For some time, investors and stakeholders in India have been debating the cryptocurrency tax and a planned regulation bill. While Finance Minister Nirmala Sitharaman clarified the taxation of cryptocurrencies, the government has yet to introduce legislation to regulate them. According to a PTI report, the government proposed tightening the taxation on cryptocurrencies by prohibiting the…Continue Reading
SynopsisThe Indian crypto community, in reaction to central bank governor Shaktikanta Das’ statement that private cryptocurrencies are a big threat to India’s financial and macroeconomic stability, has said crypto assets could help unlock the country’s innovation, job-creation and economic potential.AgenciesAccording to Kashif Raza, founder of Bitinning, a crypto education platform, the RBI’s concern is understandable…Continue Reading
SynopsisLaunched in 2018, Y Combinator-backed Mudrex has clocked a 450 per cent user growth in the last four months from over 100 countries.iStockThe funding round will help Mudrex accelerate user acquisition, licensing and expand rapidly in geographies like India, the US, Europe and Latin America.New Delhi: Mudrex, Bengaluru-based crypto investing platform, has raised $6.5 million…Continue Reading
SynopsisThe government has smartly sidestepped on the legality of cryptocurrencies while showing its disinclination to support these, by levying a huge tax burden on those making money from such virtual digital assets, as the Finance Bill has tried to define it.iStockCryptocurrencies, along with other virtual digital assets, were hanging by a thread of uncertainty. The…Continue Reading
Bitcoin, along with other digital cryptocurrencies, crashed to its lowest level on Saturday and the continuing meltdown has wiped out over $1 trillion from the global crypto market value.Bitcoin was hovering at $35,000 per coin and the largest digital asset by market value has lost nearly 50 per cent since reaching its peak in November…Continue Reading
Mumbai: Indian cryptocurrency exchanges seem to have taken a shine to Non-Fungible Tokens (NFTs). At least half a dozen crypto platforms are foraying into the NFT space, assuming that it would not be outlawed as NFTs hold an underlying asset that is traded in digital form. In fact, cryptocurrency exchanges that offer NFTs have grown…Continue Reading
The new Cryptocurrency bill is set to empower regulators and government agencies including the Securities and Exchange Board of India (Sebi), Reserve Bank of India (RBI) and the tax department to scrutinise Know Your Customer (KYC) data of investors that crypto exchanges have collected from clients. According to two people aware of the development, the…Continue Reading
Cryptocurrency exchanges are turning to targeted advertising and marketing campaigns to soothe the nerves of investors who are exiting their investments amid regulatory uncertainty over the virtual currencies. Some of the exchanges, including CoinDCX and CoinSwitch Kuber, have re-started advertising and marketing campaigns, albeit not as aggressively as earlier, industry insiders said. In most cases,…Continue Reading
The Indian government will give time to the investors to exit from the unregulated cryptocurrency market if the law banning their trade is enacted, according to a newspaper report citing officials familiar with the development. The Narendra Modi-led government has tabled the “Cryptocurrency and Regulation of Official Digital Currency Bill, 2021” for the upcoming winter session…Continue Reading
Every month Zebpay, one of the country’s oldest and largest cryptocurrency exchanges, experiences about two Distributed Denial of Service (DDoS) attacks when cyber criminals overload the exchange’s systems to disrupt service or snoop for a vulnerability in the platform’s defences.That’s the simple part. Zebpay and other prominent exchanges have discovered that the most serious security…Continue Reading