There is information that there is a draft bill named “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019″ circulating through the various departments of the Indian government. The bill, if adopted could see an end to the adoption of cryptocurrencies in India, which would be a great blow to blockchain developers throughout the world, considering the large population in India that is seen as a great opportunity for cryptocurrency communities.

The government is currently said to be consulting the different ministries on the issues so as to come up with a conclusion on the way forward.

Familiar sources indicate that a committee of comprising of the Department of Economic Affairs (DEA), the Central Board of Indirect Taxes and Customs (CBIC), the Investor Education and Protection Fund Authority (IEPFA) and the Central Board of Direct Taxes (CBDT) is supporting the idea to ban any cryptocurrency activities in India including the issuance, sale and purchase of the digital currencies.

The Committee could use the Prevention of Money Laundering Act (PMLA) to ban the cryptocurrencies since it argues out that the digital currencies are a haven for money laundering and other fraudulent schemes. The ministry of Cooperate affairs has previously said that the cryptocurrencies are being used to swindle innocent investors of their money.

This development comes after the Supreme Court of India gave the Indian Authorities 4 weeks to structure regulatory policies for cryptocurrencies so that the court could stop handing cryptocurrency cases including the demand for the reverse of the Reserve Bank of India circular on cryptocurrencies.

There were also concerns from India Economic Affairs Secretary that the digital currencies would greatly impact the Indian currency if they were to be fully adopted as modes of payments.

Ocean, a data marketplace, felt the pinch after missing its Token Sale using CoinList. It is always painful and embarrassing to miss funding targets and it gives a big setback to any project.

Ocean has a vision of becoming the world leader in the data marketplace. However, it requires a significant amount of funds to actualize that dream. It released its Version 1.0 beta network in April this year with big anticipation of succeeding in its quest.

The leaders have opted to change the listing firm and chosen to offer an Initial Exchange Offering (IEO) with Bittrex instead. They target to raise $6.77 million.

Their initial Token sale was only able to raise about $24 million falling short of its target by about $7 million.

There is a lot of hope that the company will meet its target this time round despite the fact that Bittrex is currently involved in a dispute with the Department of Financial Services in NY. The issues in New York do not affect Ocean’s ambitious move.

The founder of Ocean Protocol, Bruce Pon, attributed the poor token sale in the first offering to the poor US crowdfunding market.  Though the US market is highly regulated, there lacked investors interested in the project.

With Bittrex, the customer base will widen to capture other regions other than the US.

And better still, Ocean has slashed the price of its token by half to $0.12 down from $0.25.

 

Brave Browser (a web browser just like the likes of Chrome and others) had promised that its registered users shall be paid for viewing online ads. The promise was made during the Initial Coin Offering (ICO) and users are can now enjoy the benefits since the promise has now be actualized. According to an announcement made by Brave on 24th April 2019, the users shall start getting a share of the revenue coming from the ads.

So let’s look at what is in for the users:

  • First of all, the program of sharing the revenue will only be available through the new MacOS, Windows and Linux Operating Systems upgrades.
  • The ads will be opt-in ads and they will not replace the normal ads.
  • Once a user clicks on a Brave Browser sponsored ad, they will be directed to a page containing more info about the particular ad related offer.
  • Brave Browser is offering a 70 percent revenue sharing program and it is paid using the Basic Attention Token (BAT) directly to the user’s BAT wallet.
  • Some of the suppliers who users should look out for BAT ads from include: MyCrypto, Home Chef, BuySellAds, ConsenSys, Vice, eToro, TAP Network, Ternio BlockCard, The Giving Block, Fluidity, Uphold and AirSwap.