How the Cryptocurrency ban in India will lead to the death of a growing industry?

With the Reserve Bank of India (RBI) planning to issue its own digital currency soon, the Government of India plans to restrict the supply of Cryptocurrencies in the country.

This comes as a huge blow to the industry after the Supreme Court removed the ban on banks providing services to crypto companies earlier imposed by the RBI.

For a long time in India, Cryptocurrency was neither prohibited nor legally permitted. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 has not been raised in the Parliament so far, nor has it been mentioned in the ongoing Union Budget session. However, the bill encourages blockchain technology and cryptography for different purposes in the financial services industry.

What will be the Consequences of the Upcoming bill if it is Passed?

• Close to 7 million Indian investors who hold more than $1 billion in digital assets will be affected directly, making their holding valueless.
• Many cryptocurrency startups, consultants, and exchanges may be forced to shut down their operations, leading to high unemployment.
• Foreign venture capitalists who have bet big on cryptocurrency businesses may decide to withdraw all their investments.
• Digital payments may expand with the issue of a central bank digital currency (CBDC). According to the Union Budget of 2021, Rs 1500 crores has been announced to promote online payments and reduce cash circulation in the country.
• It can lead to a lot of centralization of the money supply as Bitcoin and other cryptos are completely decentralized compared to a digital currency issued by an authority.
• It might trigger panic selling by investors in exchanges to reduce their investment exposure to digital currency assets.

Some Suggestions from the Industry are

• It is better to bring the Cryptocurrency industry under the control of authorities like the SEBI (Securities and Exchange Board of India) instead of opting for an outright ban on trading Cryptocurrencies.
• Blockchain technology can be used in many industries leading to Cryptocurrencies being viewed as a viable asset.
• Amendments can be made in the Income Tax and GST laws regarding tax laws for Cryptocurrencies, especially in the long-term and short-term crypto gains.
• Cryptocurrencies should be recognized as tradable commodities, just like financial instruments promoting them as an investment avenue.
• Changes can be made in the Foreign Exchange Management Act (FEMA) so that crypto exchanges can deal in foreign exchange without any restrictions.
• Favorable regulations will yield more benefits for the industry and put India on par with developed countries like the USA and China.
• The meaning of Securities mentioned in the Securities Contracts (Regulation) Act 1956 must be broadened to include crypto assets and Initial Exchange Offerings (IEO’s).
• The 2017 ban on importing ASIC-based machines or state-of-the-art application-specific integrated circuits must be revoked as it discourages Bitcoin mining in the country.
• Most of the Cryptocurrency exchanges in India comply with KYC/AML regulations to prevent illegal activities on their trading platforms.
• Profits made from digital currencies can be viewed as income from other sources, and gains from regular trading can be considered as income from speculative business.
• Even if Cryptocurrency is banned as a method of payment, it must at least be considered as a utility asset so that investors do not lose their money.
• Both cryptocurrencies and digital government currency can exist together without affecting each other.

The future of a fast-growing industry is at stake in India now. Crypto trading and transactions using digital currencies reached all-time highs in 2020. A blanket ban will move the sector backward. Regulations will remove the ambiguity for exchanges to stay in compliance with the law.

Cryptocurrencies can promote more financial inclusion and give users more control over their assets. The government can discuss these sensitive issues with the stakeholders of the industry instead of passing these impactful bills without any consultation.

#cryptocurrency #cryptocurrencynews #cryptoinvesmentnews

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How the Cryptocurrency ban in India will lead to the death of a growing industry?

With the Reserve Bank of India (RBI) planning to issue its own digital currency soon, the Government of India plans to restrict the supply of Cryptocurrencies in the country.

This comes as a huge blow to the industry after the Supreme Court removed the ban on banks providing services to crypto companies earlier imposed by the RBI.

For a long time in India, Cryptocurrency was neither prohibited nor legally permitted. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 has not been raised in the Parliament so far, nor has it been mentioned in the ongoing Union Budget session. However, the bill encourages blockchain technology and cryptography for different purposes in the financial services industry.

What will be the Consequences of the Upcoming bill if it is Passed?

• Close to 7 million Indian investors who hold more than $1 billion in digital assets will be affected directly, making their holding valueless.
• Many cryptocurrency startups, consultants, and exchanges may be forced to shut down their operations, leading to high unemployment.
• Foreign venture capitalists who have bet big on cryptocurrency businesses may decide to withdraw all their investments.
• Digital payments may expand with the issue of a central bank digital currency (CBDC). According to the Union Budget of 2021, Rs 1500 crores has been announced to promote online payments and reduce cash circulation in the country.
• It can lead to a lot of centralization of the money supply as Bitcoin and other cryptos are completely decentralized compared to a digital currency issued by an authority.
• It might trigger panic selling by investors in exchanges to reduce their investment exposure to digital currency assets.

Some Suggestions from the Industry are

• It is better to bring the Cryptocurrency industry under the control of authorities like the SEBI (Securities and Exchange Board of India) instead of opting for an outright ban on trading Cryptocurrencies.
• Blockchain technology can be used in many industries leading to Cryptocurrencies being viewed as a viable asset.
• Amendments can be made in the Income Tax and GST laws regarding tax laws for Cryptocurrencies, especially in the long-term and short-term crypto gains.
• Cryptocurrencies should be recognized as tradable commodities, just like financial instruments promoting them as an investment avenue.
• Changes can be made in the Foreign Exchange Management Act (FEMA) so that crypto exchanges can deal in foreign exchange without any restrictions.
• Favorable regulations will yield more benefits for the industry and put India on par with developed countries like the USA and China.
• The meaning of Securities mentioned in the Securities Contracts (Regulation) Act 1956 must be broadened to include crypto assets and Initial Exchange Offerings (IEO’s).
• The 2017 ban on importing ASIC-based machines or state-of-the-art application-specific integrated circuits must be revoked as it discourages Bitcoin mining in the country.
• Most of the Cryptocurrency exchanges in India comply with KYC/AML regulations to prevent illegal activities on their trading platforms.
• Profits made from digital currencies can be viewed as income from other sources, and gains from regular trading can be considered as income from speculative business.
• Even if Cryptocurrency is banned as a method of payment, it must at least be considered as a utility asset so that investors do not lose their money.
• Both cryptocurrencies and digital government currency can exist together without affecting each other.

The future of a fast-growing industry is at stake in India now. Crypto trading and transactions using digital currencies reached all-time highs in 2020. A blanket ban will move the sector backward. Regulations will remove the ambiguity for exchanges to stay in compliance with the law.

Cryptocurrencies can promote more financial inclusion and give users more control over their assets. The government can discuss these sensitive issues with the stakeholders of the industry instead of passing these impactful bills without any consultation.

#cryptocurrency #cryptocurrencynews #cryptoinvesmentnews

HAML Lint: Tool For Writing Clean and Consistent HAML

HAML-Lint

haml-lint is a tool to help keep your HAML files clean and readable. In addition to HAML-specific style and lint checks, it integrates with RuboCop to bring its powerful static analysis tools to your HAML documents.

You can run haml-lint manually from the command line, or integrate it into your SCM hooks.

Requirements

• Ruby 2.4+
• HAML 4.0+

Installation

gem install haml_lint

If you'd rather install haml-lint using bundler, don't require it in your Gemfile:

gem 'haml_lint', require: false

Then you can still use haml-lint from the command line, but its source code won't be auto-loaded inside your application.

Usage

Run haml-lint from the command line by passing in a directory (or multiple directories) to recursively scan:

haml-lint app/views/

You can also specify a list of files explicitly:

haml-lint app/**/*.html.haml

haml-lint will output any problems with your HAML, including the offending filename and line number.

File Encoding

haml-lint assumes all files are encoded in UTF-8.

Command Line Flags

Command Line Flag	Description
--auto-gen-config	Generate a configuration file acting as a TODO list
--auto-gen-exclude-limit	Number of failures to allow in the TODO list before the entire rule is excluded
-c/--config	Specify which configuration file to use
-e/--exclude	Exclude one or more files from being linted
-i/--include-linter	Specify which linters you specifically want to run
-x/--exclude-linter	Specify which linters you don't want to run
-r/--reporter	Specify which reporter you want to use to generate the output
-p/--parallel	Run linters in parallel using available CPUs
--fail-fast	Specify whether to fail after the first file with lint
--fail-level	Specify the minimum severity (warning or error) for which the lint should fail
--[no-]color	Whether to output in color
--[no-]summary	Whether to output a summary in the default reporter
--show-linters	Show all registered linters
--show-reporters	Display available reporters
-h/--help	Show command line flag documentation
-v/--version	Show haml-lint version
-V/--verbose-version	Show haml-lint, haml, and ruby version information

Configuration

haml-lint will automatically recognize and load any file with the name .haml-lint.yml as a configuration file. It loads the configuration based on the directory haml-lint is being run from, ascending until a configuration file is found. Any configuration loaded is automatically merged with the default configuration (see config/default.yml).

Here's an example configuration file:

linters:
  ImplicitDiv:
    enabled: false
    severity: error

  LineLength:
    max: 100

All linters have an enabled option which can be true or false, which controls whether the linter is run, along with linter-specific options. The defaults are defined in config/default.yml.

Linter Options

Option	Description
enabled	If false, this linter will never be run. This takes precedence over any other option.
include	List of files or glob patterns to scope this linter to. This narrows down any files specified via the command line.
exclude	List of files or glob patterns to exclude from this linter. This excludes any files specified via the command line or already filtered via the include option.
severity	The severity of the linter. External tools consuming haml-lint output can use this to determine whether to warn or error based on the lints reported.

Global File Exclusion

The exclude global configuration option allows you to specify a list of files or glob patterns to exclude from all linters. This is useful for ignoring third-party code that you don't maintain or care to lint. You can specify a single string or a list of strings for this option.

Skipping Frontmatter

Some static blog generators such as Jekyll include leading frontmatter to the template for their own tracking purposes. haml-lint allows you to ignore these headers by specifying the skip_frontmatter option in your .haml-lint.yml configuration:

skip_frontmatter: true

Inheriting from Other Configuration Files

The inherits_from global configuration option allows you to specify an inheritance chain for a configuration file. It accepts either a scalar value of a single file name or a vector of multiple files to inherit from. The inherited files are resolved in a first in, first out order and with "last one wins" precedence. For example:

inherits_from:
  - .shared_haml-lint.yml
  - .personal_haml-lint.yml

First, the default configuration is loaded. Then the .shared_haml-lint.yml configuration is loaded, followed by .personal_haml-lint.yml. Each of these overwrite each other in the event of a collision in configuration value. Once the inheritance chain is resolved, the base configuration is loaded and applies its rules to overwrite any in the intermediate configuration.

Lastly, in order to match your RuboCop configuration style, you can also use the inherit_from directive, which is an alias for inherits_from.

Linters

» Linters Documentation

haml-lint is an opinionated tool that helps you enforce a consistent style in your HAML files. As an opinionated tool, we've had to make calls about what we think are the "best" style conventions, even when there are often reasonable arguments for more than one possible style. While all of our choices have a rational basis, we think that the opinions themselves are less important than the fact that haml-lint provides us with an automated and low-cost means of enforcing consistency.

Custom Linters

Add the following to your configuration file:

require:
  - './relative/path/to/my_first_linter.rb'
  - 'absolute/path/to/my_second_linter.rb'

The files that are referenced by this config should have the following structure:

module HamlLint
  # MyFirstLinter is the name of the linter in this example, but it can be anything
  class Linter::MyFirstLinter < Linter
    include LinterRegistry

    def visit_tag
      return unless node.tag_name == 'div'
      record_lint(node, "You're not allowed divs!")
    end
  end
end

For more information on the different types on HAML node, please look through the HAML parser code: https://github.com/haml/haml/blob/master/lib/haml/parser.rb

Keep in mind that by default your linter will be disabled by default. So you will need to enable it in your configuration file to have it run.

Disabling Linters within Source Code

One or more individual linters can be disabled locally in a file by adding a directive comment. These comments look like the following:

-# haml-lint:disable AltText, LineLength
[...]
-# haml-lint:enable AltText, LineLength

You can disable all linters for a section with the following:

-# haml-lint:disable all

Directive Scope

A directive will disable the given linters for the scope of the block. This scope is inherited by child elements and sibling elements that come after the comment. For example:

-# haml-lint:disable AltText
#content
  %img#will-not-show-lint-1{ src: "will-not-show-lint-1.png" }
  -# haml-lint:enable AltText
  %img#will-show-lint-1{ src: "will-show-lint-1.png" }
  .sidebar
    %img#will-show-lint-2{ src: "will-show-lint-2.png" }
%img#will-not-show-lint-2{ src: "will-not-show-lint-2.png" }

The #will-not-show-lint-1 image on line 2 will not raise an AltText lint because of the directive on line 1. Since that directive is at the top level of the tree, it applies everywhere.

However, on line 4, the directive enables the AltText linter for the remainder of the #content element's content. This means that the #will-show-lint-1 image on line 5 will raise an AltText lint because it is a sibling of the enabling directive that appears later in the #content element. Likewise, the #will-show-lint-2 image on line 7 will raise an AltText lint because it is a child of a sibling of the enabling directive.

Lastly, the #will-not-show-lint-2 image on line 8 will not raise an AltText lint because the enabling directive on line 4 exists in a separate element and is not a sibling of the it.

Directive Precedence

If there are multiple directives for the same linter in an element, the last directive wins. For example:

-# haml-lint:enable AltText
%p Hello, world!
-# haml-lint:disable AltText
%img#will-not-show-lint{ src: "will-not-show-lint.png" }

There are two conflicting directives for the AltText linter. The first one enables it, but the second one disables it. Since the disable directive came later, the #will-not-show-lint element will not raise an AltText lint.

You can use this functionality to selectively enable directives within a file by first using the haml-lint:disable all directive to disable all linters in the file, then selectively using haml-lint:enable to enable linters one at a time.

Onboarding Onto a Preexisting Project

Adding a new linter into a project that wasn't previously using one can be a daunting task. To help ease the pain of starting to use Haml-Lint, you can generate a configuration file that will exclude all linters from reporting lint in files that currently have lint. This gives you something similar to a to-do list where the violations that you had when you started using Haml-Lint are listed for you to whittle away, but ensuring that any views you create going forward are properly linted.

To use this functionality, call Haml-Lint like:

haml-lint --auto-gen-config

This will generate a .haml-lint_todo.yml file that contains all existing lint as exclusions. You can then add inherits_from: .haml-lint_todo.yml to your .haml-lint.yml configuration file to ensure these exclusions are used whenever you call haml-lint.

By default, any rules with more than 15 violations will be disabled in the todo-file. You can increase this limit with the auto-gen-exclude-limit option:

haml-lint --auto-gen-config --auto-gen-exclude-limit 100

Editor Integration

Vim

If you use vim, you can have haml-lint automatically run against your HAML files after saving by using the Syntastic plugin. If you already have the plugin, just add let g:syntastic_haml_checkers = ['haml_lint'] to your .vimrc.

Vim 8 / Neovim

If you use vim 8+ or Neovim, you can have haml-lint automatically run against your HAML files as you type by using the Asynchronous Lint Engine (ALE) plugin. ALE will automatically lint your HAML files if it detects haml-lint in your PATH.

Sublime Text 3

If you use SublimeLinter 3 with Sublime Text 3 you can install the SublimeLinter-haml-lint plugin using Package Control.

Atom

If you use atom, you can install the linter-haml plugin.

TextMate 2

If you use TextMate 2, you can install the Haml-Lint.tmbundle bundle.

Visual Studio Code

If you use Visual Studio Code, you can install the Haml Lint extension

Git Integration

If you'd like to integrate haml-lint into your Git workflow, check out our Git hook manager, overcommit.

Rake Integration

To execute haml-lint via a Rake task, make sure you have rake included in your gem path (e.g. via Gemfile) add the following to your Rakefile:

require 'haml_lint/rake_task'

HamlLint::RakeTask.new

By default, when you execute rake haml_lint, the above configuration is equivalent to running haml-lint ., which will lint all .haml files in the current directory and its descendants.

You can customize your task by writing:

require 'haml_lint/rake_task'

HamlLint::RakeTask.new do |t|
  t.config = 'custom/config.yml'
  t.files = ['app/views', 'custom/*.haml']
  t.quiet = true # Don't display output from haml-lint to STDOUT
end

You can also use this custom configuration with a set of files specified via the command line:

# Single quotes prevent shell glob expansion
rake 'haml_lint[app/views, custom/*.haml]'

Files specified in this manner take precedence over the task's files attribute.

Documentation

Code documentation is generated with YARD and hosted by RubyDoc.info.

Contributing

We love getting feedback with or without pull requests. If you do add a new feature, please add tests so that we can avoid breaking it in the future.

Speaking of tests, we use Appraisal to test against both HAML 4 and 5. We use rspec to write our tests. To run the test suite, execute the following from the root directory of the repository:

appraisal bundle install
appraisal bundle exec rspec

Community

All major discussion surrounding HAML-Lint happens on the GitHub issues page.

Changelog

If you're interested in seeing the changes and bug fixes between each version of haml-lint, read the HAML-Lint Changelog.

Author: sds
Source Code: https://github.com/sds/haml-lint
License: MIT license

#haml #lint 

Could India's Remittance Sector Pave The Way For Crypto Adoption?

The historic judgement by the Supreme Court of India in March this year overturned the banking ban imposed by the Indian Central Bank RBI. The decision brought a lease of new life into the Indian crypto ecosystem where many were living in uncertainty for almost two years. The Supreme Court hearing not only helped the very few existing crypto startups and exchanges but also paved the path for many other entrepreneurs who were looking to start a crypto business outside India.

The overruling of banking ban helped exchanges to make it easier for customers to invest in cryptocurrencies by adding direct bank transfers and INR support. And the effect of the decision is visible today during the pandemic and countrywide lockdown where Indian exchanges have reported a 400% surge in trading volume.

The timely intervention by the supreme court surely helped the Indian ecosystem to come to the mainstream with several big firms like Binance, OKEx, Ripple and many more investing in Indian crypto startups. However, despite this boost, the Indian government still seems a bit passive towards the digital assets as rumours of a “parliamentary note” issued by the Finance Ministry asking for a blanket ban was the talk of the town only a couple of weeks ago.

Indian IT and Remittance Industry Could Further The Adoption

India is known as the IT outsourcing capital of the world and contributes 7.7% of India’s GDP and as per NASSCOM, the IT sector generated revenue of $180 billion in 2019. Given the rising demand for blockchain developers, smart contract developers and many similar IT needs of the decentralized space, India can not only add to the adoption cause but also help in building better solutions of tomorrow.

Even today, Indian crypto ecosystem has been representing the country’s potential in the decentralized space despite the uncertainty over its regulations. Some of the prime examples of Indian crypto startups which have had quite an impact in the decentralized space include

Matic: a blockchain scalability solution provider focused on Ethereum blockchain.

WazirX: Indian crypto exchange which was recently acquired by Binance.

CoinDCX: Indian crypto exchange offering derivatives trading and also recently launched a blockchain learning platform.

Apart from these well-established exchanges and firms, there are numerous developers, content creators who work freelance for other firms due to the absence of awareness and well-regulated market. Regulations would not only help develop the crypto ecosystem but also lure more people to the ecosystem and offer a chance to these freelancers to working on native projects full time.

Apart from the IT sector, cryptocurrencies could also find a huge adoption through remittance services in the form of a medium of transfer and has a great potential given India is the world’s largest population outflow country, with more than 17 million immigrants in 2019. This means a large population of the country make use of remmitance services which comes at a cost at the moment.

#india #india-remittance #cryptocurrency #cryptocurrency-regulation #india-crypto #crypto-adoption #blockchain #fintech

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Building the brand is the dream of every business coming on the Internet and this starts with a nicely designed website. You can outsource website design to India and this company, where web designers and developers are skilled enough to design simple yet attractive and robust websites. They hold expertise in web development, online store and ecommerce website development and even mobile app development.

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Visit More : https://articles.abilogic.com/submission-completed/489719

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