• Home
  • News
  • Bitcoin
  • Blockchain
  • Altcoins
  • Ethereum
  • Regulations
  • Technology
What's Hot

Cardano price is heading towards the resistance level at $0.58

August 13, 2022

GAIMIN’s Early Access Event Opens Its Monetization Platform and App to Players – Bitcoin Planet Press Release

August 13, 2022

Bitcoin Traders Still Favor New Lows of $20,000 as Ethereum Hits $2,000

August 13, 2022
Facebook Twitter Instagram
Facebook Twitter Instagram
The Crypto News
  • Home
  • News

    Bitcoin Traders Still Favor New Lows of $20,000 as Ethereum Hits $2,000

    August 13, 2022

    Axie Infinity in bearish grip, but AXS investors remain bullish

    August 13, 2022

    Crypto Markets Rebounded and Sentiment Improved, but Retail Has No FOMO Yet

    August 13, 2022

    Bitcoin mining revenue jumps 68.6% from worst day of 2022

    August 13, 2022

    Tornado Cash DAO Falls Without Explanation After Treasury Funds Vote

    August 13, 2022
  • Bitcoin

    GAIMIN’s Early Access Event Opens Its Monetization Platform and App to Players – Bitcoin Planet Press Release

    August 13, 2022

    Netskope Finds Hackers Using Google Sites and Microsoft Azure to Steal Crypto

    August 13, 2022

    Iskra Redefines Game Publishing During Korea Blockchain Week, Announces New Games BlockBlog

    August 13, 2022

    Unionbank of the Philippines Supports Cryptocurrency Exchange via BlockBlog Mobile App

    August 13, 2022

    What is Bitcoin’s place in Macro? -Bitcoin Magazine

    August 13, 2022
  • Blockchain

    Cardano price is heading towards the resistance level at $0.58

    August 13, 2022

    Cardano price is heading towards the resistance level at $0.58

    August 13, 2022

    Binance Announces It Will Eventually Support Ethereum PoW Fork

    August 13, 2022

    Messari report suggests Cardano is too expensive as Vasil hard fork approaches

    August 13, 2022

    SOL ready to break above the $45 resistance

    August 13, 2022
  • Altcoins

    Bear Market Altcoins to Watch CryptoBlog

    August 12, 2022

    The top three altcoins to invest in during the bear market

    August 12, 2022

    Top Crypto Analyst Says Traders Put Too Much Emphasis on the Fed, Name Its Top Projects Altcoin

    August 12, 2022

    Lark Davis shares altcoins he hopes to make millions

    August 12, 2022

    Ethereum-Based Altcoin Explodes 750% in Just Two Months, Outpacing Bitcoin and Crypto Markets

    August 12, 2022
  • Ethereum

    Ethereum: it’s the dress rehearsal before the big change

    August 13, 2022

    New findings show that institutional investors are more interested in Ethereum

    August 12, 2022

    Ethereum leads the charge against Bitcoin, up 61% since June – Flippening price target at $3,750

    August 12, 2022

    Merger date is coming sooner than expected, say ETH developers

    August 12, 2022

    MakerDAO Founder Offers to Convert $3.5 Billion USDC Reserve to Ethereum

    August 12, 2022
  • Regulations

    New York Nabs $30M From Robinhood Crypto in Regulatory Fine

    August 13, 2022

    US crypto regulation bill aims to bring clarity to decentralized autonomous organizations – World Economic Forum

    August 13, 2022

    New Legislation Calls for All Gold Mined in Brazil to Be Tokenized on a Blockchain

    August 13, 2022

    New York Financial Regulator Brings First AML and Cybersecurity Enforcement Action against Licensed Crypto Trading Entity | Proskauer – Blockchain and the Law

    August 13, 2022

    Crypto Ban: Uzbekistan Blocks Access To FTX And Binance – Here’s Why

    August 13, 2022
  • Technology

    Crypto Derivatives Volumes Climb to $3.12 Trillion in July: Crypto Compare

    August 13, 2022

    Weekly Crypto Roundup: Titans Clash, Hacks Continue, and Sanctions Strike Home

    August 13, 2022

    OODA Loop – Let the Ugly Ducklings Grow: Why Crypto Needs a Safe Harbor

    August 13, 2022

    Space Invaders: How Video Gamers Are Resisting a Crypto Onslaught

    August 13, 2022

    This Brazilian fintech is bringing crypto trading to 30 million people

    August 13, 2022
The Crypto News
Home»Regulations»Internet shutdowns, YouTube blocking, crypto policy, and more
Regulations

Internet shutdowns, YouTube blocking, crypto policy, and more

July 25, 2022No Comments6 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The Government of India stuck to its usual stand-by of feigning ignorance with regards to censorship data. As such, it had no focused answers regarding internet shutdowns or social media regulations.

Nonetheless, the central government had a lot to say about its success on Aadhar linkage with ration cards, cryptocurrency and lower digital frauds. Here’s a summary on all that was said in the last week on these topics and more.

Where’s the data on internet shutdowns?

Rajya Sabha MP Sanjay Singh asked the government to confirm with data points whether India is the leading country in the number of internet disruptions and internet shutdowns. However, the central government said it has no data regarding such incidents because temporary internet suspensions are handled by state governments.

“Centralized data of internet shutdown is not maintained by the government,” said the Information and Broadcasting Ministry when asked about the number of internet shutdowns in the last five years. Singh had also asked whether “internet shutdowns have been regularly used as a tool for routine policing and even administrative purposes and not for public emergencies” but got no response.

Advertisement. Scroll to continue reading.

99% of total ration cards linked with Aadhaar

The government declared that 99.1 percent of 19.5 crore ration cards under National Food Security Act (NFSA) have been seeded with the Aadhaar number of at least one person in every household. The rest of the ration cards are expected to be seeded by September 30.

Meanwhile, regarding questions about the ‘Performance audit on functioning of UIDAI,’ the government said 5,98,999 Aadhaar cards were cancelled by May 31 for being duplicate and for other reasons.

Dubious response on social media accountability

MP Asaduddin Owaisi asked the government whether it came out with a “new accountable regime for social media companies” through the updated IT (Intermediary Guidelines and Digital media Ethics Code) Rule 2021. In his follow-up question he asked, “If so, whether these rules are not sufficient to keep a check on the unlawful, inflammatory and illegal content and conversation on such platform?”

To this the Ministry of Electronics and Information Technology (MeitY) said, “As per the IT Rules, 2021, the online intermediaries including social media intermediaries have been mandated to develop a robust grievance redressal system for their users. They are required to publish privacy policy, rules and regulations and terms and conditions. They are also expected to remove any unlawful content as and when brought to their knowledge either through a court order or through a notice by appropriate government or its authorized agency. They are also expected to act on any information violative of their policies as and when it comes to their knowledge.”

Advertisement. Scroll to continue reading.

Regarding government efforts to enhance the accountability for social media companies by amending IT laws, the government said it will further update Part 2 of the IT Act.

Cryptocurrency regulation in the Indian context

Ban cryptocurrency? The Reserve Bank of India’s (RBI) voiced concerns that cryptocurrencies will have a destabilising effect on India’s monetary and fiscal stability. While it did recommend framing legislation for this sector, the RBI advised that cryptocurrencies be prohibited. This is because any legislation for regulation or for banning of cryptocurrencies can be effective only after significant international collaboration.

No tax exemption: Rajya Sabha MP Abdul Wahab asked the government whether it planned to exempt cryptocurrency transactions from taxes. To this, the government said there is no such proposal under consideration. Further, regarding attempts to deter risky cryptocurrency transactions, it said the RBI has advised its regulated entities to continue to carry out customer due diligence processes for transactions in VCs, in line with regulations governing standards for Know Your Customer (KYC), Anti-Money Laundering (AML), Combating of Financing of Terrorism (CFT), obligations under Prevention of Money Laundering Act (PMLA), 2002, etc.

Cryptos and NFTs as VDAs: In response to queries regarding the status of cryptocurrencies and NFTs, the government said, “through Finance Act, 2022, clause (47A) was inserted to section 2 of the Act to provide definition of virtual digital assets (VDA) to mean any information or code or number or token (not being Indian currency or foreign currency), generated through cryptographic means or otherwise, by whatever name called, providing a digital representation of value exchanged with or without consideration, with the promise or representation of having inherent value, or functions as a store of value or a unit of account including its use in any financial transaction or investment, but not limited to investment scheme; and can be transferred, stored or traded electronically. Non fungible token and any other token of similar nature are included in the definition.”

Further, the central government specified a token which qualifies to be a virtual digital asset as non-fungible token within the meaning of sub-clause (a) of clause (47A) of section 2 of the Act but shall not include a non-fungible token whose transfer results in transfer of ownership of underlying tangible asset and the transfer of ownership of such underlying tangible asset is legally enforceable.

Advertisement. Scroll to continue reading.

Claims of decreased digital transaction frauds

Citing RBI data, the government said that instances of digital fraud declined from 70,283 incidents in 2020- 21 to 58,111 incidents in 2021-22. However, it failed to provide city-specific data because “the data is captured only at the National level.”

Over 500 YouTube channels blocked

The Ministry of Information and Broadcasting said that it blocked 78 YouTube-based news channels and their social media accounts for public access between 2021 and 2022 under Section 69A of Information Technology Act, 2000. Similarly, the Ministry of Electronics and Information Technology (MeitY) blocked 560 YouTube URLs between 2021 and 2022. However, the government failed to answer MP Manickam Tagore B.’s question on whether these sites were blocked for “spreading false and unverified information.”

Over 8,000 complaints against cab aggregators

As many as 8,740 consumer grievances were registered against major cab aggregator companies January 2020 to July 2022. Consumers complained about deficiency in services, inadequate consumer grievance redressal mechanism, cancellation by drivers, etc. as per the data from the National Consumer Helpline (NCH). Based on these complaints, the Consumer Affairs, Food and Public Distribution Ministry sent notices to two major online ride hailing platforms. In the questions, MPs specifically mentioned Ola and Uber.

Advertisement. Scroll to continue reading.

448 notices to E-Commerce entities

A total of 448 notices were issued by the Legal Metrology Division, Department of Consumer Affairs to E-Commerce entities. It issued 38 notices between October 16, 2020 and December 31, 2020 and another 232 notices between January 1, 2021 to December 31, 2021. Later between January 1, 222 to July 11, 2022the division issued 178 notices. Compounding fees amounting to ₹ 77, 90,500 were realized from e-commerce companies.

Also Read:

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

New York Nabs $30M From Robinhood Crypto in Regulatory Fine

August 13, 2022

US crypto regulation bill aims to bring clarity to decentralized autonomous organizations – World Economic Forum

August 13, 2022

New Legislation Calls for All Gold Mined in Brazil to Be Tokenized on a Blockchain

August 13, 2022

New York Financial Regulator Brings First AML and Cybersecurity Enforcement Action against Licensed Crypto Trading Entity | Proskauer – Blockchain and the Law

August 13, 2022
Add A Comment

Leave A Reply Cancel Reply

Latest

Bitcoin Traders Still Favor New Lows of $20,000 as Ethereum Hits $2,000

August 13, 2022

Axie Infinity in bearish grip, but AXS investors remain bullish

August 13, 2022

Crypto Markets Rebounded and Sentiment Improved, but Retail Has No FOMO Yet

August 13, 2022
We are social
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Subscribe to Updates

Get the latest sports news from SportsSite about soccer, football and tennis.

News
  • Altcoins (342)
  • Bitcoin (513)
  • Blockchain (583)
  • Ethereum (150)
  • News (563)
  • Regulations (607)
  • Technology (574)
News
  • Altcoins (342)
  • Bitcoin (513)
  • Blockchain (583)
  • Ethereum (150)
  • News (563)
  • Regulations (607)
  • Technology (574)
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Top Insights

GAIMIN’s Early Access Event Opens Its Monetization Platform and App to Players – Bitcoin Planet Press Release

August 13, 2022

Netskope Finds Hackers Using Google Sites and Microsoft Azure to Steal Crypto

August 13, 2022

Iskra Redefines Game Publishing During Korea Blockchain Week, Announces New Games BlockBlog

August 13, 2022
Facebook Twitter Instagram Pinterest
  • About us
  • Privacy policy
  • Terms and services
  • Contact us
© 2022 Designed by thecryptonews.co.uk.

Type above and press Enter to search. Press Esc to cancel.