Nischal Shetty News

30.03 / 10:59

business cryptocurrency WazirX Have to wait till mid-April to see impact of crypto tax, says WazirX’s Nischal Shetty

April could be a decisive month for cryptocurrencies in India as income from the transfer of any virtual digital asset will be taxed at the rate of 30 percent beginning April 1. From investors to crypto exchange founders, everyone is waiting to see how the proposal put forward in the Budget 2022 plays out.

24.03 / 16:45

business Government Asia Tax man: India’s new tax policies could prove fatal for crypto industry

Indian crypto tax policy has become the hottest topic for Indian crypto traders and exchange operators as it is set to become law on March 24 and will come into effect starting on April 1.

24.03 / 09:09

WazirX coinswitch kuber coindcx Cryptocurrency exchanges NOT Top cryptocurrency exchanges not to advertise during IPL

New Delhi: Top cryptocurrency exchanges in India have collectively decided to not advertise during the Indian Premier League (IPL) this year, three people familiar with the development said. Last year, CoinDCX, WazirX and CoinSwitch Kuber as well as others, had collectively spent around Rs 90 crore on TV advertising for the IPL and the cricket T-20 World Cup “All the crypto exchanges have decided not to advertise in IPL,” Nischal Shetty, chief executive of crypto exchange WazirX told ET through a direct message on Twitter. “As an industry, we are working to ensure we have strict guidelines for responsible advertisement before we get into IPL ads again,” he added.

21.03 / 16:02

regulation Taxes Indian Indian crypto tax policy to treat each digital asset investment independently

Indian crypto tax policy became even more complicated just a week before the new tax laws are set to come into effect. A new parliamentary note answering queries about the new tax policies on virtual digital asset (VDA) suggest that traders can’t offset their losses from one digital asset against profit on another.

23.02 / 14:53

cryptocurrency WazirX asci guidelines ASCI guidelines to aid investor education and transparency, says Crypto industry

The crypto industry has welcomed the new set of guidelines released by the Advertising Standards Council of India (ASCI) for advertising virtual digital assets on February 23. Late last year, the industry had faced flak from the government and was criticised for misleading advertisements across print medium, television and social networks.

19.02 / 15:25

Dogecoin Ethereum cryptocurrency Bitcoin Top cryptocurrency prices today: Bitcoin, Ethereum, Shiba Inu tank 7% each; Dogecoin drops 5%

crypto traders turned defensive as tensions between Russia and Ukraine intensified. Following this, the appetite for riskier assets, including the digital token, dropped sharply. Investors now looked for safe heaven bets like gold, dampening the sentiments further. Barring the dollar-pegged Tether, all other top digital tokens were trading in deep red on Friday. Avalanche and Terra dropped 9 per cent each followed by Bitcoin and Ethereum, each losing over 7 per cent.

18.02 / 13:05

Binance Digital Platform Indian Indian Crypto Taxation Leads to Increase in Daily Sign-ups for Exchange Platforms

Indian crypto-asset exchange platform WazirX witnessed a 30% jump in its daily sign-ups since the country decided to impose a 30% tax on profits from cryptocurrency trading, according to co-founder Nischal Shetty.

18.02 / 05:03

WazirX Reserve Bank of India crypto tax Crypto tax in India spurs bonanza for digital-coin bourses

digital-asset exchanges. Binance-owned WazirX, India’s largest crypto bourse, has seen daily sign-ups on its platform jump almost 30% since Feb. 1, when the government unveiled the levy on the transfer of digital assets in its annual budget, said co-founder Nischal Shetty. At rival CoinSwitch, the daily increase was 35%, according to founder Ashish Singhal. While it might seem counterintuitive that a steep tax would cause people to flock to digital tokens, the step was seen as legitimizing an industry that’s been in regulatory limbo amid fierce resistance from India’s central bank. Shetty said he expects some 100 million people in the country to start investing in crypto in the next two to three years.

03.02 / 10:33

Investors Finance Minister Trade Investors queue up for cryptos after tax proposal

crypto platforms jumped 30-50% on budget day Tuesday, when the finance minister announced a proposal to tax digital assets. While crypto investors and exchanges looked for the fine print in the proposal, some viewed the announcement as an indirect way to endorse crypto trade in India. Industry executives said the budget announcement resulted in pent-up interest among risk-averse investors as well as companies who earlier feared the digital assets would be outlawed in India.

03.02 / 05:21

Blockchain WazirX WazirX founder launches blockchain called Shardeum

Mumbai: Nischal Shetty, founder of crypto exchange WazirX, has announced a new blockchain called Shardeum that will compete with others such as Ethereum and Solana. This is one of the first layer-one blockchains being built out of India. Shetty said that unlike other blockchains, Shardeum will solve for scalability and expensive transaction costs, while maintaining a high level of decentralisation, which he said was lacking in most blockchains today. “If you are looking at 200 million people today in crypto worldwide, this will go to a billion people in the future. There is no way the existing blockchains will be able to support that. Sharding is a known solution to solve this problem, which is what Shardeum is built on,” he said.

01.02 / 13:07

Blockchain COST Digital Breaking | India: Transfer of digital assets to attract 30% tax

Finance Minister Nirmala Sitharaman has unveiled the Indian Budget today for 2022-23 with two major announcements around cryptocurrencies.

01.02 / 11:13

cryptocurrency Personal Finance Tax Virtual assets Budget 2022: Tax clarity emerges on digital virtual assets

In Budget 2022, finance minister Nirmala Sitharaman gave clarity on how digital assets will be taxed. This means that gains from cryptocurrencies will now be taxed. At present, there are no explicit provisions dealing with taxation of cryptocurrencies under the income-tax act, 1961, given that the Cryptocurrency Bill is pending a debate in the Parliament.

22.01 / 16:17

FIVE Digital Waters Google Report: Indians maintain a cautious outlook as crypto markets witness a bloodbath

The global cryptocurrency market cap on 22 January went down by a massive 13.5% in the last 24 hours, to settle at around $1.6 trillion. Needless to say the tumble follows the year when the market witnessed its first record $3 trillion in cumulative market cap.

08.12 / 04:45

cryptocurrency WazirX SEBI Expect 100 mn Indians to own cryptocurrencies in 2-3 years: Nischal Shetty

Nischal Shetty, founder at cryptocurrency exchange WazirX. Speaking at a CII virtual event earlier today, Shetty said he sees the cryptocurrency universe in India growing exponentially with more than 1,000 startups working on various technological aspects of the blockchain. India currently has more than 15 million cryptocurrency users in the country holding assets worth more than $6 billion.

24.11 / 08:25

Government cryptocurrency Bitcoin Panic laced with optimism grips investors as House sets table for Crypto Bill

“I want to understand the possible effects of the new regulations coming in. When the government says outlaw all private cryptocurrencies in India, does it include the likes of bitcoin, polygon, ethereum etc?” a crypto user shared her anxiety on a Telegram channel.

24.11 / 08:25

cryptocurrency WazirX Bitcoin lawmakers WazirX’s Nischal Shetty: There is panic selling, lawmakers don't want a crypto that competes with rupee

Reacting to the Indian crypto market crash that came in the stride of a the Lok Sabha announcement of introducing a cryptocurrency bill in the upcoming winter session of the Parliament, WazirX founder Nischal Shetty said that a "lot of panic selling ensued overnight".

17.11 / 07:57

WazirX Crypto exchanges crypto ads WazirX, Bitbns hit pause on crypto ads

WazirX and Bitbns have decided to abstain from putting out advertisements, amid discussions of a possible regulatory clampdown of the cryptocurrency sector. To avoid luring users who do not have an understanding of virtual currencies, WazirX has been keeping away from print and television advertisements, founder Nischal Shetty told ET.

29.10 / 10:09

cryptocurrency shiba inu price WazirX Shiba Inu WazirX rides the Shiba Inu wave; records highest daily trading volume

Mumbai: WazirX, India's largest cryptocurrency exchange, recorded its highest daily trading volume of $562 million between Wednesday and Thursday. Meme coin Shiba Inu’s volume alone was about $338 million of the total, the company said.

28.10 / 19:39

UPS CEO Mobile India unlikely to ban crypto as it is ‘old school’ according to this exec

H2: Time for India to take cognizance of China’s CBDC development?

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