Lens
Regulation
The Indian government and the Reserve Bank of India (RBI) are working in “complete harmony” and any decision on cryptocurrency will be made jointly, finance minister Nirmala Sitharaman said in a press conference on Monday. Fast facts Discussions on crypto have been ongoing between the government and the RBI — India’s central bank — even […]
Pradipta Mukherjee
Regulation
Exchanges say the crypto tax was announced without key directives. While exchanges await clarity, they struggle to figure out their role in the tax system.
Monika Ghosh
Regulation
Union minister Bhagwat Karad said on Saturday that cryptocurrencies are not legal in India and that their future is uncertain at the moment. Fast facts Many investors and exchanges had viewed a decision to impose a 30% tax on cryptocurrency profits as a step toward validating the industry. Finance minister Nirmala Sitharaman, however, clarified last […]
Monika Ghosh
Regulation
Reserve Bank of India Governor Shaktikanta Das said in a press conference that cryptocurrencies have no underlying value and that they are “not even a tulip,” warning investors of its risks. Fast facts Das’s comments come just over a week after India’s central government announced a 30% taxation plan on income from crypto assets as well […]
Pradipta Mukherjee
Regulation
The announcement of a crypto tax dispelled fears of a ban but left exchanges wondering whether they may be hurt in the long run.
Monika Ghosh
Crypto Trading and Strategies
Indian crypto trading exchange CoinDCX says it has crossed the 10 million user mark. Fast facts CoinDCX had 3.5 million customers as of August last year. CoinDCX became India’s first crypto unicorn after its Series C funding round led by former Facebook co-founder Eduardo Saverin’s B Capital and others. Established in 2018, the company’s milestone […]
Pradipta Mukherjee
Crypto Trading and Strategies
An Indian auto parts dealer became the victim of a US$267,000 cryptocurrency scam after local police closed the case on what was determined to be a hoax call on Friday, local media reported. Fast facts 29-year-old victim Vinay Jain told police on Saturday that he had been robbed by the accused who had promised him […]
Monika Ghosh
Regulation
Over 54,000 crypto investors have signed a petition urging the Indian government to reconsider a planned 30% tax rate announced earlier this week. Fast facts Blockchain and crypto education provider Crypto India co-founder Aditya Singh started the petition on Thursday to stop the government from comparing crypto to “social evils like betting and gambling.” The […]
Monika Ghosh
Regulation
A 30% tax doesn’t legalize cryptocurrencies but exchanges no longer worry about a ban, while investors would pay taxes at twice the rate of other asset gains.
Monika Ghosh
Regulation
Top blockchain and crypto news: New Delhi’s crypto give and take. Malice in Wonderland? Hong Kong’s selective spot ETF rules.
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