India

As people all around the world pull April Fool’s pranks on one another, countless Indian crypto investors and entrepreneurs are hoping the Indian government is playing one on them. However, that doesn’t seem to be the case as India’s tax on crypto came into force on 1 April, triggering a storm of passionate emotions. NO-maste, cryptoContinue reading “Public outcry grows louder than ever as India’s 30% ‘crypto tax’ comes into effect”

As the global cryptocurrency market is growing further each day, governments around the world are working harder to bring the industry under a regulatory regime. While some countries have managed to enact efficient regulations to cultivate the industry in a safe manner, others have created more uncertainty through opposing stances, and often skeptical stances. AContinue reading “India: Fleeing cryptocurrency companies reveal a worrying tale of regulation”

Lawmakers in India have shared concerns about the potential misuse of crypto-trading vehicles for illicit activities. In fact, concerns pertaining to advertisements by cryptocurrency exchanges have been aired too. According to lawmakers, these ads promise customers wild profits and aren’t transparent enough. Ergo, regulatory watchdogs have now included crypto-ads as part of its “standardized self-regulation.”Continue reading “India: ASCI releases new rules for crypto-ads to limit ‘misleading’ content”

Soon after the Indian government’s Budget announcement to bring digital assets under the government’s taxation regime, Finance Minister has given another blow to its legal status by her comments. Banning or not banning cryptocurrencies will come subsequently after consultations: FM replying to Budget debate in Rajya Sabha — Press Trust of India (@PTI_News) February 11,Continue reading “India: FM breaks silence, reiterates this on the issue of legalizing cryptocurrencies”

The latest cryptocurrency hack has targetted Polygon‘s native stablecoin protocol Qi DAO, as its Suplerfluid vesting contract faced an exploit earlier today. The hackers got away with a reported $13 million in various tokens, leading to its governance token Qi’s price falling a sharp 68% in no time. QiDAO announced the hack on Twitter earlierContinue reading “Polygon’s stablecoin protocol QiDAO suffers $13 million exploit on third party contract”

Soon after the Indian government’s announcement to bring the transfer of digital assets into the 30% tax bracket, Economic affairs secretary Ajay Seth has said that even a ban is still not off the table. Cautioning about risks of virtual assets, he stated in an interview, “The Finance Bill has sought to provide clarity onContinue reading “India: Despite tax ‘legitimacy’, here’s why a ‘crypto ban’ is still not off the table”

It’s been a time of celebration for India since the annual Budget announcement brought some clarity to the status of crypto in the country. This came after months of bated breath and fears of a blanket crypto ban. That said, is it time yet for Indian investors to let down their guard? A big fat IndianContinue reading “India sees spike in crypto exchange sign-ups, but could it be premature”

Many crypto investors, entrepreneurs, and traders cheered as India’s Budget finally solved the mystery of how digital assets – such as crypto – would be taxed. However, it’s a mistake to assume that everyone is throwing confetti around. In fact, thousands are fuming. Are you angry? Sign here A 30% tax on the transfer of digital assetsContinue reading “Indians sign petition to #ReduceCryptoTax as budget bogs down investors”

Hours after the Indian government’s announcement to bring the transfer of digital assets into the 30% tax bracket, the industry seems to be divided on its implications. Investor Rakesh Jhunjhunwala, for instance, known as the “Warren Buffett of India,” opined that Budget 2022 is the “death” of crypto in India. Senior opposition leader Sachin PilotContinue reading “India’s 30% crypto-tax proposal – Can’t tax something ‘illegal’… or can it?”