Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
Hong Kong Chief Executive Carrie Lam announced at a press conference on Saturday that a contentious bill to allow extraditions to mainland China has been put on hold.China Politicsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
A new update to the Apple Watch called watchOS 6 will notify you if the environment you're in is too loud and could damage your hearing.Technologyread more
Regulated financial institutions in India can no longer legally deal with cryptocurrencies, the Reserve Bank of India announced Thursday.
"In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling [virtual currencies]," the bank said in a statement.
Those that already provide cryptocurrency services will need to end the relationships within a specified time, which the bank said will be announced separately.
Cryptocurrencies caught the attention of regulators after bitcoin's price rose more than 1,300 percent last year, near $20,000 in December. The cryptocurrency was trading near $6,887 as of 10:20 a.m. Thursday.
Most digital currencies, such as bitcoin, are not backed by any central government, meaning each country has different standards and regulations.
Bitcoin and other cryptocurrencies are not legal tender in India. Before Thursday's statement, the Indian government had issued warnings about the risk associated with trading. The digital assets also raised flags over consumer protection, market integrity and money laundering, the bank said.
The government had planned to "take all measures to eliminate the use of these crypto-assets in financing illegitimate activities or as part of the payment system," India's finance minister told lawmakers in New Delhi in February, according to a transcript by The Hindu newspaper.
The country's tax department sent notices about cryptocurrency investing to tens of thousands of citizens after a national survey showed more than $3.5 billion worth of transactions have been conducted over a 17-month period.
Thursday's statement was part of an announcement about broader regulatory policy measures for strengthening financial market regulation.
The Reserve Bank of India was more open to blockchain, the technology that underpins virtual currencies, which it said has the potential to improve the efficiency and inclusiveness of the financial system.