Blockchain & crypto news from India
The income tax department of India has reportedly targeted around 700 crypto investors who have failed to pay taxes on high-value crypto transactions. According to an official with the nation’s Central Board of Direct Taxation, they have a long list of people who were dealing in crypto assets but weren’t paying tax. The list includes…
According to reports, the latest Indian crypto bill will necessitate the requirement for sharing KYC (Know Your Customer) data of users with several regulators and government agencies for verification. The latest bill will command for a uniform KYC procedure for all cryptocurrency exchanges though they have their own process as of now. The new bill…
The Tourism Authority of Thailand (TAT) is expecting to introduce its own crypto token called TAT Coin, as part of its ‘cryptourism’ campaign. It is an initiative intended to lure some of those rich crypto investors, who can increase the GDP of the country. According to reports, the CEO and founder of the crypto exchange…
Indian crypto investors now prefer peer-to-peer transfers, Telegram or WhatsApp groups and spot trading to trade currencies because of volatile banking services being offered by the banks to exchanges. Currently, SBI blocked receiving of funds by the crypto exchange on its UPI platform. Though most top-notch exchanges witnessed a rise in buying activity in the…
India’s largest lender, State Bank of India has banned crypto exchanges from receiving funds through its UPI platform and has asked payment processors to disable SBI UPI on their platform also. SBI’s stance came after a slew of banks imposed alike bans on cryptocurrency exchanges over the previous few years. In May, HDFC Bank has…
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…
In a reply to a query asked by former Bihar deputy CM and Rajya Sabha MP Sushil Kumar Modi, Nirmala Sitharaman, the Finance Minister, on July 27 informed the Rajya Sabha that the Indian Government isn’t gathering any information on the cryptocurrency market and has no clue about the count of active crypto exchange platform…
The meme cryptocurrency that Elon Musk can’t stop talking about has earned a huge fan following; credit goes to billionaire and Tesla Inc.’s CEO. In order to honor Musk on his 50th birthday, a YouTuber decided to send a physical replica of the Dogecoin crypto to space or at least till the stratosphere. Reid Williamson,…
On Wednesday, cryptocurrency markets witnessed a downturn, with major currencies crashing rapidly, wiping off as much as $1 trillion from their valuations, which had hit a record high of more than $2 trillion recently. Many analysts seem to believe that the crypto bubble, which grew without reason or rhyme or unsustainably for some time now,…
On March 13th, 2021, Bitcoin reached a record high of $61,711.87. Over the past year, the bitcoin surge has handsomely rewarded cryptocurrency owners. It has recently also minted 12 new crypto billionaires. Twelve cryptocurrency billionaires were added to the 35th Annual World’s Billionaires List by Forbes. The list is up from just four in the…