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Indian Government Answers Questions about Bitcoin Transactions, Karnataka Scam and Legality of Crypto Trading

Indian Government Answers Questions on Bitcoin Transactions, Karnataka Scam, Cryptocurrency Trading

The Indian government has responded to three sets of questions regarding cryptocurrency transactions, the high-profile scam in Karnataka and the legality and legality of crypto trading and exchanges in India. The winter session of parliament is now underway and a crypto bill will be considered during it.

Indian Government Answers Questions About Bitcoin Transactions

The Indian Ministry of Finance responded to three sets of questions about cryptocurrency trading and bitcoin in Lok Sabha (the lower house of India’s parliament).

The first set of questions (Starred question No. 12), titled “Bitcoin Transactions,” ask Finance Minister Nirmala Sitharaman “whether the government is aware that bitcoin transaction is silently blooming in India in the recent years.” The finance minister replied:

The government does not collect data on bitcoin transactions.

Finance Minister Sitharaman further inquired “whether the government has any proposals to recognize bitcoin as currency in the country.” She replied “No sir .”

Questions About the Bitcoin Scam in Karnataka

The second set of questions (Unstarred question No. 196) are about the high-profile “Bitcoin Scam in Karnataka,” which recently received heavy media coverage. During his meeting with Prime Minister Narendra Modi, Basavaraj Bommai from Karnataka brought up the case.

The finance minister was questioned about the scam, details of the investigation, and the actions being taken.

Shri Pankaj Chaudhary was the Minister of State in Finance. He said: “Information available in public domain suggests a case of hacker activity involving bitcoin has been examined by the Karnataka Police… However, a case also has been filed by Bangalore Zonal Unit of Directorate of Enforcement. The matter is not of greater public interest .”

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Questions About the Legality of Cryptocurrency Trading and Crypto Exchanges in India

The third set of questions (Unstarred question No. 173), titled “Cryptocurrency,” ask the finance minister “whether the government is aware of the cryptocurrencies that are traded in India.” Minister Chaudhary responded:

Government does not collect information on trading in cryptocurrency.

The finance minister was also asked if cryptocurrency trading in India is allowed and if crypto exchanges in India are legal entities. She was also asked about any Acts that apply to crypto and crypto exchanges.

Minister Chaudhary responded: “Cryptocurrencies in India are not regulated.” RBI [the Reserve Bank of India] has vide its circular dated May 31st, 2021, advised its regulated entities to continue to carry out customer due diligence processes in line with regulations governing standards for know your customer (KYC), anti-money laundering (AML), combating of financing of terrorism (CFT) and obligations of regulated entities under Prevention of Money Laundering Act, (PMLA), 2002 in addition to ensuring compliance with relevant provisions under Foreign Exchange Management Act (FEMA) for overseas remittances.”

Winter Sessions of Parliament Begins

The winter session of parliament began Monday. A cryptocurrency bill is listed to be taken up during this session. The bill is not on Monday’s or Tuesday’s agenda.

“The Cryptocurrency and Regulation of Official Digital Currency Bill 2021” seeks “to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses,” according to the legislative agenda for the winter session of Lok Sabha.

The bill also provides “a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India.” The RBI has previously said that it is working on a digital rupee which it plans to launch in phases.

The Indian government has not made the content of the crypto bill public, which has led to much speculation about whether the government will ban cryptocurrencies, like bitcoin and ether, or provide a regulatory framework for them.

What do you think about the Indian government’s answers? Comment below to let us know your thoughts about the Indian government’s answers.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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Whales Target BullZilla Among Top Cryptos to Buy with $500 or More as Presale Smashes $1M; Solana and XRP Hold Key Levels

What if crypto buyers could ride the next bull run confidently instead of panicking every time charts dip over the weekend? Volatility remains exciting, with Bitcoin bouncing around key psychological levels while headlines constantly shift sentiment. Institutional trading shapes new directions and prompts smarter positioning. This highlights the top cryptos to buy with $500 as people seek stronger setups ahead of the next surge. Investors now evaluate where early capital can earn meaningful returns and which assets can deliver impressive momentum when markets finally flip bullish again.

Solana and XRP remain two heavily watched large caps that are continuing to defend major support areas under tough trading pressure. Their solid fundamentals attract holders who trust long-term utility and real-world usage. However, early-stage projects like BullZilla attract attention by offering stronger upside during presales, when entry costs are lower and token mechanics are more rewarding. Savvy buyers compare high-potential newcomers with established leaders to secure positions that may deliver bigger returns once the next bull wave hits and liquidity begins expanding again across the market.

Grab Millions Of BZIL Tokens Before The Stage 9 Price Jumps 3.04 Percent

Solana Price Struggles Near $187 As Bearish Pressure Builds

Solana trades under pressure after repeated rejections near $240, with lower highs strengthening bearish signals. Analysts note a wide trading range between $100 and $260, warning that a break of $158 to $165 could trigger further decline toward $100 by early 2026. Although a bounce toward $200 remains possible, Bitcoin’s weakness below $108000 keeps sentiment shaky. Solana still maintains high developer activity and ecosystem growth, which limits major downside risk for long-term holders. For now, bulls must reclaim the $200 level soon to rechallenge resistance and secure renewed momentum.

Frequently Asked Questions About Solana

Is Solana still a good crypto for long-term holding?

Solana continues to rank high for development growth and fast execution. Although price struggles near $187 show bearish pressure, long-term fundamentals remain strong. Investors often consider SOL a risky but high-potential asset during early market recovery phases.

Why is Solana facing selling pressure?

Solana faces selling pressure due to repeated failed attempts to break through resistance near $240, resulting in lower highs. Macro weakness and liquidity shifts intensify volatility. However, ecosystem support and institutional adoption still help strengthen the broader outlook.

BullZilla ($BZIL): Top Cryptos To Buy With $500 Now As Stage 9 Heats Up

BullZilla positions itself as the newest opportunity in crypto with affordable entry and strong tokenomics focused on growth. The presale is in Stage 9, priced at $0.00021906, with over $ 1,008k raised so far. More than 3400 holders have joined, and over 31 billion tokens have been sold. With the next price increase of 3.04 percent triggered at Stage 9B, buyers who act early secure more tokens for the same budget and gain stronger upside.

Turning $2000 Into A Massive Bull Run Entry

A $2000 buy today secures around 9.12 million BZIL tokens in Stage 9, giving buyers strong exposure to potential upside. Even a modest move toward the listing price could generate meaningful gains. Since each stage shifts after every $100k raise, scarcity increases quickly, and token allocation shrinks. Investors searching for the top cryptos to buy with $500 or more are monitoring BullZilla’s rapid growth. Early presale participation often creates major success stories when a new bull cycle accelerates, supported by strong community momentum.

How To Join The BullZilla Presale

Anyone can join by setting up a Web3 wallet like MetaMask or Trust Wallet. Buy ETH through a trusted exchange such as Binance or Coinbase, then move funds to the wallet. Visit the official BullZilla presale page and connect securely. Swap ETH for BZIL, and locked tokens will appear ready for claim once the presale ends. The platform transparently displays vesting terms. The process is simple, friendly for newcomers, and avoids complicated steps found in older launch systems. This smooth access fuels fast presale growth and encourages more early-stage participation.

Why Presales Could Be A Life-Changing Instrument

Presale investors get the earliest price entries, which gives them a significant potential advantage when trading starts on major exchanges. Affordable token prices create room for exponential percentage gains once stronger demand flows in. However, it matters to choose well-structured projects with clear token utility and transparent distribution rules. Successful presales reward disciplined buyers who join before mainstream hype forms. BullZilla shows how momentum builds and strong communities form even before the launch, which often helps sustain value. Those seeking early growth often prioritize projects that combine scarcity with concrete use cases.

Secure Your BZIL Tokens Before Stage 9B Pushes Prices Higher

Frequently Asked Questions About BullZilla Presale

What is the current BullZilla Presale price?

BullZilla Presale Price is $0.00021906 in Stage 9, with the next increase arriving soon. Locked pricing supports early buyers and ensures fair distribution as demand continues to grow each week.

Will BullZilla Presale be listed on Coinbase?

Exchange listing opportunities are often evaluated after token launch performance. Although the Coinbase listing is not confirmed yet, BullZilla shows strong social traction that may support future exchange expansion depending on growth.

XRP Drops Below $2.50 As Resistance Keeps Bulls Away

XRP struggles after multiple failed breakout attempts near $2.55, with heavy institutional selling pushing volume 85% above average. Price trades between $2.49 and $2.55, forming lower highs that signal fading momentum. Analysts say repeated support tests could open downside toward $2.46 if sellers maintain control. XRP continues strengthening its role in global payment networks, which supports long-term investors. A breakout above $2.55 is necessary to revive bullish momentum and clear a path toward $2.60, which keeps traders focused on volume strength for direction.

Frequently Asked Questions About XRP

Will XRP recover soon?

XRP could recover if buyers reclaim the $2.55 level with strong volume confirmation. The project remains important in global payments, but short term price action reflects mixed sentiment and external market pressure.

Why is XRP stuck near $2.49?

XRP remains near $2.49 because resistance at $2.55 continues to reject breakout attempts. Institutional traders increase selling volume on every pump. Recovery requires stronger sentiment and better market conditions supporting altcoins.

Conclusion – Is BullZilla Among the Top Cryptos to Buy With $500?

Solana trades near $187 as bearish pressure slows momentum and buyers wait for stronger liquidity. XRP holds the key to $2.49 level while sellers test market confidence, keeping traders cautious about rapid moves. Ongoing macro uncertainty increases volatility, making investors more selective in capital deployment. Yet, growing adoption and ecosystem advancements continue to support interest in digital assets. As buyers look for smarter positions, many now explore the top cryptos to buy with $500 to capture meaningful long-term returns backed by real utility and stronger growth opportunities.

BullZilla leads the extreme upside category thanks to Stage 9 progress, staking benefits, and controlled supply. With 2306.37 percent ROI already visible and a new price increase on the way, attention is rising fast. Buyers who wait miss higher token counts and early market advantage. Solana and XRP provide stability but limited percentage expansion. BullZilla thrives on early-stage power, making it an exciting candidate to help drive the next bull wave. Joining now allows investors to shape a bigger long-term story.

Join BullZilla Presale Today And Aim For Huge ROI Potential

For More Information:

BZIL Official Website

Join BZIL Telegram Channel

Follow BZIL on X  (Formerly Twitter)

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Michelle DG

Michelle is an editor at CoinCentral & Blockonomi, covering the latest trends in crypto, blockchain, and digital finance. With a sharp eye for detail and a passion for emerging technologies, Michelle ensures every story delivers clarity, accuracy, and insight to our readers.

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BNB coin price forecast following Robinhood’s listing

Robinhood’s BNB listing has boosted US investor access and market visibility. BNB faces short-term bearish pressure below the key $1,069 support. Strong fundamentals and deflationary burns support the long-term outlook. Robinhood’s decision to launch Binance Coin (BNB) trading in the United States has injected fresh energy into the cryptocurrency, which has dropped significantly after hitting…


BNB coin price forecast following Robinhood’s listing

  • Robinhood’s BNB listing has boosted US investor access and market visibility.
  • BNB faces short-term bearish pressure below the key $1,069 support.
  • Strong fundamentals and deflationary burns support the long-term outlook.

Robinhood’s decision to launch Binance Coin (BNB) trading in the United States has injected fresh energy into the cryptocurrency, which has dropped significantly after hitting a fresh all-time high (ATH) earlier this month..

Notably, the move comes as BNB retraces after hitting record highs, signalling both excitement and caution among investors navigating a volatile yet expanding crypto landscape.

Robinhood opens the door for US BNB traders

The introduction of Binance Coin on Robinhood marks a strategic expansion of the platform’s crypto offerings.

According to the official page, Robinhood has officially listed BNB. BNB is the native cryptocurrency of the BNB Chain, used for transaction fees, staking, and governance within its ecosystem.https://t.co/5IxSUoiAuK pic.twitter.com/VGLHFXeiRX

— Wu Blockchain (@WuBlockchain) October 22, 2025

CEO Vlad Tenev confirmed the rollout, emphasising Robinhood’s intent to give US investors broader access to digital assets.

The announcement quickly drew attention from across the crypto industry, with Binance CEO Changpeng Zhao praising BNB’s growing multi-chain features and Coinbase’s Brian Armstrong highlighting rising institutional participation.

The timing of the listing is significant. BNB’s debut on Robinhood coincided with record price activity earlier this month, underscoring the coin’s growing mainstream appeal.

Historically, listings on major US exchanges have sparked both liquidity surges and heightened speculation, although BNB’s reaction appears to be muted.

At press time, BNB traded at around $1,077.06, down about 1.5% over 24 hours, with a market cap of $148.9 billion and a 24-hour trading volume exceeding $3.1 billion.

Technical breakdown pressures the bulls

Despite its strong fundamentals, BNB faces short-term technical headwinds.

The coin recently broke below the $1,100 support level, a move that analysts say could trigger further selling.

Indicators such as the Relative Strength Index (RSI), which is above 47, and the MACD histogram, which is near -25, point to weakening momentum.

If the bearish trend deepens, the next major support level lies near $1,050, with a potential downside target of $845.

However, a recovery remains possible. A daily close above $1,173, corresponding with the 200-period simple moving average, could invalidate the current bearish pattern.

BNB coin price analysis
Source: CoinMarketCap

For traders, this level serves as the dividing line between a short-term correction and the potential start of a new upward leg.

Profit-taking and market sentiment weigh on BNB price

The recent decline also reflects profit-taking behaviour following BNB’s all-time high of $1,375 reached on October 13.

On-chain data shows that the 90-day spot cumulative volume delta remains negative, suggesting persistent selling pressure from long-term holders.

Derivatives markets confirm the cooling sentiment, with open interest down 7.3% over the week, hinting at reduced speculative activity.

Still, institutional interest may offer a cushion. Reports of large purchases, such as CEA Industries’ $435 million BNB acquisition, hint at confidence in the asset’s longer-term potential.

These inflows could help balance the ongoing outflows and stabilise prices around current levels.

Broader crypto market anxiety adds to the strain

BNB’s pullback has also mirrored broader market weakness.

The total cryptocurrency market capitalisation has dropped nearly 1.9% in the past day, as investors shift toward stablecoins amid Bitcoin’s dip below $107,000.

The Crypto Fear and Greed Index, sitting at 29, signals “extreme fear” — a level not seen since March 2025.

crypto fear and greed index
Source: CoinMarketCap

With BNB’s 30-day correlation to Bitcoin at 59%, its performance remains heavily tied to Bitcoin’s recovery prospects.

BNB price outlook

BNB’s near-term outlook remains cautious.

Technical and sentiment indicators point to continued volatility, with traders closely watching whether bulls can defend the $1,050 level.

If the market stabilises and Bitcoin rebounds above $107,000, confidence could return quickly, setting the stage for a renewed push toward $1,200 and beyond.

While short-term risks persist, BNB’s ecosystem growth, institutional interest, and recent Robinhood listing provide a solid footing for the long run.

The coming weeks will reveal whether the coin’s breakout potential outweighs the prevailing caution — a balance of fear and opportunity that defines much of today’s crypto market.


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Aussivo Debuts trust-first cloud infrastructure at Blockchain Life Dubai

Enterprises lose billions annually due to cloud misconfigurations, vendor opacity, and security breaches. Aussivo enhances existing cloud infrastructure with the Verifiable Cloud Layer. Built for scale, speed, and zero-trust architectures, Aussivo strengthens cloud operations. Enterprises lose billions annually due to cloud misconfigurations, vendor opacity, and security breaches. Aussivo enhances existing cloud infrastructure with the Verifiable…


Aussivo Debuts trust-first cloud infrastructure at Blockchain Life Dubai

  • Enterprises lose billions annually due to cloud misconfigurations, vendor opacity, and security breaches.
  • Aussivo enhances existing cloud infrastructure with the Verifiable Cloud Layer.
  • Built for scale, speed, and zero-trust architectures, Aussivo strengthens cloud operations.

Enterprises lose billions annually due to cloud misconfigurations, vendor opacity, and security breaches.




Aussivo enhances existing cloud infrastructure with the Verifiable Cloud Layer, an auditable, tamper-resistant foundation that brings blockchain-grade integrity and transparency to modern cloud environments.




Built for scale, speed, and zero-trust architectures, Aussivo strengthens cloud operations without replacing them.




Aussivo will attend the Blockchain Life Dubai 2025 (October 28th–29th, Festival Arena), joining as one of the event sponsors and a participant in the Startup Pitch competition.




Aussivo’s team will be at Booth C, and they will also present their initiative on stage.




Introducing the verifiable cloud layer




Aussivo’s Verifiable Cloud Layer is an enhancement to existing cloud infrastructure, designed to strengthen trust, accountability, and transparency without disrupting current systems.




It introduces a tamper-resistant architecture underpinned by cryptographic security, enabling immutable audit trails for all cloud operations.




This layer also delivers real-time visibility across complex, multi-stakeholder environments, while ensuring cryptographic integrity through a zero-trust design.




Private ICO market opportunity now open




As part of its next phase of growth, strategic allocation in Aussivo’s Private ICO is now open to institutional investors, node operators, and early ecosystem partners.




This is a limited-time opportunity to help shape a category-defining platform, built to power the next generation of secure, auditable, and verifiable cloud infrastructure.




Early commitment also means influence, exclusivity, and position at the forefront of a rapidly expanding market.




The future of infrastructure is verifiable




As industries accelerate toward decentralized and regulated environments, the demand for secure, transparent, and audit-ready infrastructure is growing fast.




Aussivo’s architecture supports this shift, enabling enterprises, node operators, and developers to build with confidence.




Moreover, a Secure Proof-of-Stake (SPoS) consensus and ZK-rollups underpin the network.




The platform is designed to process up to 15,000 TPS while maintaining cryptographic trust.




Additionally, the Gastank Protocol abstracts gas fees across chains, allowing seamless cross-chain transactions using the $ASVO token, a universal settlement asset across the Aussivo network.




Beyond performance, Aussivo focuses on enterprise integration. The platform includes:




  • AI-powered security agents with ZK-proofs for tamper resistance



  • Wallet-free onboarding and gasless transactions for better user experience



  • Advanced developer tools through an AI Marketplace with instant dApp deployment




In this way, Aussivo isn’t just supporting Web3, but is actively upgrading it, eliminating the friction holding back enterprise adoption.




Vision backed by growth




According to Messari, the DePIN TAM (Total Addressable Market) is projected to reach up to $3.5 trillion by 2028 as crypto and AI converge.




Aussivo is positioned to lead this growth, enabling decentralized compute, storage, and networking, all verified in real time on-chain.




With cyberattacks rising and regulations tightening, demand for Cybersecurity-as-a-Service is projected to reach approximately $250 billion by 2030.




Aussivo addresses this with enterprise-grade tooling, AI automation, and transparent cloud integrity that aligns with global compliance requirements.




Early pilot programs and rising demand signal an increase of up to 10x in network usage within the first two years, driven by developer adoption, node expansion, and enterprise deployments across finance, IoT, gaming, and government.




About Aussivo




Aussivo is redefining cloud infrastructure by replacing blind trust with verifiable truth. Built for enterprises, institutions, and mission-critical applications, Aussivo delivers infrastructure that’s transparent, auditable, and tamper-proof by design.




Unlike platforms that focus solely on throughput and buzzwords, Aussivo prioritizes trust, enabling organizations to run operations with confidence in the integrity of their data, systems, and processes.




Aussivo is not here to replace the cloud but to enhance it, delivering real-world solutions built for scalable adoption.




For additional information, visit Aussivo’s official website or reach out to them via email.




Check out their social media channels as well for regular updates.

This article is authored by a third party, and CoinJournal does not endorse or take responsibility for its content, accuracy, quality, advertisements, products, or materials. Readers should independently research and exercise due diligence before making decisions related to the mentioned company.


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