On August 10, Cryptocurrency exchange CoinDCX said it raised $90 million led by Eduardo Saverin, Facebook Co-founder’s fund B Capital, valuing it at $1.1 billion. The deal makes CoinDCX, India’s first crypto unicorn.

The government said that it would take all precautionary measures to eliminate illegal activities with the use of crypto assets in funding as part of the payment system.

Pankaj Chaudhary, the Minister of State for Finance said in a written reply to the Rajya Sabha that the government will proactively explore the use of blockchain technology.