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The Elevation Capital-backed firm’s decision to fold its product comes just months after rival Flint also shut its ‘yield-bearing’ product citing regulatory challenges.

The RBI’s unusually harsh order raises deeper questions about management credibility—and whether investors should take assurances at face value.
The regulator’s proposals to introduce checks and safety features in instant payments, if implemented, may end up testing banks.
The Capital Market Authority consolidates oversight, tightens compliance and reworks how virtual assets operate in the country.