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India has no plans to regulate crypto sales and purchases
7.8.2024
Despite tightening measures against money laundering and terror financing, India has no immediate plans to regulate cryptocurrency transactions
CoinDCX introduces protection fund to secure Indian crypto users
7.8.2024
CoinDCX's Crypto Investors Protection Fund will enhance user security by allocating 2% of brokerage income annually to safeguard assets
Post WazirX Hack, India's CoinDCX Starts Investor Protection Fund With $6M
7.8.2024
Indian crypto exchange CoinDCX's co-founder Sumit Gupta has told CoinDesk that his company has established an investor protection fund, saying that if other exchanges did this too "it would be better for the eco system."
Wazirx Announces FIR Filing Following Major Cyberattack
6.8.2024
Indian crypto exchange Wazirx has updated users about the recent cyberattack, confirming the filing of a First Information Report (FIR) to address the hack. Cofounder Nischal Shetty emphasized that a police complaint was made the day after the attack. The FIR, filed nearly 20 days later, is part...
Binance Hit With $87 Million Tax Bill in India
6.8.2024
Global crypto exchange Binance has received a goods and services tax (GST) bill of Rs 722 crore ($87 million) in India for non-compliance with the country’s tax regulations. This is the first instance of a cryptocurrency firm facing such scrutiny in India. A source claimed that Binance earned...
Binance Challenges $86M Tax Demand From India’s DGGI
6.8.2024
Binance, the world’s largest crypto exchange, is challenging a substantial tax notice issued by Indian authorities. The Directorate…
India demands $91.9M from Binance in unpaid GST taxes
6.8.2024
Binance faces a demand for nearly $92 million in unpaid GST from Indian authorities, aiming to resume operations after a previous ban
Binance Has Challenged India's $86M Tax Showcause Notice: Source
6.8.2024
Binance, the world's largest cryptocurrency exchange, has "challenged" a nearly $86 million tax notice from India's Directorate General of Goods and Services Tax Intelligence (DGGI), a person directly involved with the matter told CoinDesk
Google Pay, Amazon Pay, Walmart-Backed Phonepe Eye Entry Into RBI’s Digital Rupee Program
6.8.2024
Google Pay, Amazon Pay, and Walmart-backed Phonepe are reportedly seeking to join India’s central bank digital currency (CBDC) initiative led by the Reserve Bank of India (RBI). Other fintech firms like Cred and Mobikwik are also seeking participation. These companies aim to facilitate...
India’s Crypto Raid Uncovers Massive Fraud in Ladakh
4.8.2024
India’s Enforcement Directorate (ED) has executed its inaugural raid in the Leh Ladakh region to investigate fraudulent cryptocurrency activities under the Public Money Laundering Act (PMLA). The operation targeted six locations across Leh in Ladakh, Jammu in J-K, and Sonipat in Haryana...
Indian Court Reaffirms Legality of Cryptocurrency, Grants Bail to Yes World CEO
3.8.2024
The Orissa High Court in India has reaffirmed that cryptocurrency trading and transactions are neither banned nor deemed illegal in India. Citing the legality of crypto, the court granted bail to Sandeep Chowdhury, CEO of Yes World, who was accused of defrauding investors through a Ponzi scheme...
Indian Survey Reveals Impact of Crypto Taxes and Anti-Money Laundering Rules on Investors
2.8.2024
India should consider revising its taxes on crypto and not depend on its anti-money laundering rules to reverse the impact of those high taxes, a survey of Indian investors by a New Delhi-based technology policy think tank revealed
India’s Digital Rupee Surpasses 5 Million Users, RBI Discloses
1.8.2024
India’s central bank, the Reserve Bank of India (RBI), has revealed that as of June, there were five million digital rupee users and 420,000 merchants participating in the retail central bank digital currency (CBDC) pilot. The RBI emphasized that the digital rupee is designed to complement...
Bybit introduces Indian digital rupee CBDC payment option
31.7.2024
The use of the CBDC on the cryptocurrency exchange will enhance security and, it hopes, attract merchants
India's Web3 alliance tightens cybersecurity after Wazirx attack
31.7.2024
The BWA’s initiatives highlight an increasing awareness of the importance of cybersecurity in preserving trust and integrity in digital finance
WazirX Co-Founder Nischal Shetty Says All Options Are on the Table for Fund Recovery
30.7.2024
Indian cryptocurrency exchange WazirX’s co-founder Nischal Shetty told CoinDesk that outreach efforts to different exchanges "are going to be crucial," as it remains open to "everything that is possible to help solve this situation."
Coindcx Urges Wazirx to Reconsider Passing 45% Losses to Customers
30.7.2024
The CEO of Indian crypto exchange Coindcx has criticized Wazirx’s approach in response to a recent $230 million cyberattack. Urging Wazirx to take responsibility, he stressed: “Making customers directly absorb the 45% losses is utter nonsense.” Wazirx is working to recover...
Wazirx Says ‘Poll Is Not Final’ — Shares Additional Cyberattack Recovery Plan
29.7.2024
Indian crypto exchange Wazirx has assured users that the poll conducted to gather input for reopening the platform following the recent major cyberattack is not final and “not legally binding upon the users or Wazirx.” Co-founder Nischal Shetty explained that Wazirx “will soon...
WazirX Surveys Users on Recovery Options After $230M Hack, Leaves Customers and Industry Players Fuming
29.7.2024
Indian cryptocurrency exchange WazirX is facing industry and customer heat for its "Withdrawal Management Programme: Opinion Poll" in the aftermath of the $230 million hack, 45% of its user funds, it suffered earlier this month
RFK Jr. Pledges to Ensure US Government Holds 4 Million Bitcoins as Strategic Reserve if Elected President
27.7.2024
U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has promised significant bitcoin-related changes if elected. On day one of his presidency, he plans to transfer 200,000 bitcoins to the U.S. Treasury and mandate the government to purchase 550 bitcoins daily until a strategic reserve of...