India

India’s stance towards cryptocurrencies has been steadily changing over the past year: indications of ebbing hostility towards this sector have been widely covered. Considering the sheer number of people who can benefit from the decentralized sector, this is an encouraging development for the fintech sector. Coin switch Kuber raised $25 Mn at a $500 MnContinue reading “Did the Indian govt’s ‘Bitcoin ban’ campaign backfire?”

India introduced equalization levy in 2016 intending to tax digital transactions- the income accruing to foreign e-commerce companies from India. Although it aimed to tax business-to-business transactions, the tax department is now wondering if the 2% levy is applicable for cryptocurrency assets bought from foreign exchanges. According to reports, the tax department was analyzing ifContinue reading “This could make buying Bitcoin and other cryptocurrencies more expensive for Indians”

India has had an interesting few months on the crypto front. Look at WazirX’s journey – the largest Indian crypto exchange went live just three weeks before the Reserve Bank of India issued its ban on crypto banking in 2018. Since then, WazirX went on to become the largest exchange platform for crypto traders basedContinue reading “India’s CBDC plan: Here’s the how, when and why”

The question about crypto-regulations has become a never-ending game of plucking out a daisy which ends up growing an extra petal right when you think you’ve arrived at an answer. Such is the situation in India too where a large crypto fanbase has been waiting to hear from regulators whether they will favor crypto orContinue reading “India’s latest bid to review its ‘crypto-regulations’ – What to expect?”

Even though India was still deliberating regulations for cryptocurrencies, some top officials from the industry believed that the country could be looking at classifying Bitcoin as an asset class. Sources linked with the industry expressed that the government has moved away from its aggressive stance towards virtual currencies and was like to classify Bitcoin asContinue reading “Will India classify Bitcoin as an asset class soon?”

After issuing a circular on Monday about cryptocurrencies, the Reserve Bank of India [RBI] has now clarified that it still retains concerns about the asset class, concerns which it has conveyed to the government again. Back in March 2020, the Supreme Court of India had quashed the RBI’s circular from 2018, one that banned banksContinue reading “Hold your horses! India’s central bank is still not a fan of crypto”

Indian cryptocurrency holders and users can finally breathe a sigh of relief as RBI released its objection to banks using its old circular to refrain from processing crypto payments. As per the Reserve Bank of India, its aforementioned circular “is no longer valid” and should not be “cited or quoted from.” RBI noted that theContinue reading “Finally, India’s RBI breaks its silence on ‘crypto ban’”

As part of their #CryptoAgainstCOVID campaign, Binance Charity confirmed the safe arrival of 2 cryogenic liquid oxygen tanks, equivalent to 6,000 reusable cylinders, to India. They have been working closely with the government of India to provide the aforementioned shipment. Changpeng Zhao, CEO of Binance, took Twitter to break the news.  We sent 2 tanksContinue reading “Binance Charity Fund’s latest efforts ‘should help save about 12,000 lives’ in India”

In what is a major development, Chiliz and Socios.com, two of the leading entities in the space of fan engagement, have announced partnerships with three franchises of the Indian Premier League. The teams, namely, Royal Challengers Bangalore, Punjab Kings, and Kolkata Knight Riders are participants in the cricketing world’s foremost domestic T20 cricket league, theContinue reading “Chiliz, Socios announce partnerships with three major Indian cricket franchises”