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(Bloomberg) -- Bitcoin plunged more than 20% amid a broad tumble in the cryptocurrency sector. The largest digital token fell as low as $42,296 and was trading at just below $47,000 as of 1:32 p.m. in Singapore on Saturday. Ether, the second largest token, fell as much as 17. (BTC )

(Bloomberg) -- Bankers in India risk losing out large parts of their traditional business to global tech giants as Google Pay and Walmart-backed Phonepe boost control of the nation's retail digital payments network, according to Uday Kotak.

While investors await for the Cryptocurrency bill to come through, Finance Minister Nirmala Sitharaman said adequate steps in the mean are being taken to caution young investors about investing in cryptocurrency. The Government of India, SEBI as well as the RBI have taken steps to create awareness and caution youngsters about the risks of investing in Cryptocurrency, Sitharaman said, during the Question Hour in Rajya Sabha.

(Bloomberg) -- India's first cryptocurrency unicorn, CoinDCX, plans to pursue an initial public offering as soon as government regulations allow it, according to its co-founder Neeraj Khandelwal.

High impact changes are coming - from banking to cryptocurrencies. Brace for impact.

One97 Communications Pvt., the parent of digital payments platform Paytm, saw its net loss widen in the second quarter as expenses rose.

(Bloomberg) -- India's digital payments giant Paytm is set for another bout of scrutiny on Saturday when it reports earnings in the wake of its record-breaking initial public offering and tumultuous stock market debut. Ahead of the results, Paytm's shares dropped as much as 7.

Will they ban it? Will they not? The uncertainty over India's approach to cryptocurrencies persists. Here are the options available to anyone who may need to or want to secure their investment in these tokens.

Local prices of cryptocurrencies fell sharply overnight as selling accelerated after the government listed a bill to deal with such tokens for the upcoming session of Parliament. (BTC )

Crime for fun, drugs and alcohol. Hacking computers to steal cryptocurrencies. Then using them to pay for illicit goods and services. Eventually, jail. That's the story of a 26-year old Sri Krishna Ramesh, or Sriki. Nearly a year ago, the Bangalore police arrested Sriki for allegedly dealing in narcotics. The chargesheet in the case, dated Nov. 6, 2021, reveals the link between Sriki's activities, illegal narcotics trade and cryptocurrencies.

The government will introduce and hold discussions on bills on cryptocurrency regulation, repealing farm laws, and amendments to insolvency and banking regulations, among 26 legislations, during the winter session of parliament starting Nov. 29.

The government has listed a long-pending bill to deal with cryptocurrencies in the winter session of parliament. The agenda for the session lists

Shares of One 97 Communications Ltd., the parent of digital payments platform Paytm, gained after shedding nearly 40% in the first two sessions post listing on Thursday.

(Bloomberg) -- Macquarie Capital Securities (India) Pvt., which was vindicated on its initial downbeat call on Paytm, maintained its bleak view on profitability Monday after the digital payments startup released financial details for the critical period ahead of the Diwali holiday.

One97 Communications Ltd., the parent of digital payments platform Paytm, recorded the worst trading debut in at least two decades as analysts raised concerns about its profitability and investors balked at high valuation. The stock ended more than 27% lower on its first trading day. That, according to Prime Database, beat Reliance Power Ltd.'s 17.22% drop on its listing day in 2008.

RBI Governor Shaktikanta Das reiterated the central bank's concerns around cryptocurrencies. Das, speaking at the State Bank of India's economic conclave, said that there is a need for a much deeper discussion on these tokens.

As the Indian government continues to debate regulation of cryptocurrencies, crypto exchanges are suggesting ways to protect users from the worst bouts of volatility. This, according to industry representatives from WazirX, Giottus could be done via regulating exchanges but also keeping a check on tokens that are permitted for trading.

As the Indian economy continues down the path to recovery, did festive spending live up to expectations? Digital payments data suggests so.

Is the frenzy behind these meme-based cryptocurrencies such as Dogecoin and Shiba Inu backed by any fundamentals? No, say experts. (DOGE )

Interest in cryptocurrencies is on rise. While no formal estimates of cryptocurrency holders exist in India, the top three exchanges claim they each have users in the range of 1 to 10 million. Who are these users? Investors? Believers in cryptocurrencies? Could they also be those who want to launder money? Or finance illegal activities?

(Bloomberg) -- Bitcoin slid below $60,000 as traders liquidated the most positions in a month. Prices for the biggest digital asset lost 5% to $58,975 as of 10:44 a.m. in London, reaching the lowest intraday price in almost two weeks. (BTC )

Bitcoin rallied early Monday after falling over the weekend, ahead of an anticipated U.S. exchange-traded fund approval.The largest cryptocurrency gained as much as 5.3% and was trading at about $62,180 as of 11:21 a.m. in Hong Kong. (BTC )

Companies such as Mudrex, Revix, Triaconta, and CoinJar have started offering bundles of cryptocurrencies that emulate a managed fund.

Offline digital payments sound antithetical. Yet, it is something the regulator is pushing for and the industry sees as a way to take digital payments deeper into the hinterlands. On Friday, the banking regulator said it will release a nationwide framework for implementing offline retail digital payments. This followed a pilot project conducted in 2020, under which transactions up to Rs 200 could be made in offline mode without additional factor authentication.

(Bloomberg) -- Whenever traditionally minded investors think they finally have their heads wrapped around cryptocurrencies' role in financial markets, the digital asset class always seems to prove them wrong. (BTC )

Cryptocurrency risks. CBDC caution. It is time to pick a side. As Yoda would say:

Digital currencies backed by central banks might become a preferred safe haven during a future financial crisis, potentially aggravating runs at commercial lenders.

'Like thoko!' or hit the like button--that's how comedian Tanmay Bhat signs off on most of his videos. Usually these videos are a comic takedown of a movie or a social trend maybe.

Bitcoin grabs most headlines, having become almost synonymous with cryptocurrencies. But ask the true crypto believers and many will tell you that Ether, built on the Ethereum blockchain network, is the real deal. (BTC , ETH )

(Bloomberg) -- Cryptocurrencies should be treated as an asset or commodity in India and governed by existing laws for exchanges, a former senior central bank official said in remarks that contrast the Reserve Bank of India's current approach to the virtual coins.

This week, again, saw a string of interesting developments in the world of new finance. Thinkpad refuses to call the space Fintech. Tech is all pervasive. What is unique about new finance is not the tech but the approach to finance and the delivery of it.

What comes to mind when you think of digital payments? Someone cruising through big city traffic, juggling applications on their smartphone, paying their electricity bill and while making evening plans?

(Bloomberg) -- Bitcoin is closing in on the closely watched $50,000 level again in an ongoing recovery in the cryptocurrency market from a disorderly rout just three months ago. The largest virtual coin advanced as much as 3. (BTC )

(Bloomberg) -- Global crypto adoption among ordinary investors has surged in the past year, according to crypto-analysis firm Chainalysis.

Indian fintech firms have raised over $2 billion (Rs 15,000 crore) in the first six months of 2021, according to KPMG's Pulse of Fintech H121 report released on Wednesday. The fund-raising in the first half of 2021 nearly matched the money raised during all of 2020, the report said.

Cummins India, CESC, Bata, HEG, CreditAccess may react as the companies reported quarterly results after the market closed Wednesday. Tata Steel, BPCL, Hero, Eicher Motors, Ashok Leyland, Page, Aurobindo Pharma, Bharat Forge are among the companies scheduled to report earnings Thursday. MRF, Page Industries, Cummins, CSB Bank, Bata, Equitas Small are holding their annual shareholders' meeting. (BTA )

Power Grid, Lupin, Siemens, Trent, Zomato, IRB, Godrej Agrovet, Prestige Estates may react as the companies reported quarterly results after the market closed Tuesday. Cadila, Pidilite, Cummins, India Cements, Bata, CESC are among the companies scheduled to report earnings Wednesday. ITC, Cadila, Pidilite, Lupin, Metropolis, Karur Vysya, Redington are holding their annual shareholders' meeting. (BTA )

Digital payments firm BharatPe, on Wednesday, said it raised $370 million (Rs 2,775 crore) from investors at a valuation of $2.85 billion (Rs 21,375 crore).

India's latest digital payment solution, e-RUPI, may become the preferred mode for direct benefit transfers as it could help avoid leakages in subsidy transfers. The e-RUPI will be launched by Prime Minister Narendra Modi on Monday.

The e-Rupi, to be launched by Prime Minister Narendra Modi on Aug. 2, will allow for small-ticket person-specific and purpose-specific payments via digital vouchers. These vouchers can be generated by the government or corporates via banking partners and redeemed by beneficiaries via a QR-code or an SMS-based mobile identifier.

India's anti-money laundering agency is examining if Binance Holdings Ltd. had a role to play in an ongoing investigation involving betting apps, according to people with knowledge of the matter.

Digital lending may be a boon for financial inclusion but it's also been a regulatory bane. The Reserve Bank of India is still struggling to weed out fraudulent loan apps. That task is only getting tougher. Some fintech firms have been offering credit via Unified Payments Interface, allowing customers to borrow instantly by just scanning a QR code. While the facility is fast gaining acceptance, UPI credit operates in a regulatory grey area.

The Reserve Bank of India may conduct pilot projects for retail and wholesale central bank digital currencies in the near future, Deputy Governor T Rabi Sankar said on Thursday.

Digital payments firm Mobikwik has filed a draft red herring prospectus ahead of its initial public offering.

Bitcoin's slide toward $30,000 amid China's continued cryptocurrency crackdown is stoking fears of a deeper selloff. Bitcoin fell as much as 4.3% and was trading at about $32,240 as of 9:08 a.m. in Hong Kong. Second-ranked Ether slipped 4. (BTC )

(Bloomberg) -- Bitcoin fell to a two-week low amid an intensifying cryptocurrency crackdown in China. The largest virtual currency fell 10% to $32,350 as of 8:50 a.m. in New York. Ether declined 13% to $1,950. (BTC )

Digital payments startup Paytm will ask for shareholder permission to sell about $1.6 billion in new stock as part of what's set to be India's largest-ever initial public offering.

The central government is reviewing key parts of a legislation that would have effectively banned cryptocurrencies in India. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 was listed for introduction in the Budget Session of Parliament but was never introduced.

WazirX, one of India's largest cryptocurrency exchanges, has been issued a show cause notice by the Enforcement Directorate.

Shares of Bata India Ltd. gained the most in 14 months as analysts expect the footwear maker to regain lost sales momentum once schools, malls and offices reopen after the Covid-19 lockdowns lift. (BTA )