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“# Crypto exchanges in India still struggling to secure banking partners ” Commercial banks in India are reportedly reluctant to do business with crypto exchanges in the country. According to Reuters on Thursday, crypto trading platforms in India are still finding it difficult to open accounts with financial institutions. While there is no crypto ban in…
“# Slow, but not steady: India’s stance on Bitcoin and crypto is evolving ” India’s reserve bank has long since condemned the use of cryptocurrencies, but other than the Supreme Court striking down its 2018 bill last year, the Indian government’s stance on cryptocurrencies has been largely uncertain. On one hand, top sources tracking the…
“# Despite regulatory uncertainty, Indian crypto investment surges 19,900% in one year ” Despite India’s uncertain regulatory climate regarding crypto assets, nationwide investments in digital assets have increased by roughly 19,900% over the past year. According to data from blockchain analytics firm Chanalysis that was reported by Bloomberg on June 28, crypto investments increased during…
“#India tourism boss offers prize to guy who can have most kids” Despite their rank as the world’s second-most populous country, Indian officials in the state of Mizoram are launching a race to encourage population growth by promising a cash prize to the family with the most children. To boost their declining economy, Mizoram’s sports,…
“# Existing Indian law could impose 2% levy on crypto bought from offshore exchanges ” According to local sources, the Indian Government’s 2% “equalisation levy” could be extended to crypto-assets purchased from off-shore exchanges. According to a June 22 report from Economic Times, analysts are inferring that existing law could require a 2% levy to…
“# Zebpay will join organization proposing regulatory framework for crypto in India ” Cryptocurrency exchange Zebpay and others doing business in India will reportedly be joining IndiaTech, an association aimed at providing regulatory clarity for crypto in the country. According to a Monday report from The Economic Times, executives from some of India’s crypto exchanges…
“#How India is changing vaccine plan amid shortages” NEW DELHI — Starting Monday, every adult in India will be eligible for a free vaccine paid for by the federal government. The new policy, announced by Prime Minister Narendra Modi last week, ends a complex system introduced just last month of buying and distributing vaccines that…
“# Proposed crypto ban legislation reportedly under review by India’s government ” India’s government is reportedly reviewing modalities for banning or regulating cryptocurrencies in the country. According to Bloomberg Quint, reports indicate that the government is in talks with financial regulators and industry stakeholders to examine the provisions of an earlier proposal that effectively called…
https://s3.cointelegraph.com/audio/67489.d8818b50-0746-4ab7-9c2b-47f39e8a44d3.mp3 The well-known Indian crypto exchange WazirX, which Binance acquired in 2019, is under investigation for alleged violations of India’s Foreign Exchange Act (FEMA). The probe was publicly announced in an official tweet today from India’s Enforcement Directorate (ED): https://twitter.com/dir_ed/status/1403256929435017217 In the Indian numbering system, one crore denotes 10 million. The 2,790 crore rupees in cryptocurrency…
“# India to reportedly ditch Bitcoin ban agenda in favor of asset classification ” The tide may have finally turned for cryptocurrencies in India as reports indicate a softer stance by the government towards crypto. According to a report by The New Indian Express on Thursday, the government’s hostile stance towards Bitcoin (BTC) appears to…