Skip to main content

Cryptocurrency Jobs Peak in These Indian Cities

Cryptocurrency Jobs Peak in These Indian Cities

Demand for skilled professionals in the crypto space has been steadily rising, according to new data that ranks cities in India based on the number of jobs in the cryptocurrency field. Some cities such as Mumbai dropped several places from last year’s ranking while a couple of others are new to the list.

Also read: Indian Supreme Court Gives Government 4 Weeks to Produce Crypto Regulation

Hottest Cities for Crypto Jobs

According to new data from job listing site Indeed, Bengaluru is the number one city in India for crypto jobs, followed by Pune, the second largest city in the Indian state of Maharashtra. Mumbai dropped from the second hottest place for crypto jobs last year to the seventh place this year. Money Control elaborated:

Bengaluru maintained the lead as the city with the most jobs in the cryptocurrency field … Pune is followed by Hyderabad, Noida and Gurgaon, making up the top five destinations for crypto-careers in India.

Two cities which were not on the previous list made the top ten list this year: Ahmedabad and Thiruvananthapuram. “While northern markets see consistent demand, the numbers still do not compare to their southern counterparts,” the news outlet noted. Bengaluru is home to Unocoin, a major cryptocurrency exchange in India.

Cryptocurrency Jobs Peak in These Indian Cities

“Given the enormous scope of blockchain technology, crypto careers offer newer avenues to explore, provided one has the requisite skills,” explained the director of Indeed India, Venkata Machavarapu. “Demand for such skilled professionals has been steadily on the rise, as observed in 2018, with technology hubs such as Bengaluru and Hyderabad continuing to create the maximum number of opportunities.”

Uncertain Crypto Regulatory Environment

The Indian government is actively working on cryptocurrency regulation. The country’s supreme court on Monday gave the government four weeks to come up with a clear legal framework for cryptocurrencies. The court will then hear the petitions against the crypto banking ban by the central bank, the Reserve Bank of India (RBI), as well as other crypto-related petitions.

Cryptocurrency Jobs Peak in These Indian Cities

The central bank issued a circular in April last year, banning all financial institutions under its control from providing services to crypto businesses, effective three months later. Since then, a number of crypto businesses have been hampered. Zebpay, formerly one of the largest crypto exchanges in the country, had to close down its local crypto exchange activities due to the banking restriction. Other exchanges have come up with creative solutions such as offering exchange-escrowed peer-to-peer (P2P) services.

The government committee headed by Subhash Chandra Garg, Secretary of Economic Affairs, is in charge of drafting the regulation. Recommendations are reportedly being finalized. In January, the Ministry of Finance invited law firm Nishith Desai Associates to present their suggestions for the crypto regulation. Last week, Indian policymakers gathered at a blockchain summit and agreed on the importance of establishing a legal framework for cryptocurrencies.

What do you think of these top cities for crypto jobs in India? Let us know in the comments section below.

Images courtesy of Shutterstock, Money Control, and news.Bitcoin.com.

Need to calculate your bitcoin holdings? Check our tools section.

The post Cryptocurrency Jobs Peak in These Indian Cities appeared first on Bitcoin News.



from Bitcoin News https://ift.tt/2GMH9GH
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more