The Indian government-owned IIT Delhi has partnered with Binance to provide non-fungible NFT tickets during its three-day cultural fest, despite the regulatory hammer on digital assets like NFT, Bitcoin BTC USD, Shiba Inu SHIB USD and Doge coin DOGE USD.
According to the report, the head of Binance's Asia-Pacific, Leon Foong, said he was happy to provide his company's infrastructure and platform to educate students in Web 3,Blockchain, andCryptocurrencies.
Binance is the title sponsor for the cultural festival, underscoring the rising trend of cryptocurrencies in the country where more and more Indians are buying digital assets.
The regulatory atmosphere in the country is hostile as the government plans to tighten provisions for the use of cryptocurrencies.
In an IMF meeting recently, Indian Finance Minister Nirmala Sitharaman reiterated the country's attitude towards cryptocurrencies. She expressed concern over the risks of cryptocurrencies in unregulated environments and highlighted the need for coordinated efforts to mitigate them and the development of central bank digital currencies.
Price Action: According to data from Benzinga Pro, the price of Bitcoin was trading at $40703, gaining 0.55% in the last 24 hours, while Shiba Inu and DogeCoin were up 1.19% and 0.59% over the same period.