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Bank Collapses Underscore G-20 Hesitance on Crypto: Source
13.3.2023
The recent collapses of crypto banks have only underscored the hesitancy of the Group of 20 (G-20) on crypto assets, a highly placed G-20 source said
India Brings Crypto Transactions Under Prevention of Money Laundering Act
11.3.2023
India’s finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA). Noting that the move “is a positive step in recognizing the sector,” a crypto insider explained that it will strengthen the industry’s...
India's Crypto Regulation Now Has Teeth, Experts Say
9.3.2023
Bringing crypto companies into the purview of anti-money laundering rules imposes obligations and exposes them to fines for breaches
India's Crypto Businesses Handed Anti-Money Laundering Obligations for First Time
8.3.2023
They will have to register with the Financial Intelligence Unit and voluntarily report suspicious activities
India Asks IMF and FSB for Joint Paper to Help Formulate ‘Comprehensive’ Crypto Policy
26.2.2023
India has asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to develop “a synthesis paper” on crypto assets as part of the G20 meeting of finance ministers and central bank governors under India’s presidency. “This would help in the formulation...
Indian Finance Minister Pushes for International Cooperation on Crypto Regulation — Discusses Awareness Campaign
23.2.2023
Indian Finance Minister Nirmala Sitharaman has stressed the importance of international cooperation in order to regulate the crypto sector. She also confirmed that Indian regulators’ crypto awareness campaign will continue to alert people about the risks of investing in crypto. Indian Finance...
India Having ‘Detailed Discussions’ With G20 Members on Crypto Regulation
14.2.2023
India is having “detailed discussions” with other G20 members about forming a collective standard operating procedure (SOP) to regulate crypto assets, Indian Finance Minister Nirmala Sitharaman has revealed. She also called for “a globally coordinated approach on the regulation...
Indian Government Introduces New Crypto Tax Penalties
2.2.2023
The Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed...
India Highlights Need for ‘Common Approach to Regulating Crypto Ecosystem’
1.2.2023
India’s Finance Ministry has highlighted the necessity for “a common approach to regulating the crypto ecosystem” in its flagship Economic Survey this year. “Crypto assets are self-referential instruments and do not strictly pass the test of being a financial asset because...
Crypto India Looks for Relief but Holds Out Little Hope in Budget Speech
30.1.2023
India is unlikely to change its restrictive crypto tax rules when Finance Minister Nirmala Sitharaman unveils the country’s new budget on Wednesday, CoinDesk has learned
Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official
21.1.2023
An Indian government official says that there is currently nothing that outlaws crypto in India “as long as you follow the legal process.” Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), has stressed that “cryptocurrency does not have any underlying...
Indian Government Launching Crypto Awareness Campaign
4.1.2023
The government of India is launching a crypto awareness campaign that will educate investors about the legality of cryptocurrencies in the country while highlighting the risks of investing in crypto assets. Indian Government’s Cryptocurrency Awareness Campaign The Indian government...
G20 Countries to Build Crypto Policy Consensus for Better Global Regulation
18.12.2022
The G20 countries aim to build a policy consensus on crypto assets for better global regulation. “After the crypto meltdown which we have seen recently, it is clear that we need internationally agreed standards on regulation,” said the International Monetary Fund (IMF)’s deputy...
India Freezes Additional Bitcoin Amid Mobile Gaming App Investigation
21.10.2022
India’s Enforcement Directorate (ED) says it has frozen 44.5 more bitcoins as part of an ongoing money laundering investigation into mobile gaming app E-nuggets. The authority has already frozen nearly 86 bitcoins at crypto exchange Binance relating to the same investigation. India’s...
India to Discuss Crypto During G20 Presidency to Establish Tech-Driven Regulatory Framework, Says Finance Minister
18.10.2022
India plans to discuss crypto regulations during its G20 presidency with member countries. Finance Minister Nirmala Sitharaman has revealed that the Indian government hopes to arrive at a framework or standard operating procedure (SOP) so that countries globally “can have a technology-driven...
Indian Government Working on How GST Tax Could Be Applied to Crypto
22.9.2022
India’s ministry of finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. “A better understanding of how cryptocurrencies fit into our legal system is the prerequisite for the decision on the GST rate,” a source told local...
Indian Finance Minister Urges IMF to Lead in Regulating Crypto — Georgieva Says IMF Ready to Work With India
10.9.2022
India’s finance minister, Nirmala Sitharaman, has urged the International Monetary Fund (IMF) to take “a lead role” in regulating crypto assets. IMF Managing Director Kristalina Georgieva says the global organization stands ready to work with India on climate change, crypto...
Indian Finance Minister: Crypto Ban, Regulation Effective Only With Significant International Collaboration
19.7.2022
India’s finance minister has informed parliament that the central bank, the Reserve Bank of India (RBI), wants cryptocurrencies to be prohibited. However, she noted that “any legislation for regulation or for banning can be effective only after significant international...
CBDCs can “kill” private crypto: India's RBI deputy governor to IMF
4.6.2022
“One of the reasons it is so successful is because it's simple,” he added while comparing the Unified Payments Interface's (UPI) growth with blockchain technology
Indian Government Finalizing Crypto Consultation Paper — ‘We Are Looking at a Global Paradigm on Digital Assets’
31.5.2022
India’s economic affairs secretary has reportedly revealed that the government’s consultation paper on cryptocurrency is “fairly ready.” He explained that the Indian government is looking at “a global paradigm on digital assets,” emphasizing that...