The Architect of India's Crypto Bill 📝Says India is Misinterpreting the Private Crypto Ban

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ROI Overload is a daily radio show/video podcast show focused on the latest in trending topics in business, tech, finance and startups hosted by Scott D. Clary (@scottdclary).

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Welcome to Roy Overload daily business, tech and finance news. I'm Scott declary. This is what's making use today. The architect of India's cryptobill says India is misinterpreting the private Cryptoban UK's Market Authority orders Meta, formerly facebook, to sell giffee e commerce. Giant ebay acquires sneaker Khn, a sneaker authentication service, and cloud truck secures a hundred fifteen million dollars in funding to make the trucking business easier. Let's jump right into it. So first story of the day. The architect of India's Crypto Bill says India is misinterpreting the private cryptoband. So a few days ago there was absolute chaos in the Indian crypto market, with almost every cryptocurrency on India's Premiere Crypto Exchange, Wi our X, in red. The main culprit behind this blood bath was the infamous crypto bill which, quote unquote, seeks to prohibit all private cryptocurrencies in India. Whoever, it allows for certain exceptions to promote the underlying technology and its uses.

But Subash Gay, the creator of the previous Crypto Bill, set in an interview with a local television station. The people in India are mistaken by believing that the bill intends to ban private cryptocurrencies. Gay also pointed out that issues and recognizing cryptocurrencies as assets were supposed to be covered under the bill. He said, you don't classify the wheat you produce, you don't classify the clothes you produce as assets. That is too much of an oversimplification to treat this as an asset. So it'll be interesting to see how this bill actually unfolds in terms of what it actually impacts in the Indian cryptocurrency market. UK's Market Authority orders met at the sell gife. So the United Kingdoms Competition to markets authority or CMA, in an official ruling, or to order Meta, previously facebook, sell give fee, the popular gift Creator and sharing site. The Authority believes that met as ownership of Gif fee, is against the ethos of free market, as it tips of scales in the Competitive Social Media Marketing in...

Meta's favor. The CMA believes that medic and leverage their ownership over give fee by preventing access to the platform and directing the traffic to Meta own social media platforms like facebook, instagram, and what's APP this is a first incident in which to Cema has demanded to unwind a company acquisition that is already been acquired by a tech giant. Another acquisition story, not unwinding, but truly acquiring ECOMMERCE giant ebay. They just acquired sneaker con and Sneaker Identification Service. The counterfeit sneaker industry is huge. Many market research reports estimate that the industries value is in the one billion to one point five billion dollar range. The vast network of faith sneaker sellers is causing fear and anxiety amongst buyers paying for genuine products. To alleviate their fears, sneaker con a came to market. They offer a sneaker authentication service allowing buyers to verify the products authenticity. Once the verification is complete, the sneaker is sent to the buyers with a tag that shows the sneaker has been verified and is found to be original. Sneaker con and Ebay entered a partnership in two thousand and twenty and since then, any...

...sneakers that are priced above a hundred bucks have to pass through the sneaker con vetting process. So far, one point five five million dollars worth of, oh, sorry, one five five million sneakers in total have been verified on ebase. So obviously the total dollar value is much, much larger than that. Recently, Ebay acquired sneaker Cohn, and with this acquisition of Sneaker Khan, ebay is, of course, trying to place itself at the forefront of the online sneaker marketplace. And lastly, in more Startup News, cloud truck nabs a hundred fifty million dollars to make the trucking business easier. So the trucking business is complex and therefore, to help out trucking entrepreneurs, cloud truck is offering business management software to make the whole thing easier. The software allows trucking companies to manage multiple aspects of their trucking business, which involve cash flow, cost revenue in turns and more. To increase its head count and expand its services, cloud truck recently secured a hundred and fifteen million dollars in a series be funding round. Trucking Business Management Soft provider is hiring all across the...

...country, doubling down on its efforts to hire more data scientists and engineers and customers support professionals. As pressimates, the freight movement is expected to reach twenty five, point five billion tons by two thousand and twenty five, from seventeen point four. so up from seventeen point four billion tons in two thousand and fifteen, showing massive growth. It shows at the freight movement industry is a growing at a rapid pace, even while under pressure from a talent crunch and lack of innovation in the space. In fact, the loid predicts that the industry will be hit hard by a shortage of roughly two hundred and Eightyzero truck drivers by two thousand and twenty eight. So the space is growing and the talent is in keeping up. And in other news from around the Internet, the BITCOIN network is processing ninety FIVEZERO dollars US d at a one dollar per transaction fee. So data from glass nodes shows that BITCOIN NETWORKS ON CHANGE SETTLEMENT efficiencies improving at a rapid pace. For the last few weeks, the BITCOIN...

...network has facilitated the transfer of ninety five hundred forty two dollars in value and only needed one dollars in fee to confirm the transaction and process of transaction and pside code secures fifty six million dollars in funding to enable businesses secure deveops and software supply chains. So the Israeli based side Code. They just secured fifty six million in a series be funding around to secure software supply chains. The funding round was led by inside partners. Investors were impressed with pside codes performance this year, as it's rr saw an x growth in the first three quarters of two thousand and twenty one. anyways, that is it for today. Hope you found value in this. If you did share it with one other person, they can go subscribe for daily business, Tech and Finance News and newsletter dot Roy overloadcom. Have a great day. I'll see it's a.

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