Shaurya Malwa · 16 hours ago · 2 min read
How India is emerging as a hub of blockchain and DeFi innovation
The fintech community has often viewed innovation and regulation as opposing forces, and cryptocurrency is no different.
Indians could be charged an extra 2% tax on Bitcoin and crypto ‘purchased abroad’
Bitcoin (BTC) and other cryptocurrencies bought from exchanges outside the country could cost Indian investors additional tax, while the tax department is looking into whether crypto falls subject to the 2% equalization levy, reported the Economic Times.
India could soon classify Bitcoin as a regulated ‘asset’
Lawmakers in India are reportedly looking to classify Bitcoin as an ‘asset’ regulated by the Securities and Exchange Board of India (SEBI), as per a report on local daily the New Indian Express this morning.
RBI governor “surprised” that Indian banks cited 2018 laws to block crypto users
Reserve Bank of India (RBI) governor Shaktikanta Das said this week the central bank has ‘no change’ with regards to its approach towards the crypto sector, local outlet Business Standard reported today.
Reserve Bank of India slams banks after they stop services for crypto users
The Reserve Bank of India, the country’s central bank, released a new directive today after local banks ceased crypto services for users citing a directive from 2018, an official filing shows.
Ripple (XRP) inks deal with major Middle Eastern bank for Oman-India corridor
BankDhofar, the second-largest bank in the Sultanate of Oman, has teamed up with blockchain-based payments network RippleNet, as per a release today.
Report: India may be considering crypto regulation instead of a blanket ban
India’s central government is currently considering the possibility of creating a regulatory framework for cryptocurrencies in the country—instead of a complete ban proposed in the past, several sources told The Economic Times today.
Vitalik Buterin donates $1 billion in Shiba Inu coin (SHIB) to India’s COVID fight
Ethereum co-founder Vitalik Buterin sent over $1 billion worth of Shiba Inu (SHIB) tokens to a charity that funds India’s ongoing COVID fight.
Australian cricketer Brett Lee donates 1 Bitcoin towards India’s coronavirus fight
Brett Lee, a former Australian international cricketer, has donated one Bitcoin (worth roughly $54,000 today) to the so-termed “Crypto Relief” fund aimed at helping Indian hospitals to fight the coronavirus pandemic.
Crypto community donates over $1.7 million in Ethereum and ERC20 tokens towards India’s coronavirus fight
Cryptocurrency holders and builders from around the world are pitching in funds to help India battle with the rising number of cases in the country, data and tweets from multiple sources show.
India may give crypto holders an “exit window” in case of Bitcoin ban
India’s officials are currently discussing the possibility of providing an “exit window” that would allow crypto holders to get rid of their assets ahead of the potential ban on all “private” digital currencies, The Indian Express reported today.
Here’s how former Coinbase CTO Balaji Srinivasan says India should embrace crypto
Former Coinbase CTO Balaji Srinivasan says India must enable cryptocurrency payments and related services for its citizens on several government-backed applications, as per a blog post over the weekend.
2018-era token jumps 10x in days before NFT marketplace announcement
Tokens of crypto exchange WazirX surged over 200% in the hours before reports of the business announcing its own NFT marketplace were released, data from multiple sources showed Monday.
Despite no laws, Indian minister says traders must pay taxes on Bitcoin
An official from India’s ministry of finance said Monday that all gains from trading cryptocurrencies like Bitcoin were liable to income tax, as per a report on markets outlet Financial Express.
Bitcoin drops 10% after Indian government proposes new crypto ban
Today, Bitcoin dropped more than 10% after the Indian government proposed legislation for banning Bitcoin, according to Reuters.
Here’s why DeFi will future-proof India’s crypto ecosystem
After less than a year of Indian cryptocurrency users enjoying unfettered access to the cryptocurrency markets, it now looks likely that the authorities will intervene once again.
Jack Dorsey and Jay-Z to collaborate on Bitcoin development fund
Twitter boss Jack Dorsey and rapper Shawn Carter, also known as Jay-Z, are funding a Bitcoin trust.
Ripple outlines four crucial steps to push cryptocurrencies in India
The Indian cryptocurrency market is teeming with entrepreneurs, funds, and tech know-how to create a vibrant crypto-ecosystem.