The governing body overseeing India’s Unified Payments Interface (UPI) said it isn’t aware of any cryptocurrency exchange using the platform, hours after Coinbase said users could use the same to buy and trade cryptocurrencies. See related article: SEC threatens to sue Coinbase over high-yield savings account Fast facts Nasdaq-listed Coinbase launched crypto trading services in…
India needs to discourage people from investing in cryptocurrencies and digital assets, a senior MP from the ruling party told Forkast in an exclusive interview.
India’s 30% flat levy on all capital gains made on cryptocurrencies kicked in on April 1 in a development likely to stifle the relatively nascent industry in the country. See related article: India’s crypto tax will incur losses for government, says WazirX CEO Fast facts Finance minister Nirmala Sitharaman has been facing investor backlash over…
The International Monetary Fund (IMF) is voicing concerns over the adoption of cryptocurrencies in India, suggesting it poses significant risks to the country’s financial stability, local media report. See related article: Killing it softly or regulating to innovate? India at the crypto crossroads Fast facts Crypto assets pose significant risks, including to financial stability in…
A district government in Maharashtra, India, has started stamping 65,000 caste certificates through LegitDoc, a document-verifying system on the Polygon blockchain. See related article: India releases ‘National Strategy on Blockchain’ for e-governance Fast facts In India, caste certificates are used by marginal communities such as tribes to gain access to certain government benefits and subsidies. …
Sushil Kumar Modi, a member of Parliament (MP), has urged India’s finance minister Nirmala Sitharaman to consider raising the capital gains tax on crypto income to over 30%, the flat rate scheduled to kick in from April 1. See related story: India’s tax bogeyman is scaring off young crypto investors Fast facts The minister argued…
The country’s attempt to profit from digital asset gains puts off new investors to the asset class, even as existing ones redeploy funds into traditional assets.
EarnU, a play-to-earn crypto sports and esports prediction platform, has forayed into India, to target betting Indians looking to earn crypto rewards for correct predictions. See related article: How sports and crypto are knocking it out of the park Fast facts EarnU is a game that is free to play for BETU token holders. While…
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%…