India Coin (INDIA) News

The Reserve Bank of India formally introduced its own CBDC proposal late last week. The regulator has released a study on the possibilities for the virtual rupee and any issues that might develop following the launch of the currency. According to the report, CBDC will serve as one of the...

The Reserve Bank of India wants to involve fintech companies and commercial banks in testing CBDC. In March, the Ministry of Finance announced that the Central Bank token could be launched as early as 2022. According to the local publication Moneycontrol, the regulator has begun negotiations with...

Many cryptocurrency exchanges were forced to either leave the Indian market or limit their presence in it. They made this decision against the backdrop of tightening control over the cryptosphere and high taxes on market participants. However, according to the CEO of the KuCoin platform, Johnny...

Indian Finance Minister Nirmala Sitharaman reaffirmed her department's tough stance on digital currencies. Back in April, she expressed concern that cryptocurrencies were often used in criminal schemes. The Ministry of Finance and the Reserve Bank of India believe that bitcoin cannot be used as a...

As many analysts had warned, the introduction of a tax on crypto transactions led to a significant drop in trading on Indian bitcoin exchanges. According to CoinGecko, the average daily transaction amount has fallen by more than 60%. The most affected were the leading Indian exchanges - ZebPay,...

The governor of India's Central Bank, Shaktikanta Das mentioned the risks related to cryptos in an interview with CNBC-TV18. Pointing to the fall of crypto prices, Das said that Indian regulators have been cautioning against the sector previously. Recently, prices of cryptocurrencies dropped...

The largest US cryptocurrency exchange, Coinbase, which recently launched its trading platform in India, has reported pressure from local regulators. Against the background of the resulting conflict, Coinbase announced that the provision of certain payment services is going to be suspended. As of...

Major crypto exchange Coinbase plans to hire more people in India by the end of the year. The company released a blog post on April 4, according to which the team intends to add 1000 new employees to the present 300 staff at its Indian tech hub, which launched in 2021. The Chief Technology Officer...

Despite all the calls from the industry, India passed crypto tax laws, according to which Indians will pay a 30% tax on profits from cryptocurrency transactions starting from April 1. Moreover, apart from already high tax, traders will have to pay 1% tax deducted at source (TDS), while the law...

The Ministry of Finance in India has defined new rules for the crypto sector. According to the publication by the government, losses and profits will be viewed separately. This means that traders can't set off losses incurred in a certain digital asset against income from another one. The policy is...

At the end of last year, the Central Bank announced the launch of the digital rupee (CBDC). The regulator analyzed the consequences of integrating the token into the state financial system and concluded that CBDC will become one of the drivers for its modernization. Indian Finance Minister Nirmala...

Local media of India reports that the Supreme Court urged the Indian government lawyers to clarify if cryptocurrencies are legal or not. The legal status of the sector is uncertain as there is no regulatory framework but on the other hand, the Ministry of Finance imposed a 30% taxation rule on...

Indian Finance Minister Nirmala Sitharaman announced recently that the agency is ready to present the 2022 budget to the public. In addition, the woman noted, supporters of digital assets will finally be able to get acquainted with the newly minted bill on cryptocurrencies. So, it took a lot of...

During a budget presentation today, India's Minister of Finance Nirmala Sitharaman revealed plans for the release of national digital currency and the taxation of the revenue from crypto assets for 30%. As announced, the Reserve Bank of India intends to release a digital rupee in 2022-2023. The FM...

The Indian government has repeatedly postponed the consideration of a bill to regulate relations in the cryptocurrency market. The authorities take this decision due to opposition from the Central Bank, which is categorically against recognizing such instruments as means of payment. This week,...

The Indian authorities have identified a violation of tax laws by the crypto exchange WazirX, owned by Binance. A study of the platform's business activity revealed a Goods and Services Tax (GST) evasion for Rs 49.2 crores (over $6 million), including interest and fines. The authorities also turned...

Attackers targeted the Twitter account of Indian PM Narendra Modi. On Sunday, Dec. 12, they spread fake news that India has adopted BTC. Also, the hackers wrote that the country acquired 500 coins to distribute to India’s residents. The office of the PM of India informed Twitter about the hack,...

The most prosperous crypto company of India, CoinDCX intends to hold an Initial Public Offering (IPO) when the question of regulations gets clear. CoinDCX co-founder Neeraj Khandelwal told about it during an interview with Bloomberg Television Monday. He also noted that an IPO delivers legitimacy...