India

Thousands, if not millions of Indian crypto investors were looking forward to ending 2021 with a crypto regulatory bill on the Parliament table. However, that didn’t come true as the government seemingly wanted more time to explore the issue. That said, however, the world’s second largest country by population – and the largest one toContinue reading “India: No crypto bill yet, but here are some other updates to watch in 2022”

Less than a month after Twitter account of Prime Minister Narendra Modi was hacked, major institutional handles in India were reportedly renamed “Elon Musk” over the weekend. Following which, screenshots from Sunday reveal that tweets promoting cryptocurrency were posted soon after. In the earlier incident as well, PM’s hacked handle had tweeted that the countryContinue reading “India: Three institutional handles hacked, renamed to ‘Elon Musk’ to promote crypto”

A local media report has confirmed that major cryptocurrency service providers are under investigation in India on suspicion of possible tax evasion. The development follows earlier reports of indirect tax evasion by the company that manages one of the largest crypto exchanges in the country, WazirX. Following which, official sources have confirmed to ANI thatContinue reading “India: Dull New Year for crypto as platforms to face raids over alleged tax evasion”

It looks like India’s decision to remove the crypto bill from the 2021 Parliamentary agenda is negatively affecting new signups. In this context, it should be noted that investor registrations on crypto platforms were reportedly growing at a 10% month-on-month rate up until November. However, the deferment of the bill to next year has ledContinue reading “Report: India’s decision to defer the crypto bill is affecting crypto user signups”

Steven Cooper, CEO of Bigger Entertainment, tweeted earlier today that his team has burned another 2.5 million SHIB tokens. The development follows his earlier announcement of a live burn party that took place on 26 December. Meanwhile, he added that 1.5 million SHIB will also be moved out of circulation. Therefore, it is estimated thatContinue reading “Burning of SHIB tokens continues as more platforms embrace the volatile meme coin”

The Securities and Exchange Board of India (SEBI) Chairman Ajay Tyagi was speaking at a press conference recently when he barred domestic mutual funds from making crypto-based investments. According to local media reports, he asked the funds to wait for government legislation before it can be allowed for investors. This will essentially mean that mutualContinue reading “India: SEBI Chairman bars crypto-based NFOs for want of regulatory clarity”

In a report released today, India’s central bank has laid down the benefits of a central bank digital currency (CBDC) and its possible future in India. It noted, “In its basic form, a central bank digital currency (CBDC), provides a safe, robust, and convenient alternative to physical cash. Depending on various design choices, it canContinue reading “India: Central bank supports CBDC ‘in its basic form,’ as alternative to cash”

While being enticing enough to be increasingly accepted as a mainstream investment, the risks associated with cryptocurrencies continue to define the sector. Recently, the world’s Big 4 professional services firms – Deloitte, PwC, EY, and KPMG – have requested their Indian employees to make digital asset disclosures, according to local media. Partners and executives at theseContinue reading “‘Big 4’ firms ask Indian employees to disclose crypto investments to assess risk”

Crypto crime and cyber crime is on the rise. There’s no denying this. Various methods, such as lucrative investment opportunities, illegitimate bank transfers and cryptocurrencies, are being used by fraudsters to dupe unassuming investors. Well, the desire to get rich overnight through cryptocurrency investment often make the investors vulnerable to frauds or scams. So criminalsContinue reading “India police officer discusses crypto crime, warns against using unauthorized private wallets”