Blockchain & crypto news from India
In an event organized by the Blockchain and Crypto assets Council (BACC) of Internet and Mobile Association of India (IAMAI), the chairman of India’s Parliamentary Standing Committee on Finance, Jayant Sinha said that country’s bill will have a unique approach for crypto law. He assured that nation’s crypto policies will not be along the lines…
The tax department and buyers are in a dilemma over how to calculate profits on crypto for taxation purposes, especially since tax regulations lurch and there exist disagreement against specific laws and tax is computed on the value declared by the assessee. The big query that’s worrying all is how the profits from crypto assets…
Come September, crypto tokens like Ethereum, Bitcoin and others will be taking one of their biggest moves towards legitimacy. A new digital registry is being developed that will add distinctive identifiers to these digital tokens. DTIs (Digital token identifiers) are being launched to monitor the movement of cryptos according to the International Organization for Standardization…
In a heist that appears straight out of the movies, the Greater Manchester police have seized crypto assets valued at $22.5 million from a couple. The duo is suspected to be a part of an international crypto scam. Police have recovered the assets stored in a pen drive. Including Ethereum, the seized assets are calculated…
Dubai along with the rest of the United Arab Emirates (UAE) is inching closer to inaugurating licensed crypto exchanges, an initiative that could enhance financial inclusion for the countless who constitute most of the territory’s workforce. Migrants may be able to send money home using online wallets with smaller or no fee at all and…
On August 2, Pankaj Chaudhary, Minister of State for Finance said that the government would decide on the proposals on the Inter-Ministerial Committee (IMC) on the legislative proposal and cryptos, if any, would be tabled in Parliament after the due process. In its reports, a high-level IMC had recommended that all private cryptos, except any…
Turkey is all set to present its draft bill to regulate crypto in the nation as soon as October. Situated at the junction where Asia and Europe meet, netizens in Turkey have taken crypto as a protection against inflation. The new bill may make it very much expensive for firms to enter the crypto world…
On Monday, financial authorities in Mexico told that crypto assets aren’t legal tender and aren’t considered currencies under current laws. The authorities further cautioned financial institutions that operate with them are subject to sanctions. The joint statement by banking regulators, the Bank of Mexico and the the Bank of Mexico after Ricardo Salinas Pliego, a…
Trading on crypto exchanges based out of India may get more expensive as the country’s regulator pondering over a 2% equalization tax on crypto dealings. The new equalization tax – a levy that the nation charge on foreign companies – would apply to other cryptocurrencies and Bitcoin purchased off exchanges that are based out of…
A tweet from Sandeep Nailwal on Saturday started all this. “Can’t take this sitting down anymore, I am going to run a Covid relief campaign… Need help from the global crypto community. I will take full responsibility for transparency, funds’ usage, and regulatory compliance”. COO and co-founder of Polygon Sandeep Nailwal has asked to donate…