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India has once again distanced itself from the rising de-dollarization accusations. The latest update follows how India has actively denied its involvement in exploring US dollar alternatives, stressing the dollar’s evergreen role as the reserve currency, with no plans of ever replacing the asset with other notable competitors. Also Read: Belarus Expands Local Currency Usage In A Major De-Dollarization Shift India Backs Dollar in a New Update Source: Economictimes.com India has once again reiterated its former stance, adding that the nation is not intersecting with any other currency besides the USD. In a recent interview, Chief Economic Advisor of India V. Anantha Nageshwaran shared how India is not a part of any such narrative that promotes the usage of alternative currencies besides the US dollar. “No, certainly not. I think India is not part of any such initiative,” he said in response to a question if India is looking at an alternative currency to the US dollar for glob...

A co-founder of the Russian crypto exchange Garantex has reportedly been arrested by police in India under the country’s extradition laws, according to TechCrunch. Kerala State police arrested Aleksej Besciokov at 4pm IST yesterday in the coastal region of Varkala, where he was reportedly holidaying with his family.  Last week, the US charged Besciokov, who is Garantex’s main technical administrator, with facilitating money laundering for transnational criminal organizations and conspiracy to violate sanctions. In conjunction with Germany and Finland, the US also seized Garantex’s online domains . Just before this, Tether froze $27 million worth of USDT on the platform, which Garantex called a “war against the Russian crypto market.” According to the US, Garantex has processed at least $96 billion worth of crypto transactions for the past six years.  Garantex says ‘USDT in Russian wallets under threat’ as Tether freezes $27M Read more: Russ...