Binances return to India comes with $86M tax demand
While Indian AML agencies have given Binance the green light to resume operations, authorities are still seeking $86 million in tax liabilities from the firm.
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While Indian AML agencies have given Binance the green light to resume operations, authorities are still seeking $86 million in tax liabilities from the firm.
The use of the CBDC on the cryptocurrency exchange will enhance security and, it hopes, attract merchants.
The IAMAI's Blockchain and Crypto Assets Council would establish a formal board of lawyers, technological experts, and fintech compliance experts to assure self-regulation. Read Full Coverage....
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The Supreme Court bench asked the union government to file a report on whether the latter is capable of setting up a federal agency to investigate crypto-related crimes.
The eight-bank digital rupee pilot programme has processed 770,000 transactions. (Read More)
The central bank of India wants to proceed with CBDC testing in the smoothest way possible, deputy governor Rabi Sankar said.
Reliance Retail has pledged to assist India's CBDC throughout its companies. (Read More)
India’s central bank, the Reserve Bank of India (RBI), is launching its first retail digital rupee pilot on Dec. 1 with the participation of eight banks. The pilot will start in four cities and then expand to cover nine more cities across India. RBI Picks 8 Banks, 13 Cities to Test Retail Digital Currency The
The post RBI Begins First Retail Digital Rupee Pilot in 13 Indian Cities With 8 Banks appeared first on BTC Ethereum Crypto Currency Blog.
The RBI is planning to test the "digital rupee" in retail. Within a month, the pilot will debut. Digital rupees will augment the present payment system, not replace it. Each bank testing CBDC will utilize 10,000 to 50,000 people. (Read More)
RBI hopes to settle secondary market transactions in government securities with the digital rupee pilot use case.
Continue reading Reserve Bank of India Unveils the Pilot of its Digital Rupee at DailyCoin.com.
On Tuesday, India’s central bank launched a pilot program for its virtual currency, allowing a select group of banks to settle secondary-market trades in government securities. Data from Clearing Corp. of India Ltd. shows that 7.38% of the 2027 debt and 7.26% of the 2032 bonds were among the first to be traded using the […]
RBI will wait for the government’s consultation paper on crypto, said governor Das. The statement was made during a press ...
Halfway through 2022, at the proof of concept stage, RBI is in the process of verifying the feasibility and functionality of launching a CBDC.
Crypto "will seriously undermine the RBI's capacity to determine monetary policy and regulate the monetary system of the country," according to Reserve Bank of India officials.
Sources claim that the RBI is not targeting crypto exchanges in India. CEO Brian Armstrong had stated that they halted ...
Big news for the cryptocurrency community! After months of confusion, India, which was one of the countries that banned cryptocurrencies, submits to reality and backs off from its decision. News surfaced about how India legalized cryptocurrencies by imposing taxes. This gives total legitimacy to cryptos and eliminates any confusion around the topic among crypto users. On the other hand, the crypto market started to move upwards, with Bitcoin specifically getting closer to 40K. Where will the Bitcoin price reach? Let's find all the details in this article.
India Legalized Cryptocurrencies!Back in 2021, the cryptocurrency market fell by more than 15% when India issued a statement banning cryptocurrencies. Today in 2022, India backed off its earlier statement. The country decided to tax crypto activities and put a crypto income tax of 30%.
Not only did they embrace cryptocurrencies, but India also decided to digitize the Rupee and introduce a new digital currency starting April 1, 2022. This news definitely took a positive effect on the cryptocurrency market which saw currently a rise of more than 5% on an aggregate level.
Why was the crash when cryptos were banned higher than the positive news when cryptos were adopted? Well, the crypto market is still considered in a bearish trend. Buyers are still worried about whether they should enter the market or wait for further adjustments. Once the buying volume increases, the market will in turn move higher.
When will Bitcoin Price reach 40K?With the recent good technical formation of an uptrend and excellent fundamentals thanks to India, the crypto market is in a good place. In figure 1, we can see how Bitcoin retraced from the low of $33,000 and is since then on a healthy uptrend. The $39,000 price was reached earlier today, but prices are expected to consolidate before reaching 40K again. Once we breach this valuation, prices need to remain higher than $40,000 in order to break the bearish market trend. This way, crypto investors will gain confidence in this comeback, and in turn swap their stablecoins to cryptos again.
Fig.1 BTC/USD 2-hours chart showing BTC's uptrend from its low - TradingView The Cryptocurrency Market is UPIn the past 24 hours, most cryptocurrencies increased in valuations. In figure 2, we can see the chart of the entire cryptocurrency market cap going up. The pattern is very similar to Bitcoin's price-action. In fact, Bitcoin still has a dominance of around 42%. That's why it's natural to see a highly correlated chart between the entire crypto market in general and Bitcoin in specific.
Fig.2 Total Crypto cap in USD 4-hours chart - TradingViewIf you feel like you need guidance when tackling the crypto market, you need to check out our premium area. You’ll always be up-to-date with everything happening in the crypto market. Additionally, you will receive trading ideas and professional trading support. You will also receive information about the latest crypto trends at an early stage! If you want to read more about our Premium Area, click here.
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The post India Legalizes Cryptos and Bitcoin ON THE MOVE! $BTC 40K NOW?? appeared first on CryptoTicker.
With authorities in India still unsure on how to deal with the crypto industry, the apex bank of the Asian country has reportedly made it clear that it would prefer the country to tow the China path by completely banning crypto.
The post India’s top bank calls for complete crypto ban appeared first on CryptoSlate.
Affirming the prior speculations on the concerted efforts of the Indian parliament and government to regulate the developing world of cryptocurrencies. (Read More)
India has the highest number of crypto owners in the world. Over 10 million Indians own crypto. India also records ...
The Reserve Bank of India is studying various aspects of digital currencies.
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