Purushottam Anand News

03.06 / 13:39

Waves Binance binance delisting Binance to Delist Four Cryptos, Citing Lack of Industry Standards

Binance, the world’s largest crypto exchange, is ceasing support and trading on all spot and margin pairs for four altcoins.

03.06 / 02:17

ETH Binance Platform wellness Trade blues Binance stops cash payment for P2P trades

Crypto traders in India can no longer cut 'cash deals' on Binance, the world's largest cryptocurrency exchange. Until recently, local punters could use the 'escrow service' offered by the offshore exchange to post a buy or sell order on the exchange platform and close a transaction by making payment in rupees here. Besides standard payment options like online fund transfers or UPI, traders had the flexibility to settle a trade through physical delivery of cash as well as depositing cash in a bank account.

20.05 / 14:47

RBI Reserve Bank of India foreign NOT Not all VDAs are foreign as crypto industry bats for conducive environment in India

Reserve Bank of India (RBI) raised a concern over cryptocurrencies or virtual digital assets (VDAs), which might lead to the 'dollarization' of the economy, as feared by the central bank. The apex lender fears that crypto assets, issued by foreign players, could be against the country's sovereign interest. Officials said cryptos have the potential to become a medium of exchange and replace the rupee in all financial transactions.

01.02 / 17:19

Budget 2022 Union Budget 2022 crypto tax union budget Budget 2022: Did FM just make cryptocurrencies legal by taxing them?

While this has boosted the morale of the industry, a lot of crypto enthusiasts are wondering if the Finance Minister just made cryptocurrencies legal. According to Purushottam Anand, Founder of blockchain law firm Crypto Legal, taxing income from cryptocurrencies does not necessarily and explicitly legalise cryptocurrencies because income tax is not concerned about the manner or means of acquiring the income.

20.01 / 04:57

cryptocurrency cryptocurrency in india crypto assets Budget 2022 Crypto players seek clarity on taxes and regulation from Sitharaman's Budget

Nirmala Sitharaman, who will table the Union Budget on February 1. Currently, there is no legislation, act or law to govern, regulate or prohibit dealing in crypto assets in India. Therefore, it is not illegal to sell, purchase, deal or mine cryptocurrencies or set up a cryptocurrency exchange in the country. However, the demands from the industry players, investors and other stakeholders are likely to reach the government, who may finally give heed to clear the clouds of ambiguity and may steer to the way ahead for the future.

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