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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
Indian Crypto Exchange BitBNS Says Law Enforcement Advised Against Making Hack Public
2.3.2023
Indian Crypto Exchange BitBNS didn't make a hack worth $7.5 Million on February 1, 2022 public to its users and instead told them it was "system maintenance" because "law enforcement" authorities advised them against it
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...
IMF Calls for ‘More’ Crypto Regulation — Says Banning Should Be an Option
26.2.2023
International Monetary Fund (IMF) Managing Director Kristalina Georgieva says crypto needs “more regulation.” She added, “We should not take off the table banning those assets,” if regulation fails or is too slow to implement. IMF’s Chief Calls for More Crypto...
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...
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 Minister Says No Issue With Crypto if Laws Are Followed
19.1.2023
Rajeev Chandrasekhar, India's Minister of Information Technology, has said crypto would face no issue within the country if related laws are followed.
Speaking at an event in the southern city of Bengaluru, Chandrasekhar said there is "nothing today that outlaws crypto as long as you follow...
India's Central Bank Governor Calls Crypto "Gambling," Asks for Blanket Ban Again!
15.1.2023
India’s central bank governor has once again expressed skepticism toward cryptocurrencies, saying these assets are “nothing but gambling” and asking for a blanket ban.
Speaking at a Business Today event, Shaktikanta Das claimed cryptocurrencies don't have any intrinsic value and their perceived...
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...
Indian Central Bank: Developing Global Crypto Regulation Is a Priority for G20 Under India’s Presidency
1.1.2023
The Reserve Bank of India (RBI) says one of the priorities for the G20 under India’s presidency is to “develop a framework for global regulation, including the possibility of prohibition, of unbacked crypto assets, stablecoins, and defi.” The Indian central bank warned that...
Indian Government Updates Parliament on Cryptocurrency Bill and Investigations of Crypto Exchanges
20.12.2022
The government of India has provided some updates on its cryptocurrency bill and investigations of crypto exchanges in Lok Sabha, the lower house of India’s parliament. “Crypto assets are by definition borderless and require international collaboration to prevent regulatory...
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...
EU Commissioner Urges US to Create New Crypto Rules — Says ‘We Need to Look at Global Regulation of Crypto’
19.10.2022
The European Commission’s commissioner for financial services has reportedly urged U.S. lawmakers to establish new rules to regulate the crypto industry. “We do need to see other players also legislating … We need to look at global regulation of crypto,” said the commissioner....
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 Asks Crypto Investors to Exercise Caution as Authorities Investigate Exchanges
16.8.2022
India’s finance minister has cautioned investors about cryptocurrency as the country’s Enforcement Directorate (ED) investigates a number of crypto exchanges and freezes the assets of some trading platforms. Indian Finance Minister Cautions About Crypto Indian Finance Minister Nirmala...