Cryptocurrency exchanges Financial News

12.05 / 05:17

Kucoin Binance Cryptocurrency exchanges cryptocurrency trading Financial Intelligence Unit Financial Financial Intelligence Unit clears Binance and Kucoin to be Virtual Asset Service Providers

Financial Intelligence Unit (FIU) has approved the applications of offshore cryptocurrency exchanges Binance and Kucoin to register them as Virtual Asset Service Providers (VASPs) to trading in India, a top government official said. Kucoin paid a penalty of Rs 35.5 lakh for past non-compliances and the ban on its websites has been lifted. Meanwhile, Binance's quantum of liabilities is still being computed, he said.

30.07 / 05:32

WazirX Cryptocurrency exchanges security breach Customers WazirX's controversial solution to security hack: $230 million loss to be distributed among all customers

cryptocurrency exchanges, recently faced a significant security breach, resulting in a loss of over $230 million. In response, WazirX announced on Saturday a controversial solution: distributing the loss among all customers. Following the cyberattack, which resulted in the theft of approximately $230 million, equivalent to 45% of user funds, WazirX is implementing a «socialized loss» strategy.

06.03 / 20:33

Ethereum cryptocurrency Cryptocurrency exchanges meme coins Shiba Inu Bitcoin Much excite, very wow: Meme coin volumes jump on local bourses

meme coins has spiked on Indian cryptocurrency exchanges, taking a cue from a resurgence in the global crypto market where the blue-chip Bitcoin and Ethereum currencies have scaled to new record highs after a year and half of falling prices. Popular meme coins such as Shiba Inu (SHIB), Dogecoin, Floki, Vita Inu, Doge Bonk and PepePAD accounted for around half the total trading value of $113 million on the top three Indian crypto exchanges in the 24 hours till 7 pm Tuesday, according to data from global crypto data platform CoinMarketCap.

22.05 / 15:47

coinbase Cryptocurrency exchanges Bittrex Malaysia Regulator Orders Crypto Exchange Huobi Global Limited To Stop Operations

Cryptocurrency exchange Huobi Global Limited has to stop operations in Malaysia after its regulator found it was operating without being registered.

18.07 / 15:11

Cryptocurrency exchanges Lobby Crypto players plan new industry body as IAMAI dismantles lobby group

Cryptocurrency exchanges and blockchain companies are trying to cobble together their own independent association after Internet and Mobile Association of India (IAMAI)dismantled Blockchain and Crypto Assets Council (BACC) last week in a surprise move, bringing to an end an affiliation in which both sides were increasing taking divergent stances on key issues. Industry insiders said preliminary talks are on between key stakeholders, but a new association will take time to form as key stakeholders are still to find a common ground. The differences between the two camps (IAMAI and BACC) had been simmering for many months, with crypto players feeling that IAMAI wasn’t doing enough to push their cause, while the industry body felt that the crypto players needed to do more in terms of compliance with government regulations.

21.05 / 01:25

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14.05 / 21:35

coindcx Zebpay Cryptocurrency exchanges BuyUcoin Cryptocurrency exchanges want clarity on TDS liability if they move operations overseas

Mumbai: Some cryptocurrency exchanges that have either moved or are looking to move out of India have reached out to their tax advisors to figure out if they are required to still comply with the 1% TDS regulation. Many tax experts have said that if an exchange sets up an office outside the country, the taxman may find it tough to collect the 1% tax on transactions. The government in this budget introduced a 1% tax deducted at source or TDS on every transaction, along with a30% tax on returns of investors and traders.

08.04 / 07:29

Blockchain cryptocurrency Cryptocurrency exchanges fall Crypto exchanges look at institutional investors, college students as volumes fall

Cryptocurrency exchanges are hoping to rope in large institutional investors on one hand and trying to get college students to explore blockchain deals on the other to stem the drastic drop in daily trading volumes after India introduced tax on virtual digital assets. Many investors and traders are shunning crypto assets as profits will attract 30% tax from April 1. Not just the recent announcement of disallowing set-off would result in loss for most investors, shrinking risk appetite. All exchanges in India have seen a drop of at least 50% in the last few days compared to the trading volumes last year. This also comes at a time when exchanges are grappling with how exactly to compute the 1% tax deducted at source on each transaction.

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.

26.02 / 18:17

Blockchain UPS cryptocurrency Cryptocurrency exchanges Cryptocurrencies Enter Ukraine Conflict

Ukraine's cryptocurrency sector has been hit by Russian invasion

17.11 / 10:55

cryptocurrency RBI Cryptocurrency exchanges Arbitrage Price arbitrage a new worry as several crypto platforms crop up

cryptocurrency exchanges on the number of platforms — and the possibility of price arbitrage. Sources close to the discussions told ET that concerns are being raised around the number of cryptocurrency exchanges operating out of India and how prices of the same cryptocurrencies tend to differ at the same time across platforms creating arbitrage opportunities. The government has held several meetings over the last few days thrashing out issues with the crypto stakeholders.

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