The Indian security agencies have warned of a sophisticated ‘crypto hawala’ network having emerged in the region, channeling untraceable foreign money into Jammu and Kashmir, presumably for terror activity funds. This new network is said to be functioning through unregulated financial systems, which enjoy the benefit of anonymity in unregulated
TKF Report, titled Taxation of Digital Assets in India, has highlighted that there is a significant amount of uncollected TDS from offshore exchange platforms. Bharat Web3 Association has further shed light by sharing the report with the community. Notably, this comes days after CoinDCX CEO Sumit Gupta listed three key
India has introduced very strict rules for crypto exchanges and crypto users. The Rules were issued by India’s Financial Intelligence Unit (FIU), which aims to reduce fraud, money laundering, and misuse of crypto after several major exchange hacks and security incidents. What India’s New Crypto KYC Rules Require From Users
Sumit Gupta, the CEO of CoinDCX, has outlined three key changes that could possibly help India reset its crypto policy. These range from taxation to offsetting, with the fundamental objective of fueling the adoption of tokens and expansion of the crypto market. Meanwhile, the crypto segment worldwide remains volatile due
The financial authorities from India have restated concerns over crypto transactions and mentioned that they may muddle tax enforcement. The Income Tax Department of India has highlighted major risks associated with crypto activity at the time of a parliamentary standing committee on finance. On January 7, in a parliamentary committee
Sumit Gupta, the Chief Executive Officer of CoinDCX, has underlined the level of competition that exists in the Indian crypto market. His statement comes after reports surfaced, highlighting the number of crypto exchanges that have registered with the Financial Intelligence Unit (FIU). India continues to monitor developments in its crypto
The Directorate of Enforcement (ED) raided multiple locations in Chandigarh and Haryana, India, over their association with Crypto World Trading Company. Designed as a fake crypto investment firm, it is believed to have duped many investors hailing mostly from the north Haryana region. Investigation by the ED is underway, but
The High Court in Madras has taken a monumental decision to recognize XRP and other cryptocurrencies as property under Indian law. The case was presided over by Justice N. Anand Venkatesh and arose from the disastrous cyber attack on the WazirX exchange in July last year. The ruling establishes important
India is preparing to release a long-awaited discussion paper on cryptocurrency regulation in June 2025, a move that could reshape the future of digital assets in one of the world’s fastest-growing crypto markets. This paper is expected to outline potential policy frameworks, open the floor for public consultation, and signal
On May 29, the Chairman of Bharti Enterprises and the former president of the Confederation of Indian Industry, Sunil Bharti Mittal, demanded urgent regulatory clarity on virtual assets, quoting the volatile nature of the sector. Mittal attended the CII Annual Business Summit 2025, and there he spoke about the global
