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India

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March 2023

India imposes money laundering regulations on crypto industry

India’s crime fighting agencies have been investigating crypto exchanges and individuals on money laundering charges and have now put the onus on exchanges to report suspicious transactions.

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Indian crypto exchange WazirX blocks over 2,400 accounts in 6 months

India, UAE to collaborate on cross-border central bank digital currencies

March 2023

India’s Budget Disappoints

India’s position on digital assets remains status quo as the country’s parliamentary budget hearing leads to disappointment in the crypto sector.

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India, UAE to collaborate on cross-border central bank digital currencies

India discussing crypto, regulation with G20, says finance minister

Binance tells Indian crypto exchange WazirX to remove funds from its platform as feud escalates

India working with IMF, FSB on crypto regulations, says economic affairs secretary

India’s largest retailer Reliance starts CBDCs sales

Markets: Bitcoin stays above US$23,000; Cardano leads gains in top 10 cryptos

February 2023

India’s CoinDCX exchange says crypto tax rules are reducing government revenue

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.

Indian Budget Ahead

India’s crypto tax laws have caused local trading volume to plummet and the industry is hoping for better news in the upcoming budget session.

India’s CoinSwitch exchange to add non-crypto products amid punishing taxes on digital asset trading

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?

India’s Crypto Outlook

WazirX VP Rajagopal Menon sits down with Forkast to provide some insight as survival becomes a huge concern for crypto exchanges in India.

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Markets: Bitcoin stays above US$23,000; Cardano leads gains in top 10 cryptos

Accelerator Graviton to help Indian Web3 start-ups get funding

India’s WazirX crypto exchange releases proof of reserves, says 90% of user assets in Binance wallets

India’s Decimal Point Analytics gets US$750,000 grant funding to develop tokenization solutions

Slumdog Millionaire composer A. R. Rahman tunes into metaverse

Indian crypto exchanges may lose US$1.2 trillion of trade volume in next four years: research

January 2023

The last 12 months the year to forget, says India’s WazirX crypto exchange  

A lot of the troubles for India exchanges in 2022 will run into next year as they shed staff and run down reserves to stay afloat, and not all are expected to make it.

It’s time for more institutions to adopt blockchain and crypto: Opinion

Despite the myriad benefits of blockchain and cryptocurrency, institutional interest remains mixed in Asia Pacific. What lessons should the industry learn from 2022 to overcome the barriers to adoption?
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Indian crypto exchanges may lose US$1.2 trillion of trade volume in next four years: research

January 2023

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Indian crypto exchanges may lose US$1.2 trillion of trade volume in next four years: research

Japan’s central bank to test digital yen with three megabanks: report

India’s CoinSwitch launches platform to enable multi-exchange trading with single login

Indian crypto exchange CoinSwitch says proof of reserves shows sufficient reserves to match clients’ stake

Indian crypto exchange WazirX introduces profit, loss function

India forms new crypto advocacy body with Coinbase, Polygon

India’s finance minister urges G20 nations to come on board to regulate crypto

India seeks info from crypto exchanges as it mulls GST on asset class: report

November 2022

First Digital Trust says HK, Singapore can join hands on crypto initiatives

In a Q&A with Forkast, First Digital Trust Chief Executive Officer Vincent Chok shared his views on Hong Kong getting back into crypto, regulations, and how the crypto pie in Asia is big enough for rivals Singapore and Hong Kong.

India’s headache, or opportunity?

India’s crypto sector has been having a tough time – we’re taking a look on what has been happening lately.

India’s crypto taxes provide headache for many, opportunity for some

One company says it’s bringing solutions for confused investors in digital assets in India who grapple with hours of tax calculations.

What lies ahead for crypto in India

Binance in India – potential or problem?

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India seeks info from crypto exchanges as it mulls GST on asset class: report

Crypto a rising currency of choice for drug smugglers in India

India Web3 talent driven away by lack of regulatory clarity, industry body says

Sachin Tendulkar joins NFT market Rario’s cricket legends roster

India wants global, tech-driven regulatory framework for crypto

India police launches blockchain-based complaint portal on Polygon

Indian investors allegedly duped in crypto cloud mining scam

WazirX wants to integrate India’s digital rupee

RBI to begin CBDC pilots, outlines wholesale, retail concepts

October 2022

Merge finally arrives; India’s female traders

Welcome to The Daily Forkast – September 15, 2022 – presented by Megha Chaddah. Coming up on today’s show: Ethereum’s Merge is complete. Indian women start to plug into cryptocurrency trading. And finally, can the crypto world shrug off carbon footprint concerns? We’ll have more on those stories — and other news shaping the cryptocurrency […]

India crypto exchanges plan long-term future as day traders flee 

In facing a government hostile to cryptocurrency trading, Indian exchanges are trying to attract new business with suites of different investment products.

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RBI to begin CBDC pilots, outlines wholesale, retail concepts

India financial crime unit cites ‘Chinese-controlled entities’ in alleged crypto fraud

India ED freezes US$1.57 mln in crypto allegedly laundered through WazirX, Binance

India’s finance minister sees 46% growth in blockchain technology use in next few years

India’s CoinDCX Twitter handle hacked to peddle XRP

Indian finance minister urges IMF to lead crypto regulation

WazirX launches coin reports with data from crypto research firms Crebaco, IntoTheBlock

RBI asks 4 state-run banks to test digital rupee, in talks with fintech: report

Indian police arrest alleged crypto trickster in US$31 mln scam: report

September 2022

Indian authorities probe alleged $125 mln money laundering cases involving crypto, report says

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

Binance-WazirX spat heats up as investors yank funds from Indian exchange

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

India crypto traders try to dodge fallout from WazirX woes, spat with Binance

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

Coinbase-Blackrock deal, India’s blockchain outlook

Coinbase and Blackrock partner up to provide institutional crypto access. Meanwhile, Instagram expands NFT platform.

Blockchain in India got off on wrong foot, says former finance chief 

India’s government doesn’t like cryptocurrencies and has made that clear in statements and with heavy taxes on the asset class, but what does that say about blockchain adoption?

FastForkast headlines

Indian police arrest alleged crypto trickster in US$31 mln scam: report

India financial crime-fighters search CoinSwitch crypto exchange

More than half of Indian crypto investors want to increase investments: report

India blockchain forum plans to chart future with governments, regulators

India authorities block crypto exchange Bitbns’ bank account

India authorities freeze Vauld exchange’s assets worth $46.5 mln

India’s CoinSwitch to fund Web 3.0 startups

India’s WazirX says it has no-tolerance policy on illegal activities

India’s WazirX to delist EasyFi

Binance to stop off-chain transfers with India’s WazirX

Business as usual at India’s WazirX as Binance distances itself

India questions Binance-backed WazirX on foreign exchange violations