AI-driven business solutions are changing the future course of lending business both for enablers and end-users. The lenders and borrowers are experiencing a paradigm shift from manual to commercial loan origination software at lightning speed. Let us scrutinize the reasons that are conducive to a shift in the way banks and lending institutions operated…
The Directorate of Enforcement (ED) has served crypto exchange WazirX a notice under the FEMA Act, Minister of State for Finance Pankaj Chaudhary told Rajya Sabha. The ED is investigating two cases related to crypto-currency against WazirX under the provisions of Foreign Exchange Management Act, 1999 (FEMA), he said in a written reply to the…
A bipartisan group of senators on Wednesday proposed a bill to regulate cryptocurrencies, the latest attempt by Congress to formulate ideas on how to oversee a multibillion-dollar industry that has been racked by collapsing prices and lenders halting operations. The regulations offered by Senate Agriculture Committee chair Debbie Stabenow and top Republican member John Boozman…
In yet another major cryptocurrency hack, the popular blockchain Solana on Wednesday reported that an unknown bad actor has drained funds from 7,767 wallets on the Solana Network. However, blockchain security firm SlowMist claimed more than 8,000 wallets had been drained worth around $8 million. Solana is a high-performance blockchain supporting builders around the world…
Cryptocurrency service Nomad has suffered a “chaotic” attack, with hackers draining almost $200 million in digital funds from the company within a few hours. In a tweet, Nomad said it is “working around the clock to address the situation and have notified law enforcement and retained leading firms for blockchain intelligence and forensics”. According to…
The income-tax department may make a permanent account number (PAN) mandatory for cryptocurrency investors, in line with the demat account rules for stock market transactions, according to two people privy to the discussion.
