For failing to comply with registration regulations, Indian authorities have issued a warning to nine cryptocurrency exchanges: Binance, Kucoin, Huobi, Kraken, Gate, Bittrex, Bitstamp, MEXC, and Bitfinex. A statement from the Financial Intelligence Unit India (FIU IND) states that nine overseas VDA SPs were sent compliance Show Cause Notices. To
A senior Indian politician in charge of the country’s financial development has said that the country is not expected to introduce a crypto or Web3-specific legislative measure until at least the middle of 2025. Chair of the Standing Committee on Finance Jayant Sinha was speaking at the India Blockchain Week
The Central Bureau of Investigation (CBI) of India is said to have selected digital asset custodian Liminal to handle the administration of confiscated digital assets. Liminal has previously assisted a CBI operation by forming a specialized team that developed multi-signature and multi-party computation wallets for the secure storage of confiscated
Sumit Gupta, the CEO and co-founder of crypto exchange CoinDCX recently took to Twitter to announce that the Advertising Standards Council of India has adopted two key suggestions made by the Bharat Web3 Association in regards to the ‘Guidelines for Advertising Virtual Digital Assets and Linked Services’ released in February
On Sunday, the Special Investigation Team (SIT) investigating the alleged multi-crore crypto fraud executed searches at 41 different sites in Himachal Pradesh, India and detained one of the major suspects, Abhishek Sharma. Abhishek, a native of the Una district in Himachal Pradesh, is believed to have been one of the
A gynecologist working out of central Mumbai, Maharashtra in India lost INR 1.1 crore (approx. $1,31,872) to a Facebook imposter. A lady called Melissa Campbell, proclaiming to be a professional in crypto trading, communicated with the doctor on Facebook last year, promising him a significant return on his investment. After
Considering the surge of increase in adoption of blockchain throughout the world, India has also taken notice of its potential and is researching the use of this distributed ledger technology in a variety of different fields. NITI Aayog has taken the lead in encouraging the use of cutting-edge technologies by
In a significant development for the Indian crypto community, the Kerala High Court has issued a groundbreaking directive, safeguarding the rights of bank account holders who have fallen victim to indiscriminate freezes on their accounts in cases related to cybercrimes. The court, in its ruling, called upon banks not to
Hindustan Petroleum (HPCL), one of India’s prominent oil and gas companies, is set to revolutionize its purchase order verification process with the introduction of a cutting-edge blockchain system. Collaborating with blockchain software firm Zupple Labs, renowned for its blockchain-based credential verification platform called “LegitDoc,” will provide the technology to streamline
The rising prevalence of crypto-related frauds over the last several years has understandably scared off several investors. Meanwhile, on Wednesday the 18th of October, authorities in Navi Mumbai exposed and shut down a major crypto fraud. Located in the Indian state of Maharashtra, Navi Mumbai is a city that borders
