india Archives

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India is set to unveil a discussion paper on its crypto policy by September, as announced by Economic Affairs Secretary Ajay Seth. The paper aims to gather feedback from relevant stakeholders on proposed regulations to foster the growth of the crypto market. Expanding Regulatory Scope Seth highlighted that, at present, cryptocurrencies in India are regulated […]

India’s CoinDCX has acquired the Dubai-based crypto trading platform BitOasis, aiming to broaden its reach into new markets. The Indian exchange previously invested in BitOasis in August 2023. Rapid Growth and Strategic Investments Since its inception in 2018, CoinDCX has grown to serve over 15 million users and offers more than 500 crypto assets, with […]

Financial Penalty Imposed by India’s FIU The Financial Intelligence Unit (FIU) of India has levied a substantial fine of $2.2 million (approximately Rs 18.82 crore) on Binance, the largest global cryptocurrency exchange. Conditional Approval Granted to Restart Services Binance has received conditional approval from India’s anti-money laundering agency to restart its operations in India, following […]

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Renewed Leadership in India’s Finance Ministry India recently wrapped up its general elections on June 1, with results paving the way for Narendra Modi’s third consecutive term as Prime Minister. Nirmala Sitharaman, now re-assigned as the finance minister after her initial stint in 2019, rejoins Modi’s cabinet. The Indian crypto community offers varied responses to […]

Binance has recently implemented a policy change in India, discontinuing the option for cash deposits in peer-to-peer (P2P) cryptocurrency transactions. This move blocks Indian users from buying or selling cryptocurrencies using cash payments. Binance Ends Cash Payment Method For P2P Users in India Previously, Binance offered an escrow service that facilitated transactions once cash had […]

Pakistan has secured a position in the top 10 most crypto-friendly nations, ranking 10th, while India is close behind at 11th place by just one point. Despite its rapidly advancing tech industry and a tech-savvy populace, India falls just short of its neighbor Pakistan in the roster of the most crypto-friendly nations. Pakistan has claimed […]

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SUMMARY: Cashaa announced that its upcoming crypto wallet will enable users to buy, store, earn, and take loans against their cryptocurrency deposits in their respective local currencies. The company has also declared that it will cease its banking services for crypto and other “high-risk businesses.” In 2022, Cashaa exited from Unicas in India, a joint […]

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In an official update shared on X, the cryptocurrency exchange based in Seychelles announced its plan to initiate a one percent Tax Deducted at Source (TDS). India has been intensifying its efforts to ensure investor safety within the crypto sector. KuCoin recently joined other international exchanges in complying with India’s Financial Intelligence Unit (FIU). In […]

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SEBI Chief Madhabi Puri Buch highlights the need for instant settlement in traditional markets to prevent investors from shifting to cryptocurrency. SEBI’s head states traditional markets need instant settlements to compete with crypto. “Investors are likely to move to crypto if traditional markets cannot offer tokenization and instantaneous settlement,” said SEBI’s Madhabi Puri Buch. The […]

The Enforcement Directorate (ED) has taken a significant step in its ongoing investigation into a cryptocurrency scam by filing a charge sheet against 299 entities, including individuals of Chinese origin, under the anti-money laundering law. Exposing the Cryptocurrency Fraud Scheme This charge sheet follows allegations of investor deception related to cryptocurrency mining, including Bitcoin. The […]