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CATEGORY: indian cryptocurrency


Mar 11, 2023 05:50

India Brings Crypto Transactions Under Prevention of Money Laundering Act

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 efforts to prevent virtual digital assets “from being misused by bad actors.” India [...]

The post India Brings Crypto Transactions Under Prevention of Money Laundering Act appeared first on Crypto Breaking News.

Cryptocurrency balance freeze of Vauld: Indian saga

Author: Aishwarya shashikumar
Estonia
Aug 14, 2022 11:25

Cryptocurrency balance freeze of Vauld: Indian saga

The cryptocurrency accounts of Bengaluru-based Yellow Tune Technologies, a provider of financial services, have been blocked, according to a Friday announcement from India’s Directorate of Enforcement (ED). Flipvolt, the Indian division of Singapore’s Vauld, held some of the accounts. The action is related to an ongoing investigation into money laundering by instant loan companies with […]

Aug 12, 2022 07:15

Vauld’s Legal Woes Mount After ED Freezes Assets Worth $46M

Crypto exchange Vauld has become the latest target as India‘s Enforcement Directorate or ED froze assets worth Rs 370 crore [$46 million] on 11 August. The move comes at a time when the Singapore-based startup filed for bankruptcy after citing “financial difficulties” a month ago. In a statement to TronWeekly, Vauld said, “We are still […]

Jun 05, 2022 11:01

India’s Ultra-Rich Investors Find A New Way For Crypto Betting

Indian policymakers’ heavy-handedness towards crypto has left the sector high and dry. Trading has almost come to a halt and several industry bigwigs are flocking to friendlier nations while others chose to stay back hoping for some change in the government’s policy. Ironically things don’t look good in the near short term. But that has […]

May 12, 2022 02:35

Coinbase Bogged Down By Indian Authorities’s Pressure Tactics, Heads Out

In a major development, leading US-based cryptocurrency exchange Coinbase has decided to leave the Indian market within three days of its launch. Brian Armstrong, the co-founder, and chief executive said because of “informal pressure from the government and the Reserve Bank of India”. On April 7, Coinbase launched its crypto trading service in India which allowed its clients […]

May 12, 2022 12:15

Coinbase Bogged Down By Indian Authorities’ Pressure Tactics, Heads Out

In a major development, leading US-based cryptocurrency exchange Coinbase has decided to leave the Indian market within three days of its launch. Brian Armstrong, the co-founder, and chief executive said because of “informal pressure from the government and the Reserve Bank of India”. On April 7, Coinbase launched its crypto trading service in India which allowed its clients […]

Apr 28, 2022 02:30

India’s First Crypto Exchange Hosts Metaverse Token TRACE

India’s crypto exchange Bitbns became the first among its peers in the country to list metaverse token ‘TRACE’ on its platform. The popular metaverse token is part of the Trace Network Labs, known for augmenting digital avatars. One of the asset’s several use cases is its ability to grant network users governance control over the […]

Apr 28, 2022 10:55

India’s Crypto Exchange Bitbns Becomes First To Hosts Metaverse Token TRACE

India’s crypto exchange Bitbns became the first among its peers in the country to list metaverse token ‘TRACE’ on its platform. The popular metaverse token is part of the Trace Network Labs, known for augmenting digital avatars. One of the asset’s several use cases is its ability to grant network users governance control over the […]

Cryptocurrency bill opposed by more than a third of urban Indians

Author: Aishwarya shashikumar
Estonia
Jan 06, 2022 07:25

Cryptocurrency bill opposed by more than a third of urban Indians

According to data collected by market researcher YouGov on the Indian cryptocurrency bill, more than a third (36%) of urban Indians oppose the Government’s plan to regulate crypto assets. It has come to light that among the opposers the rate of people who own a digital asset is higher than that of those who don’t. […]

Jan 05, 2022 07:15

Everything about India’s first Crypto Index, IC15

India’s first crypto Index called IC15 debuts on the super-app CryptoWire which will evaluate the performance of the 15 most widely traded cryptocurrencies listed on leading crypto exchanges by market capitalization. For the uninitiated, an index such as these, captures over 80 percent of market movement is essentially a market tracking and assessing tool. Through such […]

Jan 02, 2022 07:20

India’s major crypto exchanges are on the DGCI radar for alleged tax evasion

India’s Directorate General of GST Intelligence [DGCI] has raided several crypto exchanges operating in the country after detecting a tax evasion by Binance owned exchange WazirX two days ago. In what could be termed as a not-so-good start at the beginning of the year for the Indian crypto scene, the enforcement agency recovered around $9 […]

Dec 21, 2021 10:55

India’s crypto exchanges might be asked to appoint a Grievance Officer: Industry Insider

In the latest development, India’s crypto exchange maybe ask to appoint a local point of contact, similar to the new IT rules that require to have a Grievance Officer for social network entities operating in the country. This was revealed by industry insider Aritra Sarkhel, Director at Public policy and Government Affairs on WazirX. Sarkhel has […]

Nov 28, 2021 11:00

IPL, India’s richest sports league, bans teams from signing crypto-based deals

IPL or Indian Premier League was banned from taking part in crypto-related deals and associating themselves with cryptocurrency-based firms or exchanges. This order came from the Board of Control for Cricket in India (BCCI) which is the authority governing the sport. As per a report by ET, the teams are upset with the decision taken by the […]

Nov 24, 2021 07:15

Crypto market crashes on Indian exchanges amidst ban FUD

Amidst the huge regulators’ involvement and FUD, Indian crypto exchanges witnessed a sudden panic selling which resulted in a midnight crash dumping the dollar-linked stable coin tether (USDT) by 25% to nearly 60 Indian Rupees ($0.8061). This happened just after the news on the cryptocurrency bill went viral on Wednesday. The global crypto market has […]

Nov 16, 2021 11:01

India’s crypto exchanges shell out more than $6M in advertisements

India’s top cryptocurrency exchanges dished out more than $6 million in advertisements and other promotional activities for the ICC World Cup Cricket tournament 2021. According to information provided by Tam Sports, India’s first crypto exchange unicorn CoinDCX was the biggest spender of all. It spent a total of over $5 million in broadcasting at least […]

Nov 14, 2021 07:10

How India plans to craft the new Cryptocurrency law

India’s Prime minister Narendra Modi presided over a high-level meeting, discussing ways to manage the burgeoning cryptocurrency sector. The meeting, as per the government sources, was the result of detailed consultation held with the Reserve Bank of India, the Finance Ministry, as well as domestic and international experts. Sources revealed that an agreement was reached […]

Nov 08, 2021 07:15

India working towards a “balanced” crypto law: Source

India’s leadership is contemplating how to take a balanced stance on cryptocurrencies. The government is in the process of finalizing legislation on the crypto-asset industry which may be presented this year in the coming winter session of Parliament. A source close to the administration revealed that an absolute ban on cryptocurrency would be extreme and […]

Sep 26, 2021 07:25

China FUD sends Indian crypto investors into a frenzy

The latest announcement by Chinese central bank, People’s Bank of China [PBoC] with regards to making all crypto transactions illegal has sent Indian investors into massive sell-offs. Cardano [ADA], Polygon [Matic], and Solana [SOL] have been investor favorites for quite some time but the latest news witnessed many market players cashing out. As many resorted […]

Apr 12, 2023 01:20

India Seeks Common Crypto Framework for All Countries to Deal With ‘Many Collapses and Shocks in Cryptocurrencies’

India’s finance minister, Nirmala Sitharaman, said during her official visit to the U.S. that crypto regulation is a very important part of the discussion by the G20 countries given “so many collapses and shocks in cryptocurrencies.” She stressed: “We seek to develop a common framework for all countries to deal with this matter.” India Seeks

The post India Seeks Common Crypto Framework for All Countries to Deal With ‘Many Collapses and Shocks in Cryptocurrencies’ appeared first on BTC Ethereum Crypto Currency Blog.

Apr 06, 2023 05:50

Indian Government Answers Questions About Crypto Legalization, Fraud Prevention

The Indian government has responded to parliamentary questions about the legalization of cryptocurrency and the steps it has taken to prevent crypto-related fraud. “Crypto assets are currently unregulated in India. Frauds relating to crypto are dealt with under extant laws against fraud and cybercrime,” the Minister of State for the Ministry of Finance told parliament. [...]

The post Indian Government Answers Questions About Crypto Legalization, Fraud Prevention appeared first on Crypto Breaking News.

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