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India’s Crypto Trading Volume Plunges Further as Mobikwik Stops Payment Service
12.4.2022
Cryptocurrency trading volumes in India have plunged further across exchanges as traders mull over the 30% crypto taxation. In addition, popular payment service provider Mobikwik has stopped service to exchanges. Crypto Trading Volume in India Plunges Further Cryptocurrency trading volume in India...
Multiple Indian Official Twitter Accounts Hacked, NFT Content Posted
11.4.2022
Accounts of a high profile state chief minister, political parties and government institutions were compromised
India’s Digital Currency to Take ‘Very Calibrated, Graduated’ Approach, Says RBI Deputy Governor
9.4.2022
Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar has outlined the implications of India issuing a central bank digital currency, the digital rupee. ”I think central banks would go about it in a very calibrated, graduated manner, assessing impact all along the line,”...
Crypto Exchange Coinbase Launches in India — Quickly Runs Into Trouble With UPI Payment System
8.4.2022
Cryptocurrency exchange Coinbase has announced that it is launching full-scale crypto trading in India with Unified Payments Interface (UPI) support. However, moments later, the National Payments Corporation of India (NPCI), which developed UPI, stated that no crypto exchange is using the...
Indian Parliament Member Insists Crypto Is Like Gambling — Wants to Tax at 50%
7.4.2022
An Indian parliament member says crypto is like gambling and must be taxed at a very high rate, such as 50%. “We need to discourage and disincentivize” trading and investing in the asset class, he stressed. Indian Parliament Member Wants to Tax Crypto at 50% Indian parliament member...
Coinbase Focuses on Crypto and Web3 in India — Plans to Hire 1,000 for Indian Hub
5.4.2022
Coinbase is focusing on growing the crypto and Web3 ecosystem in India. “Combined with India’s world-class software talent, we believe that crypto and web3 technology can help accelerate India’s economic and financial inclusion goals,” said CEO Brian Armstrong. Coinbase...
Coinbase to invest in Indian crypto and Web3 amid tax regulation clarity
4.4.2022
Coinbase Ventures will conduct an in-person pitching event in Bengaluru to help accelerate India's financial inclusion goals via crypto and Web3 investments
Indian Gaming Firm MPL Could Attract Investment From FTX: Report
4.4.2022
MPL is looking to raise investment as part of its Series E extension at a valuation of $2.5 billion
Indian Government Consulting With IMF, World Bank on Crypto Policy
2.4.2022
India’s government is consulting with the International Monetary Fund (IMF), the World Bank, and Indian regulators in order to form the country’s crypto policy. “We have reached out to institutional stakeholders within the country and outside. We are taking inputs from the...
30% crypto tax becomes law in India following Finance Bill approval
31.3.2022
India’s new crypto tax policy is based on its gambling and lottery ticket win tax rules, that is set to come into effect from April 1
Indian state gov't uses Polygon to issue verifiable caste certificates
29.3.2022
In partnership with LegitDoc, the Maharashtra government is in the process of rolling out 65,000 caste certificates to aid the process of delivering governmental schemes and benefits
Indian Parliament Member Asks Government to Tax Crypto Income More Than 30%
29.3.2022
An Indian parliament member has urged the government to increase the tax on crypto income from the current proposed rate of 30%, stressing that crypto trading is similar to gambling. He has also requested that the goods and services tax (GST) be imposed on the total transaction value of crypto....
Indian Government Reveals 11 Crypto Exchanges Investigated for Tax Evasion, $13 Million Recovered
29.3.2022
The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them. 11 Crypto Exchanges Investigated for Tax Evasion The Indian government answered some...
Law Decoded: Crypto taxes and taxes on crypto, March 21–28.
29.3.2022
Some jurisdictions are introducing digital assets as tax payment options while others levy hefty taxes on crypto gains
Parliament Member Says 1% TDS Will Kill Crypto Asset Class in India, Urges Government to Reconsider
28.3.2022
An Indian parliament member has warned that imposing a 1% tax deducted at source (TDS) on every crypto transaction will kill the nascent asset class. This tax provision is contained in Finance Bill 2022 which Lok Sabha, the lower house of India’s parliament, has passed. However...
Crypto tax policy framework passes India's parliament despite pushback from lawmakers
25.3.2022
Under the framework, those conducting crypto transactions will be subject to a 30% tax starting on April 1, while the 1% TDS requirement will take effect on July 1
Tax man: India’s new tax policies could prove fatal for crypto industry
24.3.2022
India’s crypto tax policy is set to become law on March 24. However, stakeholders believe it could eradicate small-time traders and derail the thriving industry
Indian Superstar Amitabh Bachchan Pays Up After Tax Authorities' Action On Platform Hosting His NFTs
23.3.2022
The platform featuring Amitabh Bachchan's NFTs was sent a follow up notice by an Indian tax agency
Indian Crypto Industry Mulls Supreme Court Move as Tax Break Expectations Disappear
22.3.2022
The fading hope is that the government may reduce the 1% tax deducted at source, but expectations of a tax break on crypto capital gains have all but disappeared
Indian Government Imposes New Crypto Laws Affecting Investor Sentiment
22.3.2022
It has been obvious for so long that the Indian Government viewed the advent of cryptocurrencies to be a danger to the economy. So, finance minister Nirmala Sitaraman announced various policies related to the crypto industry in the budget for 2022. It included the creation of a new centralized...