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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...
India to Finalize Stance on Legality of Cryptocurrency by Q1 2023: Report
21.9.2022
The Indian government is reportedly planning to finalize its stance on the legality of cryptocurrency by the first quarter of next year in order to become Financial Action Task Force (FATF) compliant. “We will finalize our responses by February-March 2023. We have to respond to the FATF...
Totality Corp CEO explains why India is still largely untapped for NFTs
21.9.2022
Despite a strong emphasis on “social status” in India, holding a Bored Ape Yacht Club NFT there isn’t impressing anyone
Oman's Indian embassy Twitter account compromised to promote XRP scam
20.9.2022
The hackers behind the attack may have been responsible for breaching India-based crypto exchange CoinDCX’s Twitter account given the similar fake XRP giveaways
Indian exchange WazirX follows Binance in delisting USDC
19.9.2022
Just like Binance, India-based exchange WazirX will implement BUSD auto-conversion for balances of USDC, USDP and TUSD at a 1:1 ratio in October
Vietnam, Philippines, India, China Among Top Countries for Crypto Adoption, Chainalysis Global Index Shows
16.9.2022
Blockchain analytics firm Chainalysis has published its 2022 cryptocurrency adoption index. Vietnam, the Philippines, India, and China are among the countries with the highest crypto adoption. While the overall adoption slows worldwide in bear markets, it “remains above pre-bull market...
Binance Grows Fast in India as Home Market Exchanges Forced to Implement 1% Tax
15.9.2022
India’s 1% tax on crypto transactions is causing the country’s crypto traders to flee local crypto exchanges, but some major players are benefiting from this trend. For Binance, the controversial levy has generated additional 429,000 downloads of the exchange’s app last August, its highest result...
Binance Sees Record Increase in Indian Users After Government Starts Imposing New Crypto Tax
15.9.2022
The number of Indian users on cryptocurrency exchange Binance has soared after the Indian government began levying taxes on crypto transactions. Meanwhile, daily trading volumes at some major India-based cryptocurrency exchanges are down over 90% since the new tax rules took effect. Binance Sees...
Indian Authorities Unfreeze Wazirx’s Bank Accounts, the Crypto Exchange Says
13.9.2022
India’s Enforcement Directorate (ED) has unfrozen the bank accounts of cryptocurrency exchange Wazirx, the company said. The accounts were frozen as part of the federal agency’s investigation into 16 fintech companies and instant loan apps. Wazirx Says Its Bank Accounts Are...
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
India's ED 'Unfreezes' Bank Account of Crypto Exchange WazirX
12.9.2022
The development is related to an ongoing investigation of 16 fintech companies over alleged fraud on instant loan apps, which are apps that make short-term loans. "Some out of them have happened to use the WazirX platform," said a company blog post. "WazirX has been cooperating with...
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...
India’s Central Bank RBI Starts Digital Currency Pilot With 4 Banks: Report
7.9.2022
India’s central bank, the Reserve Bank of India (RBI), has reportedly asked four banks to pilot the country’s central bank digital currency (CBDC) ahead of its public launch. RBI to Pilot India’s CBDC With Public-Sector Banks The Reserve Bank of India (RBI),...
Reserve Bank of India preparing to trial a CBDC with public sector banks and fintechs
5.9.2022
The trial may lead up to the introduction of a CBDC in India before the end of this fiscal year, most likely in three steps; U.S.-based FIS is reportedly participating
Rome’s Financial Volatility to Shock the Eurozone — Hedge Funds Bet $39 Billion Against Italian Debt
4.9.2022
Hedge funds are betting against Rome’s liabilities as S&P Market Intelligence data indicates investors have amassed a $37 billion short bet against Italian debt. The hedge funds are betting large against Italian bonds and investors haven’t bet this high against Rome since 2008...
India Surpasses UK as World’s 5th Largest Economy Based on IMF Data
4.9.2022
India is now the world’s fifth-largest economy after surpassing the U.K., the latest data from the International Monetary Fund (IMF) shows. India’s former chief economic advisor expects the country to become the world’s third-largest economy by 2028-30. India Becomes...
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 Crypto Market Is Growing: Report Shows the Country Has 115 Million Crypto Investors
27.8.2022
A new report shows that India has roughly 115 million crypto investors, and the country’s crypto economy is growing despite the recent market downturn, with more than half of the crypto investors surveyed planning to increase their crypto investments in the coming six months. Indian Crypto...
Zipmex Engages Financial Advisors, 16 Afghan Exchanges Shut Down, CoinSwitch Kuber Raided, Singapore Sends Questionnaires to Crypto Firms + More News
26.8.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________...
Read More: Zipmex Engages Financial Advisors, 16 Afghan Exchanges Shut Down, CoinSwitch Kuber Raided, Singapore Sends Questionnaires...
India’s Central Bank Governor Warns Crypto Market May Crash and Small Investors Will Lose Money
26.8.2022
RBI Governor Shaktikanta Das has warned that the crypto market may crash and small investors will lose money. He added that the central bank believes that its warnings have deterred many people from investing in cryptocurrencies. RBI Governor’s Crypto Warnings The governor of the Indian...