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Regulation
As India moves forward with its one-year presidency of the Group of 20 (G20), it is discussing cryptocurrency and regulation with the group’s members, India’s Finance Minister Nirmala Sitharaman said.
Pradipta Mukherjee
Regulation
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.
Dylan Butts
Regulation
India, the current holder of the G20 presidency, has been working with the IMF and the Financial Stability Board FSB to develop a regulatory approach for cryptocurrencies.
Zoltan Vardai
Regulation
Indian retail giant Reliance Retail announced on Thursday that it has started accepting digital rupee payments to become the largest Indian firm to adopt the nation’s CBDC.
Zoltan Vardai
Bitcoin News
Bitcoin traded above US$23,000 throughout Wednesday afternoon trading in Asia, while Ethereum and other top 10 non-stablecoin cryptocurrencies were mixed. Cardano led gains with 2.03% followed by XRP’s 1.13%.
Pradipta Mukherjee
Regulatory News
Laws to prevent another FTX blowup, crackdowns on crypto tax cheats, and a ruling on Ripple are likely imminent. A bull’s eye is also on DeFi, writes Gergo Varga of SEON.
Gergő Varga
Regulation
India announces its full year budget on Feb. 1, the last before general elections in 2024, and the cryptocurrency and digital asset industry is lobbying the government for changes in tax rules, among others.
Pradipta Mukherjee
Altcoins
India-focused accelerator Graviton has announced an initiative to help Indian Web 3.0 start-ups get up to US$50,000 in funding
Pradipta Mukherjee
Crypto Trading and Strategies
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.
Pradipta Mukherjee
Regulation
Indian cryptocurrency exchanges faced a flurry of taxes on trading last year that saw volumes across most platforms drop as much as 90%, slashing income from trading fees. What’s a crypto exchange to do? Maybe sell mutual funds?
Pradipta Mukherjee
