Indian Financial News

29.04 / 09:53

Blockchain RBI UPI bitbns Indian Indian crypto exchanges facing tough times as volumes nosedive

According to a tweet from Aditya Singh, Co-Founder of Crypto India, the major crypto trading platforms have registered a two-third in the trading volumes on their platforms. As announced in the union budget 2022, the Indian government is levying 30 per cent taxations on the gains arising from the trade of crypto assets. Many of the market players saw this move as an anti crypto stance.

27.04 / 20:01

Metaverse Meta bitbns Indian Bitbns becomes first Indian exchange to list Metaverse Token ‘TRACE’

Bitbns has listed the popular metaverse token 'TRACE' on its platform. It has become India's first crypto exchange to list this token. Belonging to Trace Network Labs, TRACE is a widely popular metaverse token used for accessorising digital avatars. It empowers network users with governance control over the protocol with exposure to the world of NFTs expanding metaverse. Bitbns hosts more than 400 cryptocurrencies on its platform. TRACE has joined as the latest addition, following comes after successfully listing several other popular metaverse tokens, including Alien World, RFOX, and DEAPcoin.

25.04 / 09:53

cryptocurrency CEO Compilation CryptoExplainer Drop Indian cryptocurrency trading Cryptocurrency Trading Volumes Drop In Indian Exchanges After New Tax Rules

Cryptocurrencies' trading volumes in Indian exchanges fall after new tax rules

19.04 / 15:47

regulation Indian crypto rules Indian minister wants global crypto rules to curtail money laundering risk

Indian Finance Minister Nirmala Sitharaman in her address to the International Monetary Fund called for a global cryptocurrency framework to keep a check on the use of cryptocurrencies for illicit activities.

19.04 / 13:23

IPO Exchange Investment Indian valuation Blockchain.com's IPO Might Happen This Year, Indian Exchange CoinDCX Doubles Valuation

Investments in the crypto industry's infrastructure seem to be a lucrative opportunity, as another crypto giant might go public this year, while one exchange boosted its valuation sharply.

19.04 / 11:13

Blockchain Adoption Funding Indian Support Crypto exchange CoinDCX raises $135M funding to support Indian Web3

Crypto exchange CoinDCX became India’s first crypto business to complete a Series D funding round, raising $135 million in support of various Web3 and crypto initiatives in the country.

19.04 / 10:55

UPS cryptocurrency Platform CryptoExplainer Indian Actor Arya Signs Up For NFTs, A First In South Indian Cinema

Southern Star Arya has become the first Tamil actor to enter the NFT space.

19.04 / 10:55

Blockchain UPS Bitcoin Future Indian Influencer The Indian Future Of Crypto: A Q&A With CoinSwitch CBO Sharan Nair And Finance Influencer Pranjal Kamra

How does one find out the intrinsic value of crypto? Is limited supply enough to consider Bitcoin a store of value? How will crypto power the future of the web? These are some questions on every investor's mind—be it those who've been investing in stocks or the ones that have invested in crypto in recent years.

19.04 / 09:57

cryptocurrency Web3 Dubai Indian regulatory The new brain drain: Indian Web3 startups flock to Dubai amid regulatory uncertainty, stiff taxes

If there was one recurring theme that cut across multiple Web3 meetups held in Bengaluru, New Delhi and Mumbai in the last month, it was Dubai. A city that has almost become an emotion and a panacea for entrepreneurs building on the Web3 platform—the so-called next version of the Internet, which will be decentralised and run on blockchain—even as they grapple with an uncertain regulatory landscape and hefty taxes in India. Every second founder we met at these meetups has either moved to Dubai or is in transition.

18.04 / 18:25

Digital Aware Platform coinbase Indian Indian exchanges moving to P2P: Is it a temporary fix or a permanent solution

Almost a week after cryptocurrency exchanges in India halted all payments, traders in the India started using the peer-to-peer (P2P) payment system for the buying and selling of tokens. P2P payments enable the transfer of money directly from the buyer to the seller post which the seller would transfer tokens from their exchange wallet to the buyer’s exchange wallet.

14.04 / 14:43

Crypto exchanges CoinSwitch UPI Indian network Indian investors alarmed as crypto exchanges block transfer network

crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency through a widely-used state-backed transfer network, spurring users to renew demands for regulatory clarity. India has spent years working on a law to ban or regulate cryptocurrencies, with a ban backed by the central bank over risks to financial stability, though a recent decision to tax income from them suggests acceptance by authorities. Wednesday's moves follow a one-line statement last week by the National Payments Corporation of India, operator of the state-backed United Payments Interface (UPI), which eases bank transfers, that it was unware of its use by any crypto exchange.

12.04 / 12:27

Payments regulation coinbase Indian Indian crypto exchanges’ volume plunges as 30% tax goes into effect

Fresh data on Indian crypto exchanges’ trading volume reveals a significant decline in trading practices among Indians just ten days after the tax rule implementation. India’s new 30% crypto tax rule came into effect on April 1, despite many stakeholders and exchange operators warning against its ill effects.

06.04 / 10:03

Blockchain UPS cryptocurrency CryptoExplainer Indian Global Investors Show Huge Interest In Indian Web3 Start-Ups

Global Investors Show Huge Interest In Indian Web3 Start-Ups

04.04 / 12:31

business Blockchain coinbase Indian Coinbase to invest in Indian crypto and Web3 amid tax regulation clarity

Coinbase Ventures, an investment arm of American crypto exchange Coinbase, shared a plan to invest $1 million in various Indian cryptocurrency and Web3 initiatives via an in-person pitching event.

31.03 / 21:17

AXY Currency Indices CEO Citigroup Deal Indian Citigroup sells Indian retail arm to Axis Bank in $1.6bn deal

Citigroup is selling its Indian retail banking business to Axis Bank for $1.6bn in CEO Jane Fraser’s latest move to streamline the lender’s operations. It represents the bank’s eighth exit from a business in the Asian-Pacific region.

30.03 / 19:11

AXY Currency Indices CEO Citigroup Deal Indian Citigroup sells Indian retail arm to Axis Bank in $1.6bn deal

29.03 / 13:15

business Blockchain Adoption Indian Indian state gov't uses Polygon to issue verifiable caste certificates

The Government of Maharashtra, one of India's state governments, has started issuing caste certificates over the Polygon blockchain to citizens residing in Etapalli village, Gadchiroli district, as a part of the Digital India campaign.

29.03 / 08:21

Crypto exchanges Indian Eleven Indian crypto exchanges evaded Rs 81.5 cr GST, government says

Mumbai: The Central Goods and Services Tax (CGST) authority recovered Rs 95.86 crore from 11 crypto exchanges that collectively evaded Rs 81.54 crore in GST, said Minister of State for Finance Pankaj Chaudhary, in a written response to a question in the Lok Sabha on March 28. Chaudhary said while the government does not collect any data on cryptocurrency exchanges, a few “cases of evasion of Goods and Services Tax (GST) by cryptocurrency exchanges have been detected by Central GST formations.” The CGST had detected GST evasion to the tune of Rs 81.54 crore. With penalties, these exchanges paid Rs 95.86 crore, Chaudhary said.

21.03 / 20:41

Binance coinbase Gemini Bitcoin Indian Indian Crypto Tax Move, Shorting Coinbase, FTX and Gemini in New Markets + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

21.03 / 16:02

regulation Taxes Indian Indian crypto tax policy to treat each digital asset investment independently

Indian crypto tax policy became even more complicated just a week before the new tax laws are set to come into effect. A new parliamentary note answering queries about the new tax policies on virtual digital asset (VDA) suggest that traders can’t offset their losses from one digital asset against profit on another.

11.03 / 05:11

cryptocurrency Money laundering US US court Indian Indian-American among 2 indicted by US court for role in cryptocurrency money laundering

Two persons, including an Indian-American, have been indicted by a US court for their roles in a cryptocurrency money laundering scheme, the Department of Justice said. Lois Boyd, and Manik Mehtani -- both from Virginia -- face up to 20 years in federal prison.

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