Search results: nischal shetty

As the world grapples with crypto mining’s carbon footprint, Nischal Shetty of WazirX examines the technical and regulatory solutions.

Crypto literacy of Indian regulators is evolving and crypto players are trying to keep industry clean via self-regulations, says Nischal Shetty of WazirX.

Top blockchain and crypto news: GOPAX deal sees Binance return to South Korea. Inflation fight spooks crypto markets. Chinese liquor giant gives cheers to NFTs.

Binance has stopped providing wallet services to Indian crypto exchange WazirX, asking it to withdraw any remaining assets held in Binance wallets by Feb. 3.

Some 90% of user assets at WazirX, India’s largest crypto exchange by volume, are held in wallets at Binance while the remaining 10% are stored in hot and warm wallets, revealed WazirX’s proof of reserves that the company released on Wednesday.

WazirX, India’s largest crypto exchange by volume, has begun to publish data-driven reports for over 200 coins listed on its exchange, with data from  crypto intelligence firms Crebaco and IntoTheBlock.  See related article: TZ APAC, NUS join for blockchain, computing education Fast facts Research reports by Crebaco published on WazirX aim to help readers understand […]

India’s Enforcement Directorate is investigating at least 10 cryptocurrency exchanges for alleged money laundering, according to The Economic Times

Top blockchain and crypto news: Binance spurns WazirX amid India probe. BlackRock bets on Coinbase. Crypto influencers in China’s crosshairs.

What’s a crypto trader to do when the government freezes exchange assets, sparking a war of words between supposedly ‘merged’ exchanges?

Indian crypto exchange WazirX said its operations are being conducted as usual, even after Binance denied owning equity in Zanmai Labs, the entity operating WazirX. The spat over ownership — Binance had reportedly acquired WazirX in 2019 — surfaced after Indian authorities reportedly froze US$8 million in WazirX assets, alleging possible violation of foreign exchange laws. […]

Cofounders of the Binance-backed Indian crypto exchange WazirX have reportedly moved to Dubai amid regulatory uncertainty and taxation, local media report. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Nischal Shetty and Siddharth Menon have reportedly moved to Dubai along with their families.  “Crypto has no boundaries,” […]

Trading volumes at India’s major cryptocurrency exchanges slumped to their lowest in years after new taxes kicked in on April 1, according to research by Crebaco. See related article: Coinbase’s India launch hits road bump Fast facts U.S. dollar trading volume dropped by 72% on WazirX, 59% on ZebPay, 52% on CoinDCX and 41% on […]

In a move that may adversely impact crypto adoption in the country, India’s government said its pending tax law for virtual digital assets will not allow offsetting gains on one crypto with losses from another. See related article: India may impose 28% GST on crypto transactions Fast facts India’s government plans to collect a 30% […]

India’s plans for a 1% tax deducted at source (TDS) on every crypto transaction will result in huge losses for the government, Indian crypto exchange WazirX founder Nischal Shetty said on Wednesday.  See related article: Indians see future in crypto, government sees revenue, FM says Fast facts Shetty argued more revenue is to be expected […]

Indian crypto exchanges are experiencing a surge in trading volume since finance minister Nirmala Sitharaman announced a 30% tax on crypto transfers at the budget session of parliament on Tuesday.  Fast facts Binance-owned WazirX’s 24-hour trading volume has soared by 56.26% while its WRX token price jumped 25.3%, as of press time.  The trading volume […]

Countries acted to encourage — or discourage — cryptocurrency and other blockchain-based assets, sending markets wildly up and down.

Despite the looming parliamentary debate over banning private digital currency in India, the founder of Mumbai-based crypto exchange WazirX predicts thousands of new crypto startups.

Bitcoin and Ethereum prices fell nearly 24% in India as investors sought to get ahead of a possible crypto prohibition.

Bitcoin & Beyond

While El Salvador carved out its place in history as the first country in the world to adopt Bitcoin as legal tender, there are others that may follow for an array of reasons.

Most banks distance themselves from virtual asset platforms as the country’s central bank lobbies for a ban.

The veil of uncertainty that has shrouded crypto regulatory discussions seems to be lifting, but how the government will regulate and tax digital money remains to be seen.

Binance — the world’s biggest cryptocurrency by trading volume — today announced the appointment of Greg Monahan, a former U.S. Treasury criminal investigator, as its global anti-money laundering officer, according to a company statement. Fast facts Monahan’s appointment comes as Binance seeks to bolster its compliance efforts amid increasing scrutiny from regulators around the world — […]

If cabinet approves crypto bill by November, it could be introduced as early as parliament’s winter session.

Speaking to Parliament, India’s finance minister reveals that the government does not know how many crypto exchanges India has nor the number of crypto users.

The prospect of a ban on cryptocurrencies has haunted the industry for years, but it appears to be receding as delayed rules give policymakers time to think before they act.

How China’s deployment of the digital yuan intertwines economics with geopolitics and concrete with virtual infrastructure, from Cambodia to the Caribbean.

China’s crypto mining crackdown continues while Indian finance authorities probe one of the nation’s largest exchange WazirX.

India’s central bank has clarified that cryptocurrencies are not illegal, but that does little to prevent lenders from refusing to provide crypto-related services.

India’s Enforcement Directorate has issued a show cause notice to cryptocurrency exchange WazirX for alleged foreign exchange violations involving 27.9 billion rupees (US$382 million).

Dogecoin is on its weekend hangover as trading volumes in India’s WazirX for DOGE reaches new heights. Meanwhile, ESG investments tackle crypto.

National Payments Corporation of India refuses to ban cryptocurrency trading, putting decision on whether to block trades in hands of lenders. India’s national payments authority has handed banks the responsibility for deciding whether or not to ban cryptocurrency trading. The National Payments Corporation of India has advised lenders across the country to impose bans on […]

India’s cryptocurrency exchanges are calling on local banks not to block their transactions. Cryptocurrency exchanges in Mumbai are reportedly struggling with payment gateways and banks, which they accuse of blocking their transactions by citing an old Reserve Bank of India (RBI) policy to ban digital currency dealings. They claim the policy had been struck down […]

Terra’s LUNA and UST stablecoin implosions are roiling the crypto world and beyond. Picking up the pieces won’t be easy — nor finding a good path forward.

Top blockchain and crypto news: New Delhi’s crypto give and take. Malice in Wonderland? Hong Kong’s selective spot ETF rules.