Cryptocurrency Analysis and News Portal
The Reserve Bank of India (RBI) has appealed to the country’s presidency of the G20 group of the world’s largest economies as a pulpit to call for the development of a global regulatory framework for crypto assets. In its latest financial stability report, released Dec. 29, the bank again expressed
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“The IMF is [a member] of the FSB but the FSB, established after the 2009 G20 London Summit is seen to be closer to the G20 and the U.S. at a time of Russia’s war against Ukraine,” said a source often consulted on policy matters by India’s Finance Ministry. “India
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The RBI is test-running its digital rupee in numerous banks and Indian cities as it nears the official launch of the CBDC. Ahead of the proper launch of the digital rupee, the Reserve Bank of India (RBI) has decided first to conduct a pilot rollout of the virtual fiat. According to the Indian
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The Reserve Bank of India will start testing its retail central bank digital currency (CBDC), the digital rupee, in Mumbai, New Delhi, Bengaluru and Bhubaneswar with the initial participation of four banks: State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank, it announced Tuesday. Source
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Having tested the wholesale usage of its central bank digital currency (CBDC), the Reserve Bank of India (RBI) is preparing to conduct the retail pilot of the “digital rupee.” The pilot should launch within a month.According to the Economic Times of India, the RBI is in the final stage of
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Binance CEO Changpeng Zhao (CZ) says India is currently not a viable business environment for his cryptocurrency exchange, citing a strict tax regime. The executive explained: “Binance goes to countries where regulations are pro-crypto and pro-business.” Binance’s CEO on Indian Crypto Environment The CEO of cryptocurrency exchange Binance, Changpeng Zhao (CZ), does
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Even though the legality of crypto in India is still a matter of debate, new crypto tax laws are already affecting businesses and individuals. Source
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India’s taxation authority has proposed new changes to the filing of income tax returns that could have a significant impact on those holding virtual digital assets (VDAs) or cryptocurrencies or possibly even investments in DAOs (Decentralized Autonomous Organizations). Source
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With the presidency, India – which has passed what the local industry has criticized as a crippling tax regime, while the country's central bank has called for a ban on cryptocurrencies – will now have a prominent role in framing global crypto regulation. As hosts, India will set the agenda
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The agencies included the Enforcement Directorate, a government agency that fights financial crime, and the income tax department. They were alerted by the Financial Intelligence Unit, which alleged illicit drug transactions between 2019 and 2021 worth $3.4 billion (28,000 crore INR) were facilitated by some of those exchanges, the report
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