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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.
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.
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.
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.
BankDhofar, the second-largest bank in the Sultanate of Oman, has teamed up with blockchain-based payments network RippleNet, as per a release today.
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.
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.
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.
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’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.
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.
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.
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.
Today, Bitcoin dropped more than 10% after the Indian government proposed legislation for banning Bitcoin, according to Reuters.
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.
Twitter boss Jack Dorsey and rapper Shawn Carter, also known as Jay-Z, are funding a Bitcoin trust.
The Indian cryptocurrency market is teeming with entrepreneurs, funds, and tech know-how to create a vibrant crypto-ecosystem.
Four months after the high-profile acquisition of Indian crypto exchange WazirX by Binance, BitMEX invested in a $3 million funding round for another local cryptocurrency exchange in India called CoinDCX.