Government considering adding cryptocurrency to tax law

Indians who trade or invest in cryptocurrencies on Indian platforms may come under the lens of a taxman, as can people holding such coins outside the country. The government is looking to amend the existing income tax and disclosure norms in the upcoming budget to include words like cryptocurrency. Those aware of the development said … Read more

Crypto exchange investors turn to targeted campaigns to calm nerves

Cryptocurrency exchanges are turning to targeted advertising and marketing campaigns to calm the nerves of investors pulling out of their investments amid regulatory uncertainty over virtual currencies. Industry insiders said that some exchanges, including CoinDCX and CoinSwitch Kuber, have resumed advertising and marketing campaigns, albeit not as aggressively as before. In most cases, advertisements are … Read more

India’s New Crypto Law Is Ready To Red-Flag Chit Funds, MLM Business Models

India is set to red flag a number of investment schemes launched by individuals and cryptocurrency exchanges that are similar to chit funds, multi-level marketing (MLM) and systematic investment schemes (SIPs), as it is a bulwark for vulnerable rural security. Strives to create a strong regulatory framework. Population buying risky crypto assets. Regulators including the … Read more

Unwise to ban all cryptocurrencies: ORF report

New Delhi: With an estimated 15 million Indians holding digital currencies, cryptocurrencies need to be regulated like any other financial asset and it would be unwise for India to ban private crypto assets when it has the ability to redeem it. A study released by the Observer Research Foundation (ORF) gave this information on Tuesday. … Read more

Get rich-quick crypto wave could lead to more meaningful crypto products

The crypto craze generated a sort of lure of easy money that few other things could match. An overnight growth of 64,000% percent is almost unimaginable and defies any logic of investment and growth. This, coupled with the ever-increasing advice of crypto exchanges, began to attract everyone to this crypto maze. Then came NFT crypto. … Read more

Government Plans Bill To Ban Private Cryptocurrency, RBI Allows Digital Coinage

The government will introduce a bill to make rules for cryptocurrencies with the aim of prohibiting private coinage while providing a framework for the creation of an official digital currency to be issued by the Reserve Bank of India (RBI). According to a bulletin issued by the Lok Sabha on Tuesday, the bill has been … Read more

Crypto regulations are required to avoid systemic risks. But how we classify them matters

In my view, cryptos are the fastest wealth creators in the history of mankind, creating $2-$3 trillion in the 10 years since bitcoin was launched in 2009. Today, it is one of the most talked about asset classes – or should I say an enigma. To use this asset and enjoy its benefits as part … Read more

RBI governor bats for crypto ban, says it could lead to severe financial instability

Reserve Bank of India Governor Shaktikanta Das drew a line between the use of technology to grow businesses and speculation in anonymous crypto that could potentially destabilize financial systems as laws last for the most important financial sector innovation of the century. enters phase. “Technology (Blockchain) is more than 10 years old, it didn’t come … Read more

RBI governor bats for crypto ban, says it could lead to severe financial instability

Reserve Bank of India Governor Shaktikanta Das drew a line between the use of technology to grow businesses and speculation in anonymous crypto that could potentially destabilize financial systems as laws last for the most important financial sector innovation of the century. enters phase. “Technology (Blockchain) is more than 10 years old, it didn’t come … Read more