ahead of these trends, businesses and fintech companies can ensure their place in the evolving financial ecosystem.

[strangetreeharmony]

CIFDAQ Founder Himanshu Maradiya Challenges Web3 Brain Drain with India-Centric Approach

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

India's Web3 landscape is thriving with new players coming in. However, this burgeoning sector finds itself at a critical crossroads. On one hand, India grapples with stringent regulatory measures that pose challenges for crypto and blockchain businesses. On the other, the country boasts a vibrant environment ripe with opportunities for exponential growth in the Web3 sector.

To gain a deeper understanding of this dynamic industry and also spotlight a key player in the ecosystem, we sat down with Himanshu Maradiya, Founder and Chairman of CIFDAQ.

In this exclusive interview, Maradiya shares key insights on India's Web3 challenges and explains CIFDAQ's unique position within this ecosystem.

The Paradox of India's Web3 Landscape According to KPMG, India boasts one of the world's largest Web3 ecosystems, with over 1,000 startups operating in this space. The country's enthusiasm for cryptocurrencies is equally impressive, with recent research indicating that India is home to an estimated 100 million crypto owners as of late 2023.

The vibrancy of India's Web3 scene is further evidenced by the proliferation of meetups, events, and gatherings across the country that serve as hotbeds for innovation, networking, and knowledge sharing.

However, beneath this growth lies a concerning trend that threatens India's position in the global Web3 landscape. At nearly every industry gathering, many founders reveal they are relocating to Dubai or have already moved.

Entrepreneurs are increasingly seeking jurisdictions that offer welcoming environments, supportive ecosystems, and favorable regulatory frameworks. Dubai, in particular, has emerged as a prime destination, actively crafting rules and regulations designed to attract Web3 talent and businesses.

The catalyst for this shift can be traced back to November 2021, when anticipation of high taxes and stringent cryptocurrency regulations in the proposed Crypto Bill began to take hold. Since then, industry executives estimate that over a hundred Indian entrepreneurs have relocated to Dubai and registered their businesses there.

Additionally, reports suggest that following the introduction of a 1% Tax Deducted at Source (TDS) and a 30% tax on Virtual Digital Assets (VDAs), trading volumes on Indian exchanges have plummeted by a staggering 97%, with active users decreasing by 81%.

Maradiya’s Take on India's Regulatory Approach Despite the challenges faced by the Indian crypto industry, Maradiya offers an optimistic perspective on the country's regulatory landscape.

“Crypto regulations in India are playing a significant role in shaping the blockchain and crypto industry,” emphasized Maradiya.

Furthermore, he stated that while these regulations are indeed stringent, they are designed to create a balanced framework that promotes innovation, security, and financial stability. He points out that this balance is achieved by incorporating crypto into the taxation framework and requiring registration of Reporting Entities (RE) with the Financial Intelligence Unit (FIU) under the Ministry of Finance, Government of India.

In light of this regulatory landscape, Maradiya revealed that CIFDAQ adopts a country-centric approach and plans to operate in India as a Registered Entity with the FIU under the Ministry of Finance.

When discussing the trend of Indian Web3 startups relocating to Dubai, Maradiya offered a balanced view. He recognized that the migration of startups to Dubai is primarily motivated by regulatory clarity, tax benefits, and a business-friendly environment.

Additionally, he noted that Dubai's well-defined regulations, low taxes, and strong support for Web3 technologies make it an attractive destination for startups seeking stability and growth opportunities. The vibrant international community and access to global markets in Dubai further enhance its appeal.

However, Maradiya was quick to highlight India's unique position and potential in the global Web3 landscape. He pointed out several key strengths that position India as a potential leader in this space.

“India boasts a strong foundation in the Web3 sector, with a rapidly growing developer community that has expanded from 3% of the global pool in 2018 to 12% in 2023. The country's ecosystem is diverse and dynamic, home to over 1,000 Web3 startups,” said Maradiya.

“India also ranks first in the Chainalysis Global Crypto Adoption Index for 2023, driven by a predominantly young and tech-savvy user base.”

Maradiya also emphasized the progress being made at the government level. He noted that the Indian government is increasingly recognizing the potential of blockchain technology, with multiple state governments initiating blockchain-based projects. He believes that further regulatory clarity will only enhance this progress.

The CIFDAQ Blueprint Moving from the broader industry perspective, our conversation with Maradiya shifted to focus on his venture, CIFDAQ, a new-generation blockchain ecosystem that leverages artificial intelligence (AI) and machine learning (ML) to create a platform that's resilient against external hacking, fraud, and corruption.

Interestingly, CIFDAQ has been self-funded to date, but Maradiya revealed that the company is now preparing for an upcoming funding round of Rs 40 crore.

“A significant portion of these funds will be allocated towards continuous technological enhancements, ensuring that CIFDAQ remains at the forefront of innovation in the industry,” Maradiya added.

In addition, Maradiya shared that the company intends to raise a total of Rs 200 crore in phases over the next 12 months through equity dilution.

The following is an excerpt of the interview that further delves into CIFDAQ.

(Editorial Note: The answers in the following excerpt have been condensed for brevity. However, we have carefully preserved the original context and meaning of Maradiya's statements.)

Newzchain: What is CIFDAQ's current primary focus in terms of product development and market expansion?

Maradiya: Currently, CIFDAQ's primary focus in terms of product development revolves around launching a robust and secure blockchain ecosystem tailored for the Indian and Southeast Asian markets. In parallel, CIFDAQ is gearing up for market expansion strategies that will initially focus on establishing a strong presence within India's burgeoning blockchain and Web3 ecosystem.

We aim to position CIFDAQ as a leader in facilitating secure digital transactions and fostering innovation across various sectors including finance, real estate, and supply chain management.

Furthermore, our market expansion efforts will extend to Southeast Asia, adapting our platform to local needs and regulations. The focus is on user-centric design and international compliance to ensure a trustworthy blockchain experience.

Our key product milestones include:

Q3 2024: Introducing our centralized exchange (CEX) and listing CIFD, our native token.Q4 2024: Launching Dex and DeFi products for decentralized trading and financial services. Concurrent with these: Releasing MPC Wallet V 2.0 with enhanced security and functionality. These initiatives aim to enhance our blockchain ecosystem and expand our market presence.

Looking ahead to 2025, our roadmap includes:

Q1: Launching an NFT marketplace for digital collectibles and art. Q1: Introducing CIFDAQ Custodian for institutional clients and Launchpad for new blockchain projects. Q2: Entering the GameFi sector to integrate blockchain with gaming. Q3: Rolling out Layer 1 and Layer 2 blockchain solutions for scalable, efficient frameworks. Newzchain: What role does the CIFD Coin play in your ecosystem, and how does it drive value creation?

Maradiya: CIFD Coin is our native cryptocurrency, crucial for value creation in our ecosystem. It serves as the primary medium of exchange, facilitating transactions and fee payments. We use it for staking, governance, and managing digital assets, including NFTs. CIFD Coin also rewards network contributors and AI data providers, incentivizing participation.

Furthermore, coin holders can vote on platform decisions, ensuring community involvement in our ecosystem's evolution. And it's designed for cross-platform utility, enhancing its value beyond our ecosystem.

CIFD Coin is actively traded on various exchanges, providing liquidity for users. These functions collectively promote decentralization, security, and transparency, making CIFD Coin vital to our ecosystem's growth and innovation.

Newzchain: Where do you see CIFDAQ in the next five years? What are the major milestones you aim to achieve within this period?

Maradiya: In the next five years, CIFDAQ is poised to become one of India's leading blockchain ecosystem companies, driving global blockchain development with world-class products and services tailored to local ecosystems.

Our initial focus for the first 24 months is on introducing and scaling our products, stabilizing our technology and operations, and securing licenses in at least one or two Southeast Asian countries. We plan to expand our operations throughout the region.

Beyond innovation, we're committed to positively impacting the economy and fostering market growth. We aim to ensure our stakeholders benefit from our success through regulatory compliance and ethical business practices that promote sustainability and long-term value creation.#CIFDAQ #CRYPTO #BLOCKCHAIN #WEB3

www.cifdaq.com

[bestreportnews]

HDFC Bank Hits Record High Amid Bullish Market Momentum

In 2024, shares of HDFC Bank have experienced an amazing ride, setting records and creating waves in the Indian stock market. The stock rose 1.3% on the day to a record high of ₹1,836.1 as of November 28. Investor excitement has been bolstered by this milestone, which has also sparked speculation about the future direction of HDFC Bank share prices. Given that analysts anticipate significant growth, let's examine the causes of this upswing and the primary HDFC Bank price goals.

Read More: One Nation One Election Bill: A Controversial Move

Why Are HDFC Bank Shares Surging in 2024? HDFC Bank, India's largest private lender, has delivered strong results over the past few quarters, contributing to the rising momentum in HDFC Bank shares. The bank's financial performance and its leadership position in the banking sector have made it an attractive investment for both retail and institutional investors. Not only is the bank expanding its market share, but it is also maintaining robust growth in a competitive landscape.

Moreover, HDFC Bank’s market capitalization crossed ₹14 lakh crore for the first time, which signifies investor confidence in the company’s growth prospects. As a result, HDFC Bank share prices have gained 8% in 2024 so far, and the stock continues to hit new highs.

What Do the Charts Indicate About HDFC Bank Stock? While HDFC Bank stock is experiencing a remarkable surge, analysts are keeping a close eye on the technical indicators. The Relative Strength Index (RSI) stands at 68, which is approaching the overbought zone. An RSI above 70 signals that the stock might be overbought, suggesting a potential correction could be on the horizon. However, the stock is still trading well above its key moving averages, indicating strong bullish sentiment in the market.

Explore other popular Posts:

Blog | News | Entertainment | Education | Sports |

Technology | Cryptocurrency | Stock | Home | Sitemap 

[cryptolegal]

Understanding the Crypto Exchange Licensing Process in India

Understanding the Crypto Exchange Licensing Process in India Cryptocurrency exchange plays an important role in the digital financial landscape of India. However, the legal framework for this landscape keeps changing, creating uncertainty among investors. It continues evolving as there has been a rise in cryptocurrencies, with people investing in digital currencies such as Bitcoin and Ethereum. Hence, regulatory authorities in India are continuously working to establish clear guidelines and legal frameworks. Let's have a detailed look at current crypto regulations.

Current Crypto Regulations

The crypto regulatory framework has always been uncertain in India, especially when the Supreme Court put a ban on crypto exchanges in 2018. The Supreme Court of India removed the ban in 2020 but still couldn't establish strict regulations. However, we have a few financial regulations, such as anti-money laundering (AML) and Know Your Customer (KYC). Unfortunately, they are not formal regulations, creating a room for ambiguity.

The government plans to develop a proper draft bill that can provide clarification on all crypto operations. Meanwhile, users must get crypto exchange licensing for security reasons. So, let's look at a few licensing requirements.

Licensing requirements

Anti-Money Laundering: Anti-Money Laundering (AML) prevents financial fraud that might happen during crypto exchanges. Its systems work to detect money laundering.

Know Your Customer: Dealing with crypto exchange requires proper identification. Hence, implementation of KYC is required. KYC regulations ensure protection from illegal activities.

Taxation: In 2022, the government of India imposed a 30% tax on crypto profits and 1% Tax Deducted at Source (TDS) on all crypto exchanges. So, you must adhere to all these tax compliances if you are a trader or investor.

What is the future of crypto regulations?

The Indian government plans to release a cryptocurrency bill after realizing the popularity and growth in the crypto industry. A bill will ensure minimal fraudulent activities and more supervised exchanges. Also, it will classify the digital commodities under Securities and Exchange Board of India (SEBI) regulations. So, we can expect changes in current crypto exchanges.

Licensing will be mandatory if you wish to enter the crypto world. So, applications will be compulsory to regulate all the operations.

You will be asked to maintain a certain capital, like the banking system. Your future funds will be protected as a trader or investor.

Regulatory authorities will frequently audit crypto users to ensure that exchanges are done under all the compliances.

Challenges that might come in future crypto regulations

One challenge that many people might encounter is obtaining clarity about crypto regulations. Even today, many businesses are exchanging digital assets without proper understanding of crypto licensing. It creates security issues leading to illegal activities. These issues can be solved with a robust security system like licensing.

Conclusion

It's been years since cryptocurrencies are operating in India. However, it's still in the early stages with no clarity among the crypto users. Fortunately, the government is working to develop a comprehensive regulatory system. Meanwhile, you must get a crypto exchange license and comply with AML and KYC to protect your funds. Much needed regulatory guidelines should be necessary to enhance security.

[biblenewsprophecy]

Russia, USA, & Bitcoin

On July 30, 2024, Russian lawmakers passed a bill that will allow businesses to use cryptocurrencies, like Bitcoin, to skirt Western sanctions imposed after Russia's Special Military Operation into Ukraine. This is to go into force in September 2024. This is hoped to help with trade between Russia, China, India, the United Arab Emirates, and others. What are several advantages to Russia in doing so? Could there be "unintentional consequences" in dealing with Bitcoin? Is Bitcoin "as good as gold" or silver? What does the Bible teach about gold? Does the Bible allow for the '666' power to use unregulated Bitcoin? Has a bill been introduced in the US Congress for its Treasury to purchase 1 million Bitcoin? Has Donald Trump made statements about the USA stockpiling Bitcoin should he again become President of the United States? Does the Bible warn against debt accumulation, show that the USA dollar will one day be worthless, and prophesy that the strongest military on the earth will be conquered? Should you rely on any nation, gold, or cryptocurrency? What should Christians rely on? Dr. Thiel and Steve Dupuie address these issues.

A written article of related interest is available titled 'Reuters: Russia to allow crypto payments in international trade to counter sanctions; Bloomberg: Trump Likes the Idea of a Federal Bitcoin Reserve’

Youtube video link: Russia, USA, & Bitcoin

Reuters: Russia to allow crypto payments in international trade to counter sanctions; Bloomberg: Trump Likes the Idea of a Federal Bitcoin Reserve

COGwriter

Reuters reported the following:

Russia to allow crypto payments in international trade to counter sanctions

MOSCOW, July 30 (Reuters) – Russian lawmakers passed a bill on Tuesday that will allow businesses to use crypto currencies in international trade, as part of efforts to skirt Western sanctions imposed after Russia’s invasion of Ukraine.

The law is expected to go into force in September, and Russian central bank Governor Elvira Nabiullina, one of the backers of the new law, said the first transactions in cryptocurrencies will take place before the end of the year.

Russia has faced significant delays in international payments with major trading partners such as China, India and the United Arab Emirates after banks in those countries, under pressure from Western regulators, became more cautious.

“We are taking a historic decision in the financial sphere,” the head of the Duma lower house of parliament, Anatoly Aksakov, told lawmakers. https://www.reuters.com/technology/russia-launch-international-payments-crypto-before-end-2024-2024-07-30/

Here is some more about that:

Russia Legalizes Bitcoin And Crypto for International Trade To Bypass Sanctions

In a significant legislative move, Russian lawmakers have passed a bill permitting businesses to use Bitcoin and other cryptocurrencies in international trade, according to a report by Retuers. This development is part of Russia’s strategy to circumvent Western sanctions imposed following the invasion of Ukraine. The new law, expected to take effect in September, aims to address delays in international payments, particularly with key trading partners like China, India, and the UAE. …

Despite efforts to shift to trading partners’ currencies and develop an alternative BRICS payment system, many transactions still rely on dollars and euros via the SWIFT system, risking secondary sanctions. Nabiullina emphasized that these sanctions have complicated import payments, extending supply chains and increasing costs.

This decision by Russian lawmakers aims to mitigate the economic challenges posed by sanctions and ensure smoother international trade operations. 07/30/24 https://bitcoinmagazine.com/business/russia-legalizes-bitcoin-and-crypto-for-international-trade-to-bypass-sanctions

While the BRICS nations may or may not end up with their own currency, Bitcoin is something that many of them are willing to deal in.

This helps Russia in many ways as 1) It has accumulated more Indian rupees than it has reasons to spend, 2) bypasses the USA dollar, and 3) gives Russia a lot more flexibility in buying from non-BRICS aligned nations as well.

Plus, Russia likely realizes that anything it can do to bypass the USA dollar hurts the USA which is trying to hurt Russia with its sanctions policies.

I have long warned of “unintended consequences” of USA sanctions policies against Russia.

Six years ago, we put out the following video on our Bible News Prophecy YouTube channel:

15:19

US Sanctions and Tariffs leading to New World Order?

Russian Prime Minister Dmitry Medvedev said new US sanctions would be a declaration of economic war. Iran, North Korea, China, Europe, and Turkey are also upset about USA sanctions and tariffs. A Turk asserted “Somebody must find a solution and stop the USA.” The BRICS nations see US sanctions and tariffs as helpful to their objectives to trade without the USA. Are “unintended consequences” of USA policies threatening the current Anglo-American world order and leading to a New World Order? What has ‘Lord’ Jacob Rothschild and Russian President Vladimir Putin stated? Does Bible prophecy show that a confederation of Turks, Arabs, and Europeans pose a real threat to the USA and UK? Is the final time of the Gentiles coming? Will it be worse than people imagine? Dr. Thiel addresses these issues and more.

Here is a link to our video: US Sanctions and Tariffs leading to New World Order?

As far as cryptocurrencies go, ZeroHedge posted the following in 2022:

The Bitcoin is ‘as-good-as-gold’ myth is over

November 17, 2022

When you invest in gold or buy silver coins … you are choosing to invest in an asset that has no counterparty risk.

Sadly those who have been holding their bitcoin on the crypto exchange FTX, have not experienced the same level of reassurance and service from the exchange’s management.

This time last year, cryptocurrency enthusiasts were still touting “Crypto as the new gold”– crypto touted as having the same ‘safe’ attributes as gold.

The main attribute is that it is a currency that government doesn’t control. Also, it is without counterparty risk. The latest debacle has once more proved this is not always the case for cryptocurrencies.

The news that the crypto exchange FTX was filing for bankruptcy on November 5 sent Bitcoin plunging down a further 25%.

This is on top of the more than 60% Bitcoin has already declined since its November 2021 peak. …

The FTX collapse has brought to light that the CEO, Sam Bankman-Fried, had authorized billions of dollars worth of customer assets to be lent to its affiliated trading firm Alameda Research to fund risky bets.

According to news reports Alameda Research owes FTX upwards of US$10 billion. This is more than half of its US$16 billion in customer assets!

The bankruptcy case is likely to take years to unravel. There could be more than one million creditors, and more than 100 other related corporate entities involved.

Everyone who thought they owned Bitcoin held by FTX became an unsecured bankruptcy creditor. These are the ones who must now rely upon some Court to confirm just how much, or any Bitcoin they will receive. …

Only time will tell if the timing of the test (on the heels of the FTX collapse) is simply ‘bad timing’ or an omen of a system building in even more risk. Investing in physical gold and silver are still the tried-and-true alternative!  https://www.zerohedge.com/news/2022-11-17/bitcoin-good-gold-myth-over

The reason crypto can never replace gold lies in physics: Gold cannot be destroyed

Everything else can. Computers. Exchanges. Mining Pools. Wallets. Powergrids. Internets. Nations. You name it. If you blew up the planet earth, the gold atoms would still be there.

Unlike anything else you can invest or store money in, gold doesn’t rely on any external force for this to continue to be true over time. It is sort of like a battery with no expiration date.

Gold exists as atomic number 79 on the periodic table. It is chemically inert and does not interact with oxygen. It is the only element with properties that make it completely immune to the forces of entropy. The only way to destroy it would be to fire it into the sun, or somehow put it in the middle of an equivalent fusion reaction that took the atoms apart at a subatomic level. (Stanczyk A. A Gold Guys View of Crypto, Bitcoin, and Blockchain. Medium.com, December 10, 2017 https://medium.com/@alex.stanczyk/a-gold-guys-view-of-crypto-bitcoin-and-blockchain-26e42eeab6b7)

Yes, gold and silver have been safer than being with FTX.

Cryptocurrencies, like Bitcoin, have never been backed by anything other than the desire of many to use it to trade or speculate with. (Note: that although currencies like the USA dollar were once backed by gold, currently it, and nearly all currencies of the world, are backed by nothing either–so in that respect are not much different than cryptocurrencies.)

As long time reader of this COGwriter Church of God News page are aware, I never bought into the myth that Bitcoin was “as good as gold” and have long warned about it–here is a link to something posted here over 8 years ago: Bitcoin seller ‘goes dark’–Bitcoins are not the answer.

Yet, for nations under sanctions such as Russia, Iran, and North Korea, they have different needs and interests which cryptocurrencies may assist.

It remains my view that once governments get involved enough with their own digital currencies, steps to eliminate Bitcoin will take place.

As far as governments being involved, former US President and Republican party candidate Donald Trump has brought it up.  Notice the following:

Trump Likes the Idea of a Federal Bitcoin Reserve. Don’t Laugh.

The idea of a government fund invested in cryptocurrency may sound foolish, but there are reasons for the US Treasury to consider adding Bitcoin to its portfolio.

July 31, 2024

Which financial assets a central bank should buy and sell is hardly a novel question. Historically, the US Federal Reserve has focused on shorter-term Treasury securities, but quantitative easing had the Fed buying mortgage securities and quality commercial paper in significant quantities. More generally, central banks often hold gold and foreign currencies. https://www.bloomberg.com/opinion/articles/2024-07-31/trump-likes-the-idea-of-a-federal-bitcoin-reserve-don-t-laugh

‘Absolute Game Changer’—Congress Introduces Radical Bitcoin Bill As Trump Primes Price For A $100 Trillion Surge To Replace Gold

The bitcoin price has climbed almost 20% since Trump was revealed to be the headline speaker at the Bitcoin 2024 conference in Nashville, Tennessee, with billionaire investor Mark Cuban issuing a “crazy” bitcoin price prediction.

Now, after Trump promised to create a “strategic national bitcoin reserve” and predicted bitcoin could eclipse gold’s $16 trillion market capitalization, U.S. senator Cynthia Lummis (R-WY) has introduced a bill to direct the U.S. Treasury to purchase 1 million bitcoins worth almost $70 billion—while MicroStrategy’s Michael Saylor has upped his huge bitcoin price prediction. …

“If I am elected, it will be the policy of my administration, United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future, we’ll keep 100%,” Trump said during his Saturday speech at Bitcoin 2024. “This will serve, in effect, as the core of the strategic national bitcoin stockpile.” https://www.forbes.com/sites/digital-assets/2024/07/28/absolute-game-changer-congress-introduces-radical-bitcoin-bill-as-trump-primes-price-for-a-100-trillion-surge-to-replace-gold/

The Bible teaches that the coming Beast power will control buying and selling (Revelation 13:16-18)–hence the Bible makes no provision for something like Bitcoin being able to operate like it has.

A couple of years ago, the European Union has stated that it will be the “sheriff” of Bitcoin. Related to that, the Continuing Church of God (CCOG) put out the following video on our Bible News Prophecy YouTube channel:

9:03

EU to be ‘Sheriff’ of BitCoin & Digital Currencies

Will Bitcoin remain unregulated? The European Union does not think it should be and it released a paper titled “Proposal for EU Regulation on Markets in Crypto-Assets.” Christine Lagarde, president of the European Central Bank, earlier endorsed EU regulation of crypto and digital currencies. A Belgian declared that the EU was the “new Sheriff in town” to deal with the “wild west” of Bitcoin, blockchain, and other cryptocurrencies. The European Union now also has the European Public Prosecutor’s Office in operation, mainly to deal with financial matters? Will the Europeans end up controlling buying and selling associated with 666 in Revelation 13:16-18? Is Europe taking preliminary steps to do so now? Dr. Thiel address these issues.

Here is a link to our video: EU to be ‘Sheriff’ of BitCoin & Digital Currencies.

As far as gold goes, it is mentioned 453 times in the NKJV Protestant translation of the Bible and 464 times in the Roman Catholic Douay-Rheims Bible–hence it is something that the Bible refers to. Furthermore, gold is prophesied to have worth into the time of the Great Tribulation (cf. Revelation 18:12,16), but that will not last either. For more on gold and prophecy go, check out the article: The Plain Truth About Gold in Prophecy. How Should a Christian View Gold?

As far Bitcoin itself goes, unless adopted and controlled by the Beast, it will become worthless.

The time is also coming when the USA dollar will be worthless. And yes, the Bible tells that for a time gold will be worthless, but that does not happen to gold until years after the demise of the US dollar. But placing too much confidence in gold, currencies, or alternatives like Bitcoin will not truly save anyone (cf. 1 Peter 1:7). Yet, true repentance and turning to the Jesus of the Bible can.

UPDATE 08/04/24: We just uploaded the following related video:

14:59

Russia, USA, & Bitcoin

On July 30, 2024, Russian lawmakers passed a bill that will allow businesses to use cryptocurrencies, like Bitcoin, to skirt Western sanctions imposed after Russia’s Special Military Operation into Ukraine. This is to come to force in September 2024. This is hoped to help with trade between Russia, China, India, the United Arab Emirates, and others. What are several advantages to Russia in doing so? Could there be “unintentional consequences” in dealing with Bitcoin? Is Bitcoin “as good as good” or silver? What does the Bible teach about gold? Does the Bible allow for the ‘666’ power to use unregulated Bitcoin? Was a bill been introduced in the US Congress for its Treasury to purchase 1 million Bitcoin? Has Donald Trump made statements about the USA stockpiling Bitcoin should he again become President of the United States? Does the Bible warn against debt accumulation, show that the USA dollar will one day be worthless, and prophesy that the strongest military on the earth will be conquered? Should you rely on any nation, gold, or cryptocurrency? What should Christians rely on? Dr. Thiel and Steve Dupuie address these issues.

Here is a link to our video: Russia, USA, & Bitcoin.

Although the USA is not likely to repent nationally to prevent its prophesied demise (c. Habakkuk 2:6-8; Daniel 11:39; Isaiah 10:5-11), nor can Bitcoin prevent it, personally you can repent, as well as physically take steps, before the dollar-based economic system collapses.

Do NOT place your confidence in Bitcoin, FTX, the US dollar, or gold, but “seek first the Kingdom of God” (Matthew 6:33).

Related Items:

Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.

The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold? A video of related interest may be: Germany, Gold, and the US Dollar.

The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.

Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU? and Predestination and Your Selection. A short animation is also available: Is God Calling You? Christian Repentance Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance.

Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.

When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.

USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?

Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.

Blockchain, Karl Guttenberg, and 666. American Express just announced a deal with Ripple related to using its blockchain technology. No longer confined to Bitcoin, blockchain technology is moving towards the mainstream. Former German Economic and later Defense Minister, Karl-Theodor zu Guttenberg has long been an adviser to Ripple and has plans for internationally-expanding the use of blockchain money. Jim Rickards, Doug Casey, and others have expressed concerns that blockchain money will give governments too much control over buying and selling. Could any of this be related to biblical prophecies in the Books of Daniel and Revelation? Could any of this help fulfill the prophecies related to buying and selling and 666 in Revelation 13? Dr. Thiel addresses these issues and more in this video. A related written article is also available: Amex launches blockchain-based business payments using Ripple: Prelude to the Beast and 666?

Some Doctrines of Antichrist Are there any doctrines taught outside the Churches of God which can be considered as doctrines of antichrist? This article suggests at least three. It also provides information on 666 and the identity of “the false prophet.” Plus it shows that several Catholic writers seem to warn about an ecumenical antipope that will support heresy. You can also watch a video titled What Does the Bible teach about the Antichrist?

Might German Baron Karl-Theodor zu Guttenberg become the King of the North? Is the former German Defense Minister (who is also the former German Minister for Economics and Technology) one to watch? What do Catholic, Byzantine, and biblical prophecies suggest? A video of related interest would be: Karl-Theodor zu Guttenberg and Europe’s Future.

Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?

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Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here are links to two related videos: The King of the North is Alive: What to Look Out For and The Future King of the North.

Could God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2031 or 2025 or? There is also a video titled: When Does the 6000 Years End? 2031? 2035? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?

Might the U.S.A. Be Gone in 2028? Could the USA be gone by the end of 2028? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?

When Will the Great Tribulation Begin? 2024, 2025, or 2026? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Tribulation in 2024?

The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God

LATEST BIBLE PROPHECY INTERVIEWS

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Unveiling Russia’s Crypto Strategy to Bypass Global Sanctions

Key Points

Russia is set to adopt cryptocurrency for international payments by September.

The new bill also contains regulations for cryptocurrency mining, including energy limitations.

Russia is moving towards formalizing the use of cryptocurrency for international payments by September. The first international transactions using digital currencies could be expected by the end of the year, according to a report by Reuters, citing Elvira Nabiullina, the Governor of the Russian Central Bank.

The development is based on the passage of a key bill that enables the use of cryptocurrencies in cross-border trade. The head of the Duma reacted to the bill’s passage by stating, “We are taking a historic decision in the financial sphere.”

Implications of the Crypto Plan

The report suggests that Russia’s progress in the crypto field is linked to its plans to alleviate financial pressures arising from Western sanctions. Payment delays have been experienced, particularly with key trading partners such as China, India, and the UAE.

A large portion of international transfers from these partners passed through the SWIFT system, placing them under pressure to comply with Western sanctions against Russia. Despite Russia’s efforts to encourage trade partners to use local currencies, secondary sanctions have posed challenges to the Russian economy.

Cryptocurrency Mining Regulations

The new bill also stipulates regulations for cryptocurrency mining. Companies interested in mining digital assets in Russia must adhere to regulatory requirements and the set energy limit. Russian President Vladimir Putin has previously expressed concerns that cryptocurrency mining could lead to energy shortages.

The market is now waiting to see how the Russian law will be implemented from September and whether more Russian trade partners will accept international cryptocurrency payments.

[scentedangelpursekid-blog]

The advent of technology is promising a progressive future for us. Technologies like the Internet off Things (IoT), 5G and blockchain can be leveraged to revolutionaize our world. To begin with IoT refers to a collective network of connected devices and technologies. It facilitates the connection between the devices and the cloud, as well between the devices. It is a technology that could connect even mundane objects like toasters and backpacks to the internet. Although it is in its infancy, IoT could be our lucky ticket to a futuristic world of conveniance. IoT works via smart devices and collects data from its environment and user input and then sends this data to the IoT application. Through AI it analyzes the collected data and then makes a decision on that basis. IoT is used to make connected cars with smart dashcams. Such cars can facilitate a healthy urban development in a number of ways. Firstly, they have increased fuel efficiency. The IoT system can predict the vehicles maintenance needs. Additionally, the smart devices in a connected car can inform friends and family right away in case of a car crash. Connected homes could also be a remarkable endeavour. With smart devices providing impeccable security and devices with efficient electrical usage, these homes will be the homes of future. Connected devices at homes could be used to assist in daily chores like vacuuming, finding lost items and automatically turning off devices.

Similarly 5G connection will vastly improve the quality of the internet. 5G is faster because it uses the electromagnetic spectrum not used by any other network. Aside from improving our wifi, 5G could enable driverless, automatic cars to function effectively.

Furthermore, IoT applications facilitate urban planning and infrastructure maintenance. IoT can measure radiation and pollution levels in the atmosphere. The collected data can be used to study the pollutants and thereby, a solution to reduce pollution can be reached. Smart lighting systems can reduce energy bills. Moreover, IoT applications can also detect maintenance needs in bridges, railways and pipelines. This will ensure that the infrastructure is fixed promptly and the city system runs smoothly. Furthermore, smart buildings in university campuses could optimize operational efficiencies. Smart devices will lead to reduced energy consumption. With the presence of IoT applications which would detect any damages right away, maintenance costs will be lowered.

Blockchain, a decentralized ledger technology, has a potential to improve the economy. The information recorded by a blockchain is difficult to change or hack. This makes a blockchain a secure method for verifying information and transactions. Each block in the chain contains a record of transactions; this provides a decentralized and anonymous tracking of digital currencies around the world. Blockchain has applications beyond cryptocurrency therefore several banking and fintech companies are interested in it. In emerging economies like India, Kenya and East Africa, blockchain is aiding banking services, agriculture and supply chain. Due to its ability to keep data secure and speed up the transactions it has a tendency to be incorporated into various mainstream businesses and boost the economy.

What is IoT? - Internet of Things Explained. (n.d.). AWS. Retrieved July 19, 2024, from https://aws.amazon.com/what-is/iot/

Reiff, N. (2023, June 5). How Blockchain Can Help Emerging Economies. Investopedia. Retrieved July 19, 2024, from https://www.investopedia.com/tech/how-blockchain-can-help-failing-economies/

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Ringing in the Digital Rupee Era: How CBDCs Could Transform Indian Finance

The way we pay for things is constantly evolving. From barter systems to coins and paper money, and now the rise of digital wallets and UPI, our financial landscape is ever-changing.  Central Bank Digital Currencies (CBDCs) are the next potential chapter in this story, and India is at the forefront of exploring their possibilities.

What are CBDCs?

Imagine a digital version of the rupee issued directly by the Reserve Bank of India (RBI). That's essentially a CBDC. Unlike private cryptocurrencies like Bitcoin, CBDCs are government-backed and regulated, offering stability and security.

Also Read: Journey Of Poonawalla Fincorp’s Managing Director – Abhay Bhutada

Potential Benefits of CBDCs for India

Financial Inclusion: Millions of Indians still lack access to traditional banking systems. CBDCs, with their potential for wider accessibility through mobile phones, could be a game-changer for financial inclusion. Imagine paying bills or receiving government benefits instantly through your phone. This could be particularly impactful in rural areas where bank branches are scarce.

Boosting Efficiency:  CBDCs could streamline cross-border transactions, potentially reducing processing times and costs significantly. This could be a boon for Indian businesses engaged in international trade. For instance, imagine a small business owner in Mumbai importing textiles from Thailand. With CBDCs, the entire payment process could be settled within minutes, compared to the current system which can take days or even weeks.

Transparency and Security:  CBDCs could potentially offer a more transparent and secure way to conduct transactions. Every transaction could be recorded on a secure, tamper-proof digital ledger, making it easier to track and prevent fraud. This could be a significant advantage over cash, which is susceptible to theft and loss.

Greater Control for the RBI:  With CBDCs, the RBI could have more control over the money supply and potentially implement new monetary policies more effectively. For example, the RBI could program CBDCs to expire after a certain period, encouraging spending and stimulating the economy.

Also Read: Unveiling Abhay Bhutada: A Leader’s Inspiring Odyssey In Finance

Challenges to Consider

Privacy Concerns:  The digital nature of CBDCs raises privacy concerns. How will user data be protected? Can anonymity be maintained in transactions, especially for smaller purchases? These are questions that need careful consideration. The RBI will need to strike a balance between ensuring transparency and protecting user privacy.

Impact on Traditional Banks:  The widespread adoption of CBDCs could potentially impact the role of traditional banks. How will they adapt to this new financial landscape?  While some fear CBDCs could disintermediate banks, others believe they could create new opportunities for collaboration. Banks could leverage their expertise to offer value-added services on top of the CBDC infrastructure.

Technological Infrastructure:  India needs a robust digital infrastructure to support the smooth functioning of CBDCs. This includes ensuring reliable and affordable internet connectivity reaches even remote areas. Additionally, robust cybersecurity measures will be crucial to protect the CBDC system from potential cyberattacks.

The Road Ahead

The RBI is currently in the pilot phase of exploring CBDCs. While there's no set timeline for their launch, it's a sign that India is taking a proactive approach to the future of money.

Also Read: Who is Abhay Bhutada?

A Word from the Banking Professional

As a banking professional, I believe CBDCs have the potential to revolutionize the Indian financial system, echoing the sentiment of legendary investor Warren Buffett who once said, "Innovation distinguishes between a leader and a follower." They offer exciting possibilities for greater financial inclusion, efficiency, and security. However, it's crucial to address privacy concerns, ensure a smooth transition for traditional banks, and invest in robust digital infrastructure.  The success of CBDCs will depend on careful planning, open communication with all stakeholders, and a commitment to building a secure and inclusive digital financial ecosystem.

The arrival of the digital rupee, in the form of a CBDC, could be a defining moment for Indian finance. It's a story we'll all be watching closely in the coming years.