Crypto-exchanges Financial News

14.07 / 18:49

cryptocurrency coindcx crypto-exchanges CoinSwitch regulatory IAMAI says forced to dissolve BACC owing to regulatory uncertainty in crypto industry

The Internet and Mobile Association of India (IAMAI) said in a statement on July 14 that it is dissolving the Blockchain and Crypto Assets Council (BACC) owing to the uncertain regulatory environment for the crypto industry.

07.07 / 16:35

cryptocurrency CEO Platform crypto-exchanges Indian Lost Indian cryptocurrency exchanges lost over 75% monthly trading volumes in last six months

In the first six months of 2022, top crypto exchanges such as WazirX, CoinDCX, Bitbns and Zebpay, among others, lost more than 70-75 percent of their trading volumes on a monthly average basis. Following the July 1 implementation of the 1 percent TDS (tax deducted at source) on virtual digital assets (VDAs) that was announced in the budget, the situation has only worsened.

20.06 / 06:57

cryptocurrency WazirX coindcx crypto-exchanges Indian Costs Crypto crash impact: Indian exchanges work on cutting costs, gear up for harsh winter

After a year of aggressive marketing, and high cash burn, Indian crypto platforms are now back to basics of focusing on products and looking at growing avenues of revenue generation, as they grapple with declining trading volumes, which is set to fall further as the 1 percent tax deducted at source (TDS) regime kicks in next month.

11.05 / 10:51

cryptocurrency crypto-exchanges Cryptocurrency industry braces for more uncertainty with proposed 28% GST

After a 30 percent tax on gains from crypto assets and a 1 percent tax deducted at source (TDS) on transactions, the Goods and Services Tax (GST) Council may now put cryptocurrencies and related services under the 28 percent tax slab.

15.11 / 11:11

cryptocurrency economy crypto-exchanges Crypto finance: Jayant Sinha-led Parliamentary panel to gather views from crypto exchanges, stakeholders

Representatives of crypto exchanges, Block chain and Crypto Assets Council (BACC), industry bodies and other stakeholders will make their submissions on crypto finance on Monday before a parliamentary panel chaired by BJP leader Jayant Sinha.

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