Cryptocurrency Analysis and News Portal
One of the key themes for 2022 is the relationship between governments and the crypto industry. On today’s show, NLW looks at the latest from India, one of the countries with the highest degree of speculation on whether banning or regulation is the path forward. The regulatory and legalization path
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WazirX exchange’s native token, WRX, benefited the most from India’s latest U-turn on crypto this week.WRX’s price jumps on India tax newsWRX’s price surged nearly 30% to over $1, hitting a three-week high after the Indian government had announced a new tax regime for the regional crypto sector, reversing entirely from its earlier
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The Indian government has announced the upcoming launch of the country’s central bank digital currency. The digital rupee will be issued by the Reserve Bank of India (RBI) in the financial year 2022-23, Indian Finance Minister Nirmala Sitharaman said during her budget speech. RBI’s Digital Currency, the Digital Rupee, Coming Soon India’s
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Amitabh Bachhan, Bollywood’s biggest superstar, affectionately known as “Big B,” launched an NFT collection with several thoughtful collectibles, including poem readings and even a Big B CryptoPunk. The entire collection sold for just under $1 million. While this is not bad, it does not compare to big ticket NFT sales
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The Indian government has proposed taxing income from cryptocurrencies and other digital assets at 30%. India’s finance minister, Nirmala Sitharaman, said: “There’s been a phenomenal increase in transaction in virtual digital assets … The magnitude and frequency of these transactions have made it imperative to provide for a specific tax
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Having made this declaration on the digitized rendition of the Indian rupee, India’s first Woman Finance Minister also offered the implementation of a thirty percent tax on crypto that focuses on the exchange and trade of virtual digital assets.On the 1st of February, Indian Finance Minister Nirmala Sitharaman announced the
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Indian Finance Minister Nirmala Sitharaman announced a 30% tax on any income from the transfer of virtual digital assets, a first for the nation.Additionally, she also said that the digital rupee will most likely be issued in the 2022-23, which is the first time the government has given a timeline
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"Prima facie, self-declaration of crypto ownership and tax filing is a progressive move that displays the government's conviction in monitoring, validating, and regulating the evolution of crypto economy," Gaurav Mehta, founder of Catax, a one-stop-shop for crypto taxes, blockchain auditing and forensics, said. Original Source
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Indian Enforcement Directorate has seized assets worth approximately $5 million in connection with an alleged cryptocurrency scam involving Morris coin that has duped investors out of $162 million. The crime proceeds were used to buy cryptocurrencies. India Authorities Seize Assets in Alleged Crypto Scam Case India’s Enforcement Directorate (ED), a specialized financial
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Indian legal experts reportedly say that it is too late to ban cryptocurrency despite calls for a complete crypto ban by the central bank, the Reserve Bank of India (RBI). The Swadeshi Jagran Manch (SJM), an affiliate of the nationalist Rashtriya Swayamsevak Sangh, also passed a resolution calling for an
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