Blockchain & crypto news from India
Prominent cryptocurrency exchanges WazirX and CoinSwitch Kuber have blocked rupee deposits for the buying of crypto using a widely-used state-fostered transfer system, provoking users to voice concern on social media. India has spent years on a law to regulate or ban cryptos, with its central bank supporting a ban over their threat to financial stability,…
The government is planning to roll out the Finance Bill which will regulate all virtual assets including cryptocurrencies. They are developing an FAQ on the taxation of the same. As per a recent report, these FAQs will provide users a proper clarification in a distinctive way on the applicability of income tax and GST on…
On March 9, United Arab Emirates’s ruler and also vice president and prime minister Sheikh Mohammed bin Rashid Al Maktoum declared on his official Twitter account that the Emirates has adopted its first law to regulate crypto assets. The law would work towards establishing and developing Dubai and UAE’s place as important players in orienting…
On Thursday, Ukraine legalized cryptocurrencies even as its tensions with Russia have disturbed markets globally in the previous week because of global concerns over the prospect of a wider war with over 100,000 Russian troops near the Ukrainian frontier. In a Tweet, the Ukraine Vice Prime Minister Mykhailo Fedorov said that the country is already…
On Monday, the Dubai Media Office said that the Dubai World Trade Centre (DWTC) will become a crypto zone and regulator for other virtual assets and cryptos. It is a part of the efforts to lure new business as regional economic competition rises. According to the statement, DWTC’s stance to develop a specialized zone for…
As Parliament proceeds to discuss and debate norm or ban of cryptos and crypto exchanges in parliament from next week, India might have to be mindful that new global guidelines are being set on the management and permission of cryptos, especially given that terror financing and money laundering would become very easy without coordinated global…
Amitabh Bachchan becomes the current celebrity to join the crypto-space. Bachchan, who is now the brand ambassador of the Indian crypto exchange CoinDCX, will be operating to create awareness about crypto, the firm said in a press release. But he is far from the only big celeb, worldwide or in India, to be actively partaking…
Ukraine is the 5th nation in as many weeks to lay down some regulations for the crypto market, an indication that governments worldwide are grasping that bitcoin is here to stay. In an almost concordant vote, the Parliament of Ukraine accepted a law that regulates and legalizes crypto. The bill was set in motion in…
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…
A decision from the Reserve Bank of India (RBI) to remove a 2018 rule that prohibits banks from encouraging crypto dealings comes as a welcome relief for a community encountering opposition from traditional lenders required to help settle these trades. Late on Monday, the regulator informed banks not to quote a 2018 central bank circular…