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
India’s New Crypto Tax Rules Bring Heavy Penalties India has begun strict new tax guidelines on the profits obtained from cryptocurrencies. Undisclosed gains will attract up to 70% penalties. This amendment is under Section 158B of the Income Tax Act as announced by Finance Minister Nirmala Sitharaman in the Union
Crypto Taxation is known to hold an element of obscurity from both taxpayers’ and national governments’ perspectives. This obscurity arises due to the lack of a definite approach to the process. The past year saw multitudes of nations navigating the sphere and producing Taxation laws as part of regulating the
India Should Act on Crypto Regulations Donald Trump is expected to announce new crypto rules soon. Sumit Gupta, CEO of CoinDCX, believes India must act quickly too. He warns that delays could cause India to lose innovation, talent, and value from crypto transactions. Gupta said high taxes and unclear policies
Indian Railways is offering NFT-based train tickets to the visitors of MahaKumbh Mela 2025 in association with Chaincode Consulting. Minted on the Polygon blockchain, these tickets bring the travel experience to life for millions who attend the most important Hindu pilgrimages. The MahaKumbh Mela, which takes place every 144 years
As many countries, including the United States, show growing support for cryptocurrency, India’s Ministry of Finance recently discussed its views on Decentralized Finance (DeFi), highlighting both its promise and the challenges it poses. In response to a question in the Rajya Sabha, Pankaj Chaudhary, Minister of State for Finance, acknowledged
