Indian Financial News

06.07 / 14:13

Adoption Zebpay Taxes Bitcoin Indian Crypto tax deters 83% Indian investors from crypto trading: WaxirX report

The implications of what anti-crypto regulations can do to a thriving economy can be seen first-hand unfolding in India. Supporting the massive decline in trading volumes across all Indian crypto exchanges, a report from WazirX reveals a change in investor sentiment as the Indian government imposed its second crypto law — a 1% tax deduction at source (TDS) on every crypto transaction.

05.07 / 23:13

Trading Tax Bitcoin Indian One Exchanges Stands Out as Indian Crypto Trading Drops Following New Tax

Crypto trading volumes on major Indian exchanges saw a notable decline on July 1 compared to the day before, after a new 1% tax on all crypto transactions was implemented in the country. However, one exchange still stood out as a winner, with trading volumes rising.

05.07 / 15:11

cryptocurrency Binance Tax Bitcoin foreign Indian Early winter for Indian crypto exchanges as trading volumes slump, users flock to foreign exchanges

Winter has come early for Indian cryptocurrency exchanges, which are experiencing a slump in the value of transactions as investors flee to overseas exchanges after the implementation of a 1 per cent tax deducted at source (TDS) on July 1.

05.07 / 05:31

regulation income Taxes Indian Crypto trading volumes Indian crypto trading volumes slump following hefty taxes

Trading volume on three major Indian crypto exchanges plummeted 72.5% on average since July 1, when a 1% tax per transaction was enforced in the country.

03.07 / 11:39

crypto currencies stock markets Indian Amid rising gloom, are VCs reluctant to fund Indian crypto players?

crypto market is in a tight bear hug and market mavens believe that crypto winter is likely to last longer than what was expected. The gloom in the crypto market has turned firms operating in the space risk aversive. Many of them are looking to trim their payroll size in order to conserve funds amid a freefall in the digital token market. Not only this, even stringent taxations and regulatory frameworks are hurting crypto players. The pessimism has affected deal size and volumes in the crypto industry.

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.

16.06 / 09:11

coinbase Mudrex US Federal Reserve Unocoin Indian Global players lay off staff amid crypto winter but Indian exchanges are on a hiring spree

After the announcement of layoffs from Crypto.com and BlockFi plan, another global exchange Coinbase has announced to vacant its chairs from the offices across the globe. Crypto exchange Crypto.com and lending platform BlockFi plan to cut a total of more than 400 jobs, whereas Coinbase announced to layoff as many as 1,100 employees or 18 per cent of its workforce on Tuesday.

15.06 / 14:21

Blockchain Token Indian This Indian token defied gravity amid crypto selloff to rally 40%

crypto markets, India's own Gari token has risen about 40 per cent in the last 24 hours after blockchain launched the Gari mining program. The Gari token is powered by ChinGari, a social media platform for content creators. Under the newly launched mining program, creators and users will get Gari tokens to watch, like, share and comment on the content on the platform. Chingari is among the world's fastest-growing on-chain social apps and claims to host 4 crore monthly average users (MAU). Chingari has become the first social app in the world to offer crypto to its creators and users on the platform.

12.06 / 13:01

UPS Strategy Indian Turkish Cryptocurrency Exchange Bitay Is Planning To Enter The Indian Market

Turkish Cryptocurrency Exchange Bitay Plans To Enter Indian Market

06.06 / 10:57

Altcoins Airdrop Tax Terra Indian Indian Terra Investors Brace for Another Blow After LUNA 2.0 Airdrop Under New Tax Laws

Terra network coin holders in India are facing a “double whammy” following the LUNAC and UST crash last month – and could be hit with 30% tax bills from the recent LUNA 2.0 airdrop.

26.05 / 10:35

cryptocurrency Indian CoinTracker forays into Indian market

Cryptocurrency portfolio tracking and tax compliance platform CoinTracker on Wednesday announced its foray into the Indian market. The company's move also comes against the backdrop of the government mandating a 30 per cent taxation on such transactions with effect from April 1. Starting today, the crypto tax compliance and portfolio tracking products will be available to all crypto users across India, it said, while announcing the launch of its product in the country. CoinTracker said users in India can now deal in crypto assets without worrying about the challenges associated with tracking, reconciliation, accounting and compliance.

25.05 / 13:13

cryptocurrency CEO Platform cryptocurrency news Indian Cryptocurrency Platform CoinTracker Enters Indian market

CoinTracker has announced its foray into the Indian market

19.05 / 19:07

Government Blockchain Bitcoin Indian NOT Indian government's ‘blockchain not crypto’ stance highlights lack of understanding

Indian crypto businesses are struggling with the new tax policies as trading volumes have dried up and many established crypto firms are looking to relocate to more crypto-friendly jurisdictions.

17.05 / 09:09

regulation Indian Government Indian RBI warns of crypto 'dollarization' of Indian economy

Officials from the Reserve Bank of India (RBI) have reportedly sounded the alarm bells again over crypto adoption which they claim will ultimately lead to the “dollarization” of the local economy.

14.05 / 09:37

WazirX Terra Luna Indian Indian exchanges delist LUNA after 100% crash in token

Terra blockchain's native token LUNA, Indian exchanges delisted the beleaguered token from their platforms. LUNA has tanked to merely a few decimal cents from its peak of $118, wiping out 100 per cent wealth of the investors. Overall, the token has wiped out $40 billion from their pockets. In its support blog, WazirX said they are delisting the pairs of LUNA/USDT, LUNA/INR, LUNA/WRX. «We will enable Binance free transfer for users to withdraw their LUNA funds,» it added. USDT is Tether, a stablecoin, and WRX is WazirX's utility token.

13.05 / 16:23

cryptocurrency WazirX coinswitch kuber Luna Indian Indian exchanges delist Luna after its price crashed below $1

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.

13.05 / 13:07

Crypto Investors Bitcoin Luna Indian Luna crash sinks wealth of Indian crypto investors

crypto investors took another dive triggered by the crash of a popular stable coin, TerraUSD, or UST, in the last 48 hours in a market already roiled by rising interest rates, inflation, and Russia’s war on Ukraine. The algorithmic stable coin is supposed to maintain a one-to-one peg against the US dollar but slumped nearly to $.26 to the dollar on Wednesday night after the complex mechanisms that were supposed to hold the dollar peg failed leading to the UST crash. And as a result Luna, Terra’s sister token which powers the Terra blockchain, dropped below $0.30 on Thursday from $80 in a matter of 3 days.

11.05 / 12:25

business Adoption coinbase Indian Indian central bank’s 'informal pressure' disrupted payments: Coinbase CEO

Just three days after debuting in the Indian market, United States-based crypto exchange Coinbase abruptly stopped using United Payments Interface (UPI), the most popular payment service in the region. Coinbase CEO Brian Armstrong later revealed that the service disruption was due to an “informal pressure” from India’s central bank.

09.05 / 13:11

Blockchain Adoption security Indian Indian central securities depository to back up its monitoring of bonds by blockchain

The National Securities Depository (NSDL), India's central securities depository based in Mumbai, launched blockchain-based security and covenant monitoring platform.

02.05 / 13:39

regulation Indian Government Indian user data Indian IT Ministry directs crypto exchanges to store user data for 5 years

The Indian Computer Emergency Response Team (CERT-in), which falls under the Ministry of Electronics and Information Technology, issued a new directive on Thursday, forcing crypto exchanges, virtual private network (VPN) providers and data centers to store a wide range of user data for up to five years.

30.04 / 14:51

Blockchain Binance education Indian Binance to drive crypto and blockchain awareness among Indian investors

Crypto exchange Binance announced the parallel launch of three key educational initiatives to fast-track educating Indian investors and students about the cryptocurrency and blockchain ecosystem.

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