The RBI has not reportedly placed any shadowban on exchanges. The influence of cryptocurrencies on India’s macroeconomics has been frequently raised. As the cryptocurrency market continues to plummet, RBI governor Shaktikanta Das reaffirmed the central bank’s view that investors and the government should avoid investing in cryptocurrencies. During an interview
In February, ASCI issued new rules requiring crypto advertisements to include disclaimers. SEBI sent a formal statement to the Parliamentary Standing Committee of Finance. The Advertising Standards Council of India (ASCI) clarified its stance on a proposed ban on Indian celebrities supporting crypto items by saying it is not debating
The cryptocurrency market as a whole is experiencing a bad week. The outcome was yet another jab at the crypto sector from Nithin Kamath. Co-founder of Zerodha Nithin Kamath has warned Indian investors against the prospect of Coinbase Global, a US cryptocurrency exchange. Coinbase, the biggest cryptocurrency exchange in the
The 30% Capital gains tax on crypto assets is effective in India from April 2022. Total estimated realized crypto gains by India in 2021 was $1.85B. On Wednesday, prominent representatives of the crypto industry met the Indian Parliamentary Standing Committee on Finance (SCOF) in Bengaluru. No significant details of the
Deposits could be made through could be made via NEFT, RTGS, and IMPS. Crypto exchanges in India ceased allowing deposits over UPI. CoinSwitch Kuber reinstated rupee deposits using the bank deposit method on its platform approximately two weeks after the option was stopped due to regulatory difficulties. Although no official
Most VPN providers offer a “no logs policy.” The new guidelines will take effect at the end of June. As a result of the new rules, VPN service providers and crypto exchanges in India would be required to gather and preserve extensive data on their clients for five years. Furthermore,
Being one of the world’s largest crypto users in the country, India has a lot to play with the entire crypto industry. The prominent role India plays decides and ought to impact the entire crypto and blockchain ecosystem. In such terms, whatsoever, decision’s the nation takes in regards with cryptocurrency
Sameer Mhatre, WazirX’s co-founder and CTO would continue to operate in India. The organization’s employees are scattered over more than 70 distinct locations. WazirX, India’s biggest cryptocurrency exchange, has allegedly moved its headquarters to Dubai. Founders Nischal Shetty and Siddharth Menon, CEO of WazirX, are said to have relocated their
As a result of the COVID-19 epidemic, India’s digital adoption rate increased. Reserve Bank of India (RBI) is working on introducing India’s own digital currency. Historically, India has had a rocky relationship with digital assets, particularly cryptocurrencies. However, the Supreme Court overturned a prohibition on cryptocurrency transactions in March 2020,
Taxes on earnings from the transfer of virtual assets will be taxed from this month. At least four other cryptocurrency trading sites have prohibited rupee deposits. An underlying question between crypto exchanges and the National Payments Corporation of India, which handles the United Payments Interface (UPI), has led to a
