Indian Railways is set to issue non-fungible token (NFT)-based train tickets to all passengers travelling to the MahaKumbh Mela.
On January 13, 2025, Blockchain firm Chaincode Consulting announced a partnership with the Indian Railway Catering and Tourism Corporation (IRCTC) to digitise the spiritual journey of millions of pilgrims to the MahaKumbh Mela.
These NFTs will be minted over the Polygon Blockchain and will be made available through the real-world assets (RWAs) and traceability platform, NFTtrace.
Indian Crypto Exchange Mudrex Explains Withdrawal Suspension
Indian cryptocurrency exchange Mudrex has temporarily halted withdrawals, triggering a wave of backlash from the crypto community. Mudrex paused crypto withdrawals on its platform on January 11, 2025, leaving the users puzzled about the abrupt decision.
According to Cointelegraph, the company said that the suspension is only till January 28, 2025 and is aimed at upgrading the platform’s compliance framework to prevent misuse by bad actors.
Edul Patel, co-founder and CEO, Mudrex, said: “You need to do that with something as critical as crypto. If the infrastructure is not correct, it is very easy for it to be misused for nefarious activities. As a responsible platform, we need to make sure that our systems are in place and we are improving the services at all points in time.”
Mudrex is one of the few crypto exchanges in India that allows crypto withdrawals. “We are the only company that has had crypto withdrawals in India for the last three-and-a-half years now, and we continue to stick with that,” said Patel.
Singapore Blocks Access To Polymarket Over Unlicensed Gambling Concerns
As a part of crackdown on unlicensed gambling platforms, Singapore has blocked access to Polymarket, a cryptocurrency-based prediction market. Multiple users reported on January 12, 2025 that they were unable to access Polymarket in Singapore.
The investment and custody vice president at Cobo Global, Alex Zuo posted on X (formerly Twitter): “Polymarket is officially defined as a gambling website in Singapore. If you want to place a bet, you can only go to a state-owned gambling company. Otherwise, you will face fines and imprisonment.”
Visitors who attempt to access the site from Singapore will receive a warning referencing Section 20 of the Gambling Control Act, 2022. This Act imposes fines of up to 10,000 Singapore Dollars, jail terms of up to six months, or both, for gambling with unlicensed operators.
“You have attempted to access an illegal gambling site hosted by an unlicensed gambling service provider. Singapore Pools is the only licensed online gambling operator in Singapore,” reads the warning from the Gambling Regulatory Authority (GRA).
