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Regulation
India’s Directorate of Enforcement (ED), responsible for enforcing economic laws and fighting economic crime, is investigating two cases against crypto exchange WazirX under the Foreign Exchange Management Act of 1999 (FEMA), reported local media. See related article: Only the big fish will survive as India cracks the whip on crypto: Binance-backed WazirX Fast facts Zanmai […]
Pradipta Mukherjee
Regulation
An Indian firm providing crypto tax calculation services is introducing a software as a service (SAAS)-based solution to tackle India’s myriad crypto taxation regime. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts SAAS-based TaxCryp software aims to simplify tax computation, compliance and reporting requirements, India-based TaxCryp Technologies said on […]
Pradipta Mukherjee
Altcoins
Cryptocurrency exchange KuCoin has “no exposure to LUNA & wLUNA,” and its recent fundraising “has nothing to do with the market downtrend,” the firm’s CEO said on his verified Twitter handle. See related article: How cold storage can ward against this crypto winter’s freeze Fast facts KuCoin CEO Johnny Lyu was responding to rumors about […]
Pradipta Mukherjee
Market Trends
The adoption of cryptocurrencies is still low compared to traditional investment classes such as equities, payment technologies and private equity allocation by institutions, a joint report by Boston Consulting Group (BCG), Bitget and Foresight Ventures said. See related article: Led by Vietnam and India, global crypto adoption jumps over 880% Fast facts The report estimates […]
Pradipta Mukherjee
Regulation
New Bangko Sentral ng Pilipinas Governor Felipe Medalla is no fan of crypto, but in an exclusive interview with Forkast, he said there’s no plan to outlaw the digital asset.
Jenny Ortiz
Regulation
The Indian government won’t reduce taxes on cryptocurrency transactions, a minister said, despite repeated pleas by the industry. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts In a written reply to a query in India’s upper house of Parliament, Minister of State for finance Pankaj Chaudhary clarified that the […]
Pradipta Mukherjee
Crypto Trading and Strategies
Trading volumes at Indian crypto exchanges are recovering on the back of a rally in digital asset prices. Volumes had dropped after the government had imposed steep taxes. See related article: Bitcoin bounces back after US reports worst inflation in 41 years Fast facts Trading volumes at crypto exchange WazirX rose about 35% to US$7.18 […]
Pradipta Mukherjee
Regulation
The Indian cryptocurrency industry is looking to create an independent association to liaison with the government on policies and highlight issues with relevant stakeholders. See related article: India’s latest tax assault on crypto exchanges starts Friday Fast facts Key stakeholders have engaged in preliminary talks but the association’s establishment is not expected to be immediate, […]
Pradipta Mukherjee
Regulation
While the Reserve Bank of India has sought to prohibit cryptocurrencies, a ban is only possible after significant international collaboration and evaluation, India’s finance minister said on Monday. See related article: India’s finance minister calls on G20 to share information on crypto Fast facts “RBI (Reserve Bank of India) is of the view that cryptocurrencies […]
Pradipta Mukherjee
Regulation
Cryptocurrencies need to be brought under the purview of tax information shared by countries, India’s finance minister Nirmala Sitharaman said at a G20 Ministerial Symposium on Tax and Development in Bali. See related article: India to make life hell for crypto investors: MP Fast facts The G20 should examine the feasibility of exchanging information on […]
Pradipta Mukherjee
