The Indian Government has instructed the crypto exchanges functioning in India to be extra cautious for transactions associated with persons residing in Jammu and Kashmir and in border areas. The financial intelligence unit, the central agency that limits money laundering and financial crimes, instructed this to various local Crypto platforms.
One of the most prominent exchanges, Binance, announced through its official website on April 18 that both new and existing users hailing from India need to go through the process of KYC (Know Your Customer) re-verification. The step has been taken to improve the global compliance standards and lead the
In a major blow to WazirX users, the Supreme Court has dismissed a criminal writ petition filed by 54 individuals seeking action against the crypto exchange and its co-founder Nischal Shetty over last year’s massive $230 million (₹2,000 crore) crypto hack. The court made it clear that it isn’t the
As Trump put a pause on the Tariff negotiations, the crypto market rallied upwards. Bitcoin has reclaimed its $80K mark and is currently trading in the $82K range. The altcoin sector has also shown positive movements in the last 24 hours. Meanwhile, the SEC, on completion of its final voting,
As global jurisdictions change to suit emerging crypto regulations, India too seems to change its approach towards digital assets. India’s Crypto Policy Re-Evaluation India had initially planned to introduce a consultation paper on crypto regulations following its 2023 G20 presidency. However, the government is now rethinking its approach due to
With more strict Western sanctions, Russian oil companies are using more and more cryptocurrencies to trade with India and China, Reuters. This reflects the part played by cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and stablecoins like Tether (USDT) in avoiding traditional financial rules. Crypto as a Tool to Trade Russian
India has always been super active in terms of emerging technology adoption, such as crypto and AI. Despite the rise in crypto adoption, the Indian government is adamant about bringing clear regulatory policies to the industry. Whether it is crypto investment or open-source developer activity, India always stood in the
Coinbase Global Inc., one of the largest cryptocurrency exchanges has officially registered with India’s Financial Intelligence Unit (FIU), signalling its return to the Indian market. This initiative comes after a nearly two-year hiatus from operating in the country. With the FIU registration, the exchange will later in the year begin
In a concerning cybersecurity breach, the official X (formerly Twitter) account of CoinSwitch, one of India’s leading crypto exchanges, was hacked on Wednesday during Asia’s noon hours. The attackers used the compromised account to promote a fraudulent Solana-based token, SWITCH, falsely claiming it as CoinSwitch’s native token set for trading
The crypto market has once again been swooned by WazirX’s latest update. The July 2024 hacked exchange is yet to set its fund recovery scheme into motion. Since the hack last year, the exchange has announced several steps and updates, but the lack of fund recovery has caused investors to
