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Indian authorities unfreeze millions in locked WazirX bank accounts
12.9.2022
The Indian crypto exchange was under investigation by local authorities for money laundering allegations which caused a freeze on over $8.1 million in bank account funds
Indian Authorities Search Crypto Exchange Coinswitch Kuber — CEO Says It’s Not Related to Money Laundering
27.8.2022
India’s Enforcement Directorate (ED) has conducted searches at five premises linked to popular cryptocurrency trading platform Coinswitch Kuber. The company says its engagement with the ED was not related to any money laundering inquiry. The federal agency recently froze the assets of...
Indian authorities freeze $8.1M in WazirX funds as part of AML investigation
5.8.2022
The Directorate of Enforcement of India alleged that WazirX "actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route."
Indian Government Raids Director of Binance-Owned Crypto Exchange WazirX, Freezes $8.14M
5.8.2022
The Directorate of Enforcement (ED) has seized bank assets belonging to crypto exchange WazirX in light of a government probe
India needs global collaboration to decide on crypto's future, says finance minister
18.7.2022
Indian finance minister reiterated RBI’s stance on the crypto market, claiming it’s driven by speculation
The regulatory implications of India’s crypto transactions tax
18.7.2022
India’s introduction of new crypto taxes had a negative impact on overall trading, forcing entrepreneurs to move to friendlier jurisdictions
India Hikes Duty on Imported Gold, Seeking to Bring Down Trade Deficit
6.7.2022
In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are fears the import duty hike will spur a resurgence in the smuggling of the commodity. India’s...
Indian Government’s Chief Economic Adviser Warns of Danger in Crypto, Defi Without Regulation
12.6.2022
The Indian government’s chief economic adviser has warned about innovations like crypto and decentralized finance (defi) in the absence of regulation. “We may not be fully aware or comprehend the kind of forces we are unleashing ourselves,” he opined. Indian Government’s...
Indian Regulator: Crypto’s Decentralized Nature Makes Regulation Challenging
8.6.2022
India’s market regulator, the Securities and Exchange Board of India (SEBI), says the decentralized nature of crypto assets makes consumer protection and regulatory enforcement challenging. SEBI on Crypto Regulation The Securities and Exchange Board of India (SEBI) reportedly told...
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
India cooperates with IMF on crypto consultation paper
31.5.2022
The document, which could define a national framework for digital assets, is almost ready
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...
India to roll out CBDC using a graded approach: RBI Annual Report
28.5.2022
Halfway through 2022, at the proof of concept stage, RBI is in the process of verifying the feasibility and functionality of launching a CBDC
Indian government's ‘blockchain not crypto’ stance highlights lack of understanding
19.5.2022
India’s “blockchain, not crypto” stance has led to disastrous crypto policies, forcing several thriving crypto firms to relocate
Indian central bank’s 'informal pressure' disrupted payments: Coinbase CEO
11.5.2022
"I guess we have a concern that [the Reserve Bank of India] may be actually in violation of the Supreme Court ruling," said Coinbase CEO Brian Armstrong
India Considers Imposing 28% GST on All Crypto Transactions: Report
10.5.2022
The Indian government is reportedly considering imposing a 28% goods and services tax (GST) on all crypto transactions. “Currently tax is levied only on the part of the services provided by crypto exchanges. Subjecting the whole transaction to tax at a higher slab of 28% could give...
Indian IT Ministry directs crypto exchanges to store user data for 5 years
2.5.2022
The new directives for VPN service providers and crypto exchanges would require them to collect critical private information as well as the ownership patterns of customers
India Exploring Commercial Uses for Central Bank Digital Currency, Says Finance Minister
1.5.2022
The Indian government is exploring “several commercial use purposes and not just financial inclusion” for its central bank digital currency. India’s finance minister clarified that the aim is for the digital rupee, which will be backed by the Reserve Bank of India (RBI), to...
Brain drain: India’s crypto tax forces budding crypto projects to move
20.4.2022
Several Indian cryptocurrency projects are planning to move their bases to more crypto-friendly jurisdictions
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,”...