Cryptocurrency Analysis and News Portal
An unidentified lawyer filed a complaint naming Kumbhani and six others saying he was defrauded of his original investment of 54 bitcoins and the returns of 166 bitcoins that he was made to reinvest into platforms between 2016 and 2021, according to Indian Express. Source
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India’s Enforcement Directorate (ED) has frozen crypto exchange Vauld’s crypto and bank assets worth about INR 370 crore ($46,439,181). Vauld halted deposits and withdrawals last month. The Indian law enforcement agency is reportedly investigating more than 10 cryptocurrency exchanges. Indian Authority Freezes Another Cryptocurrency Exchange’s Assets The Enforcement Directorate (ED), a
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A major Indian cryptocurrency exchange, Wazirx, has had its bank assets of more than $8 million frozen by the Directorate of Enforcement (ED). The exchange was supposedly acquired by Binance in 2019. However, Binance CEO Changpeng Zhao (CZ) now claims that the acquisition was “never completed.” Wazirx, however, maintains that
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Subhash Chandra Garg, India’s former finance secretary, said blockchain’s potential will be recognized and adopted in India, but it has so far been overshadowed by the government’s opposition to the use of cryptocurrencies associated with the new technology.“Blockchain was always seen as something innovative, but it is so deeply masked
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Indian finance minister Nirmala Sitharaman has called for global collaboration on cryptocurrencies, assessing their pros and cons to form a common standard and taxonomy.Addressing a question on cryptocurrency in the Lok Sabha, the lower house of the Indian parliament, Sitharaman said that the Indian central bank had advised the government
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India’s finance minister has called on the G20 countries to bring crypto within the “Automatic Exchange of Information” framework. More than 100 countries have adopted the Common Reporting Standard under the framework. G20 Urged to Bring Crypto Under Automatic Exchange of Information India’s finance minister, Nirmala Sitharaman, talked about cryptocurrency Friday during
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In its attempt to relieve the pressure against the rupee, the Indian government announced on July 1 that it had hiked the duty on imported gold by five percentage points to 12.5%. However, there are fears the import duty hike will spur a resurgence in the smuggling of the commodity.
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Cryptocurrency trading is taking another pattern and shape in India due to the implementation of taxation laws. As a result, the traders are experiencing a different turn in their transactions lately in the country. The new rule in India for 1% taxation on every transaction has been enforced from July
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In its latest financial stability report published on Thursday, the Reserve Bank of India, or RBI, reiterated its skepticism of digital assets, writing: "We must be mindful of the emerging risks on the horizon. Cryptocurrencies are a clear danger. Anything that derives value based on make-believe, without any underlying, is just
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"We have taken up a total of 453 ad complaints related to Virtual Digital Assets till now (Jan 2022 to May 2022). Of them, 447 relate to influencers. Out of the total 453 ads that we examined, 419 required modifications which were duly informed to the influencers," said Manisha Kapoor,
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