Cryptocurrency Bill In India
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FM Claims Access to WhatsApp Messages Led to Seizure of Crypto Worth Rs. 90 Crore
This week in Parliament, Finance Minister Nirmala Sitharaman stated that encrypted communication channels are being misused for financial crimes like money laundering and tax evasion. She revealed that authorities were able to seize over Rs. 90 crores in crypto assets from a syndicate thanks to access to WhatsApp messages.
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Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
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‘Huge Win for Web3’: Indian Crypto Industry Reacts as US House’ Approves FIT21 Bill
Assessing the hold that the US has over the growth of the crypto industry, commentators from the Indian Web3 community say that US’ regulatory framework for crypto could show positive results. In conversation with Gadgets360, Sharedeum co-founder and CEO Nischal Shetty noted what it means for Indian crypto enthusiasts.
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US Lawmakers Pass FIT21 Crypto Bill That May Regulate SEC’s Involvement in Sector Oversight
The Financial Innovation and Technology for the 21st Century Act (FIT21) has been approved by the US House of Representatives. With this, the US has finally joined the list of nations alongside India, Japan, and South Korea among others -- that are working on bringing the volatile and exploitable digital assets sector under regulatory oversight.
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US Lawmakers Introduce Bill to Prohibit Digital Dollar Testing Due to Threat to American Liberties
US Congressman Alex Mooney has proposed a law called — the Digital Dollar Pilot Prevention Act (H.R. 3712). A total of 14 House Republicans have chosen to co-sponsor this bill along Mooney, who states in the proposal that CBDCs are “being used by authoritarian countries right now to crack down on dissent”.
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India’s Upcoming Digital Personal Data Protection Bill: Ten Things to Know About the Proposed Legislation
India’s much awaited Digital Personal Data Protection Bill (PDPB) has bagged a thumbs up from the Parliamentary Standing Committee on Communications and Information Technology this month. A senior government official has said that the upcoming data protection bill will change the way that people’s personal data is being harvested by companies.
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Turbulent Year for Cryptocurrencies Could Spur Progress Towards Regulatory Norms for Digital Assets in 2023
Cryptocurrency could see more regulatory norms in 2023, after a year of turbulence that saw the collapse of massive trading platform FTX. The Reserve Bank of India has been forthright about its views on cryptocurrency and its Governor Shaktikanta Das said last month that cryptocurrencies should be "prohibited" and that if they are allowed to grow "...
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How the 1 Percent TDS Provision Will Affect the Growth of the Crypto Industry
The recently introduced 1 percent TDS on virtual digital asset (VDA) transactions, as part of the Finance Bill 2022, has been described as highly detrimental to the industry. The tax provision is expected to discourage entrepreneurs and investors from developing the burgeoning industry while the government could lose out on an opportunity to earn t...
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Will India’s Crypto Tax Put a Dent in Innovation and Growth of the Emerging Sector?
On this week's episode of Gadgets 360 podcast Orbital, host Akhil Arora discusses the impact of crypto tax and TDS on the exchanges and investors, with Rajagopal Menon, Vice President of crypto exchange WazirX, and Gaurav Mehta, founder of crypto tax consultancy Catax.
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CoinTracker Launches Services in India to Help Crypto Investors With Tax Compliance
One of the leading cryptocurrency tax compliance and portfolio tracking firms in the world, CoinTracker, has announced its India entry with an official product launch in a bid to help crypto investors track and gauge their tax liabilities at any time.
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‘Will Give Birth to Red Tapism’: Member of Parliament Opposes 1 Percent TDS on Crypto Assets
As India approaches tax enforcement on crypto starting April 1, the outcry around the levied taxes seems to have grown louder in the nation. Ritesh Pandey, a BSP party leader has voiced his concerns on having people cross three TDS payments on one NFT purchase. Pandey told the Lok Sabha that such bars could outweigh the growth potential of the youn...
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RBI's Views Might Have Delayed Crypto Bill: Deputy Governor Michael Patra
RBI Deputy Governor Michael Patra said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets.
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Budget Session 2022: Crypto Ban Proposal Not on Lok Sabha Agenda, Lecture on Cryptocurrency Slated
A fresh agenda for the Lok Sabha has skipped the mention of crypto ban suggestions. Instead, it has listed a lecture for lawmakers on the understanding of cryptocurrencies and how the sector can impact India’s overall economy. The offline lecture will be hosted inside the Parliament library in Delhi.
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Ahead of Budget Session of Parliament, a Timeline of Everything That Happened Around India’s Crypto Bill
Ahead of the upcoming Budget Session of the Parliament scheduled for February 1, a lot of conjecture around whether the crypto bill will be spoken of has been making the rounds. While we await what’s to come, here is a timeline of everything that has transpired around India’s explosive crypto bill so far.
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Cryptocurrency Bill at Union Budget 2022: Here's What to Expect
The union government is unlikely to introduce any cryptocurrency regulation or bill in the upcoming budget session of parliament that end on April 8, but taxations rules for crypto holdings could be discussed soon as continued pressure for regulation begins to mount.
-
FM Claims Access to WhatsApp Messages Led to Seizure of Crypto Worth Rs. 90 Crore
This week in Parliament, Finance Minister Nirmala Sitharaman stated that encrypted communication channels are being misused for financial crimes like money laundering and tax evasion. She revealed that authorities were able to seize over Rs. 90 crores in crypto assets from a syndicate thanks to access to WhatsApp messages.
-
Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
-
‘Huge Win for Web3’: Indian Crypto Industry Reacts as US House’ Approves FIT21 Bill
Assessing the hold that the US has over the growth of the crypto industry, commentators from the Indian Web3 community say that US’ regulatory framework for crypto could show positive results. In conversation with Gadgets360, Sharedeum co-founder and CEO Nischal Shetty noted what it means for Indian crypto enthusiasts.
-
US Lawmakers Pass FIT21 Crypto Bill That May Regulate SEC’s Involvement in Sector Oversight
The Financial Innovation and Technology for the 21st Century Act (FIT21) has been approved by the US House of Representatives. With this, the US has finally joined the list of nations alongside India, Japan, and South Korea among others -- that are working on bringing the volatile and exploitable digital assets sector under regulatory oversight.
-
US Lawmakers Introduce Bill to Prohibit Digital Dollar Testing Due to Threat to American Liberties
US Congressman Alex Mooney has proposed a law called — the Digital Dollar Pilot Prevention Act (H.R. 3712). A total of 14 House Republicans have chosen to co-sponsor this bill along Mooney, who states in the proposal that CBDCs are “being used by authoritarian countries right now to crack down on dissent”.
-
India’s Upcoming Digital Personal Data Protection Bill: Ten Things to Know About the Proposed Legislation
India’s much awaited Digital Personal Data Protection Bill (PDPB) has bagged a thumbs up from the Parliamentary Standing Committee on Communications and Information Technology this month. A senior government official has said that the upcoming data protection bill will change the way that people’s personal data is being harvested by companies.
-
Turbulent Year for Cryptocurrencies Could Spur Progress Towards Regulatory Norms for Digital Assets in 2023
Cryptocurrency could see more regulatory norms in 2023, after a year of turbulence that saw the collapse of massive trading platform FTX. The Reserve Bank of India has been forthright about its views on cryptocurrency and its Governor Shaktikanta Das said last month that cryptocurrencies should be "prohibited" and that if they are allowed to grow "...
-
How the 1 Percent TDS Provision Will Affect the Growth of the Crypto Industry
The recently introduced 1 percent TDS on virtual digital asset (VDA) transactions, as part of the Finance Bill 2022, has been described as highly detrimental to the industry. The tax provision is expected to discourage entrepreneurs and investors from developing the burgeoning industry while the government could lose out on an opportunity to earn t...
-
Will India’s Crypto Tax Put a Dent in Innovation and Growth of the Emerging Sector?
On this week's episode of Gadgets 360 podcast Orbital, host Akhil Arora discusses the impact of crypto tax and TDS on the exchanges and investors, with Rajagopal Menon, Vice President of crypto exchange WazirX, and Gaurav Mehta, founder of crypto tax consultancy Catax.
-
CoinTracker Launches Services in India to Help Crypto Investors With Tax Compliance
One of the leading cryptocurrency tax compliance and portfolio tracking firms in the world, CoinTracker, has announced its India entry with an official product launch in a bid to help crypto investors track and gauge their tax liabilities at any time.
-
‘Will Give Birth to Red Tapism’: Member of Parliament Opposes 1 Percent TDS on Crypto Assets
As India approaches tax enforcement on crypto starting April 1, the outcry around the levied taxes seems to have grown louder in the nation. Ritesh Pandey, a BSP party leader has voiced his concerns on having people cross three TDS payments on one NFT purchase. Pandey told the Lok Sabha that such bars could outweigh the growth potential of the youn...
-
RBI's Views Might Have Delayed Crypto Bill: Deputy Governor Michael Patra
RBI Deputy Governor Michael Patra said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets.
-
Budget Session 2022: Crypto Ban Proposal Not on Lok Sabha Agenda, Lecture on Cryptocurrency Slated
A fresh agenda for the Lok Sabha has skipped the mention of crypto ban suggestions. Instead, it has listed a lecture for lawmakers on the understanding of cryptocurrencies and how the sector can impact India’s overall economy. The offline lecture will be hosted inside the Parliament library in Delhi.
-
Ahead of Budget Session of Parliament, a Timeline of Everything That Happened Around India’s Crypto Bill
Ahead of the upcoming Budget Session of the Parliament scheduled for February 1, a lot of conjecture around whether the crypto bill will be spoken of has been making the rounds. While we await what’s to come, here is a timeline of everything that has transpired around India’s explosive crypto bill so far.
-
Cryptocurrency Bill at Union Budget 2022: Here's What to Expect
The union government is unlikely to introduce any cryptocurrency regulation or bill in the upcoming budget session of parliament that end on April 8, but taxations rules for crypto holdings could be discussed soon as continued pressure for regulation begins to mount.
