Unfold 2023, India’s largest Web3 event organised by CoinDCX from October 19 -21, 2023, was wrapped up on a high note. The sheer scale of the event and the overwhelming success reflects the promising future of Web3 in India. This objective is no less than propelling the nation to the
India has taken center stage as it currently presides over the G20, a pivotal forum comprising the world’s major economies. Amidst its diverse initiatives encompassing startups, cybersecurity, and disaster risk management, India’s call for a unified approach to address the complexities of cryptocurrencies has caught the attention of the global
The crypto market has experienced significant growth and developments over the past few years. As every country is developing and adopting crypto, the G20 is to discuss a game-changing move for crypto regulations, international taxation, and bank finances. Moreover, the G20 finance ministers and central bank governors came up with
To empower India’s Crypto Adoption, the global fiat-crypto payment service provider, Alchemy Pay has started supporting India’s Unified Payment Interface (UPI) for all domestic payments and transfers. This enables consumers to buy or sell cryptocurrencies with the Indian rupee for a minimum purchase of INR 1,250. 📢#AlchemyPay's On-Ramp now supports
Shiba Inu has been grabbing the attention of investors worldwide, with a particular surge of interest seen in India. Recent reports suggest that Shiba Inu has been the most frequently traded digital asset in India this week, according to a tweet by SHIB KNIGHT. 📌 #Shiba Inu Most Traded Asset
India’s Finance Minister, Nirmala Sitharaman, raised concerns about the potential for crypto assets to cause “macroeconomic instability” at a press conference after her meeting with the G20 finance ministers and central bank governors. Speaking at the conference, Sitharaman emphasized: “There is a greater acceptance among all G20 members that any
India, until March 2023 for the financial year 2022–23, a total of Rs. 157.9 crore has been collected in direct tax or deducted at source (TDS) on payments made upon transfer of virtual digital assets (VDAs) and cryptocurrencies. Cryptocurrencies and other VDAs are entitled to 1% TDS, which went into
The latest action by the Indian government to tighten control over digital assets is the imposition of anti-money laundering regulations on the cryptocurrency industry. According to reports, the Finance Ministry specified that the regulation against money laundering has been applied to cryptocurrency trading, storage. And also associated financial services. The
Despite the fact that the Indian government and central bank have been skeptical of the cryptocurrency market, they are now striving to provide some regulatory clarity to the topic. Crypto and NFT businesses in India are considered “reporting entities” under the country’s Prevention of Money Laundering Act (PMLA), according to
Key financial stability and regulatory concerns were covered during the inaugural G20. During Finance Ministers and Central Bank Governors (FMCBG) conference under India’s chairmanship. In a recent report, India asked other countries to consider the long-term effects of crypto assets on the global economy. And called for the development of
