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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.

As the blockchain and decentralized finance world expands, Ethereum stands out as an attractive investment. This guide helps Indian investors navigate the process of buying Ethereum safely and effectively, unlocking the potential of digital assets.

Binance, the world's largest cryptocurrency exchange, is drawing traders in India to buy and sell cryptos on its platform while letting them cut deals in rupees — by either online fund transfers from domestic bank accounts, or using services like G-pay, or even physical delivery of cash. Here's a case where an overseas exchange is offering an 'escrow service' that virtually matches a local buyer and seller in an offshore marketplace though the payment is settled here in INR. The transactions are learnt to have attracted the attention of regulators in India. Technically, Binance may not be breaking any law here as it is not running a rupee bank account but simply acting as a neutral third-party, providing an 'escrow facility' for transfer of cryptocurrencies which are anyway not recognised as legal tender. However, chances are that the local traders, putting in 'advertisements' for buying or selling cryptos on the Binance site, which is replete with Indian log-in names, may be overstepping rules on exchange control and anti-money laundering.

Mumbai: Crypto trading exchange CoinDCX has raised $135.9 million (about Rs 1,000 crore) from investors led by Pantera Capital and Steadview Capital, doubling its valuation to $2.15 billion in less than a year to become the most valued crypto trading platform in India. The funding comes in the backdrop of crypto exchanges facingnewly introduced taxation rules in India. CoinDCX and its peers, like WazirX and CoinSwitch Kuber, have seen their volumes plummet to new lows this month due to restricted access to modes of depositing money for users. According to the company, Pantera Capital and Steadview Capital infused about half of the funds in the latest round, which also saw participation from Kingsway Capital, DraperDragon, Republic, and Kindred Ventures.

Coinbase Global Inc. conference in Bengaluru, India, on April 7, he had little reason to anticipate the fallout that would shortly ensue. Chatterjee, the company’s chief product officer, told the assembled audience that crypto investors would now be able to use the country’s online retail payments system to transfer funds to its local exchange. Hours after Chatterjee’s announcement, the central bank-backed entity that runs the system — called United Payments Interface — said it was “not aware” of any crypto exchange using the network. Within three days of the event, Coinbase had halted rupee transfers to its trading app via UPI. The abrupt reversal left Coinbase customers without any way of funding their accounts with rupees, dealing a blow to its expansion plans in India. “We are committed to working with NPCI and other relevant authorities to ensure we are aligned with local expectations and industry norms,” a spokesperson for Coinbase said in a statement to Bloomberg on April 11, referring to the National Payments Corporation of India, which operates UPI.

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.

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.

Mumbai | Bengaluru: US-based crypto trading firm Coinbase has temporarily disabled the option to buy cryptocurrencies using the Unified Payments Interface (UPI) in India. «Purchases with this payment method are temporarily unavailable,» Coinbase's mobile application said on Sunday.