Coinswitch kuber Financial News

The Enforcement Directorate (ED) probed 5 premises of Coinswitch Kuber in a case pertaining to alleged flouting of the Foreign Exchange Management Act (FEMA) norms by the crypto exchange.

In a panel discussion hosted by ETMarkets, CoinSwitch CEO Ashish Singhal expressed optimism regarding the regulatory landscape's evolving stance towards innovation within India's digital ecosystem. Singhal also shed light on the company's efforts to educate beginners, the growing interest of businesses in blockchain technology, interactions with regulatory authorities, and strategies for navigating the complex regulatory landscape. Edited excerpts:

After global exchanges, Indian exchanges including WazirX, Coinswitch Kuber, and CoinDCX have delisted the stablecoin Luna. The Terra crypto token was taken down as its price fell below $1, eroding the wealth of its investors.

Mumbai: In a strongly worded reaction to its recent run-in with the Indian central bank, Brian Armstrong, CEO and cofounder of Nasdaq-listed Coinbase said the company disabled its Unified Payments Interface (UPI) services because of “informal pressure” from the Reserve

CoinSwitch Kuber, a large crypto intermediary, two persons told ET. What triggered the call is unclear, but sources said Kotak has decided to pause till the dust settles on cryptos. «There has been no fresh Reserve Bank of India directive asking banks to stay away from cryptos. But senior supervisory managers (of RBI) are telling some banks to exercise caution on cryptos till there is regulatory and legal clarity,» said a senior official of another bank. Kotak's stand could deal a blow to the unregulated industry. It follows digital wallet MobiKwik reportedly snapping its links with crypto-related payments since the beginning of April.

India decided in February to tax income from cryptocurrencies and other digital assets at 30%.

Cryptocurrency exchange apps like Coinbase and CoinSwitch Kuber have disabled UPI payment methods for crypto purchases drawing significant ire of the platform’s users as the battle for crypto legalisation in India continues. CoinSwitch today disabled all forms of payment including bank transfers two days after Coinbase halted UPI, the only crypto purchase option on its platform.

Cryptocurrency exchange apps like Coinbase and CoinSwitch Kuber have disabled UPI payment methods for crypto purchases drawing significant ire of the platform’s users as the battle for crypto legalisation in India continues. CoinSwitch today disabled all forms of payment including bank transfers two days after Coinbase halted UPI, the only crypto purchase option on its platform.

Cryptocurrency exchange CoinSwitch Kuber has disabled all modes of payments for purchasing crypto purchases including bank transfers drawing significant ire of the platform’s users. This comes two days after Coinbase had to disable UPI, the only crypto purchase option on its platform.

The government on Monday said Rs 95.86 crore has been recovered from 11 cryptocurrency exchanges for evasion of Goods and Services Tax (GST). The total amount includes penalty and interest.

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.

CoinSwitch has launched a Recurring Buy Plan (RBP) investment tool.

Mumbai: Indian cryptocurrency exchanges have recorded higher trading volumes in the past few days owing to extreme volatility in the market, as many traders and investors liquidated some of the riskier tokens, rebalanced their portfolios by moving to stable coins and also indulged in opportunistic buying to average down their portfolios. During and after the weekend crash, ET spoke to multiple exchanges to gauge the trading volumes — most recorded higher transaction levels, but a few witnessed a dip too. «We have seen volumes increase by around 15%,» said Avinash Shekhar, co-CEO, ZebPay. A CEO of a top exchange said on condition of anonymity, «We saw a sharp decline in trading volumes during the weekend as most investors were trying to figure out the reasons and consequences of the current dip in crypto.»

crypto market has wiped out about $1 trillion of investors' wealth. Bitcoin has dropped about 50 per cent of its value from the peak, whereas other altcoins including Solana, Cardano, Polkadot, Fantom, Near Protocol have lost about two-third of their value in the latest round of correction. Commenting on the crypto carnage, Ashish Singhal, Founder & CEO, CoinSwitch Kuber, India's largest crypto platform, said the current trends are a reflection of swings in global financial markets and news of regulatory proposals globally. Several early investors in crypto have also been booking profits, he said in a series of tweets.

CoinSwitch Kuber is India's largest and most valued crypto unicorn.

CoinSwitch Kuber, India's largest crypto company in terms of users, has added new crypto assets in the month of December for investors. Decentraland (MANA), The Sandbox (SAND), Gala (GALA), Request (REQ), Coti (COTI) are the assets that are included on the platform.

CoinSwitch Kuber announced a new addition to the senior leadership of the company, with Ashish Chandra taking over as the general counsel. Chandra will be building a conducive legal framework for the business as crypto-asset adoption continues to grow.

CoinSwitch Kuber, India's largest and the most-valued crypto unicorn (in terms of user base), has appointed Ashish Chandra as the General Counsel. Chandra will play a pivotal role in building a conducive legal framework for the business as crypto-asset adoption continues to grow amidst the mainstreaming excitement. Chandra has over 20 years of experience across internet and tech giants, including WhatsApp India, Netflix and eBay.

Mumbai: India could see apps like Robinhood emerge in the next few years if cryptocurrencies are classified as an asset class. Nasdaq-listed Robinhood is a mobile app that allows users to conduct commission-free trades of stocks, exchange-traded funds and cryptocurrencies.

Some of the exchanges, including CoinDCX and CoinSwitch Kuber, have re-started advertising and marketing campaigns, albeit not as aggressively as earlier, industry insiders said. In most cases, the advertisements are aired on social media and other digital platforms.

New Delhi: The Advertising Standards Council of India (ASCI) is in discussions with the government to refresh guidelines related to cryptocurrency advertising, to include adequate disclosure of risk, ensuring that consumers don’t mistake crypto products to be legal tender and are not misled by exaggerated claims or by unfair comparisons with regulated asset classes, ASCI general secretary Manisha Kapoor said.