India
Kamala Harris Meme Coin Soars as Biden Drops Out; India’s Tax Policy Unlikely to Change
"CoinDesk Daily" host Jennifer Sanasie breaks down the biggest headlines in the crypto industry today, as Vice President Kamala Harris-inspired meme coin KAMA rises on the news that President Joe Biden has dropped out of his re-election campaign. Plus, experts say that India is unlikely to change its controversial tax policy on crypto and BitForex announces that the exchange will open for withdrawals after a five-month outage spurred by Chinese police investigation.
India Unlikely to See Crypto Tax Reduction in Tuesday's Budget
An unexpected election result and last week's $230 million hack of crypto exchange WazirX appear to have dented any hopes of a reduction in the tax.
WazirX Files Police Complaint After $230M Hack, Engages With India's Cyber Crimes Unit
WazirX said "many exchanges" were "cooperating" with them and that their immediate plans included "tracing the stolen funds, recovering customer assets, and conducting a deeper analysis of the cyber attack."
WazirX Hack Sends SHIB, WRX Tumbling as Bitcoin, Tether Trade at Massive Discount
Most coins, including market leader bitcoin and USDT, are trading at a significant discount on WazirX.
Indian Crypto Exchange CoinDCX Acquires BitOasis to Enter Middle East
BitOasis recently won a license to operate as a broker-dealer in Bahrain and is also licensed in its native UAE.
Binance Fined $2.2M by India’s Financial Intelligence Unit
Binance became the first offshore crypto-related entity, along with KuCoin, to be approved by India’s Financial Intelligence Unit (FIU) in May, conditional to paying a penalty.
India Springs Election Surprise, Sends Equity Market Crashing With Uncertain Implications for Crypto
Any plans for comprehensive crypto legislation could be kicked further down the road after a weaker-than-forecast showing for the governing party.
India's Market Regulator Suggests Shared Crypto Oversight Even as RBI Seeks Stablecoin Ban: Reuters
The Securities and Exchange Board of India's position was made to a government panel that could submit its report to the Finance Ministry by June, the report said.
Indian Crypto Exchange CoinDCX’s DeFi Arm Okto to Launch Blockchain and OKTO Token
The objective of Okto is to give global users a single-click mobile experience while traversing the Web3 space.
Custody Provider Liminal Wins Approval in Abu Dhabi as It Extends Expansion in Asia
The company has also secured registrations in India and Dubai.
