Cryptocurrency Regulation In India
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Bybit Gains UAE’s Virtual Asset Licence; Becomes First Crypto Firm to Get Full SCA Approval
ByBit has become the first cryptocurrency exchange to secure a full Virtual Asset Platform Operator Licence from the UAE’s Securities and Commodities Authority. The approval follows its in-principle nod in February and allows ByBit to provide regulated trading, custody, and fiat conversion services across the UAE. The milestone comes months after...
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RBI to Introduce Pilot for Deposit Tokenisation Using CBDC Layer: Report
The Reserve Bank of India is set to begin a pilot for deposit tokenisation, leveraging the wholesale CBDC as its base. The initiative will test blockchain-based deposits for improved speed, security, and transparency in regulated financial markets. Officials also plan to explore tokenising money market instruments, including commercial papers, as p...
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Government Makes Cybersecurity Audits Mandatory for Crypto Exchanges Due to Rising Risks
India has made cybersecurity audits mandatory for cryptocurrency exchanges, custodians, and intermediaries following a surge in cyber heists. The Financial Intelligence Unit-India (FIU-IND) has directed firms to hire CERT-In-approved auditors as part of compliance under the PMLA. Industry leaders welcomed the move as a step toward stronger safeguar...
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Bybit Resumes Full Operations in India After Regulatory Approval
Bybit has reopened its app for Indian users after completing registration with the Financial Intelligence Unit-India (FIU-IND). Website access will be restored in phases over the next few days. The exchange had paused operations in January 2025 due to regulatory changes, but now resumes trading under India’s Prevention of Money Laundering Act (PM...
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Should India Follow the US and Establish a Bitcoin Reserve? Polygon, Avail Co-Founders Talk to Gadgets 360
In an interview with Gadgets 360, Polygon and Avail co-founders Sandeep Nailwal and Anurag Arjun share their thoughts on whether India should establish a Bitcoin reserve like the US. Nimen Shah, a senior chartered accountant and international tax advisor from Mumbai, contributed to the discussion by emphasising India’s turbulent history with cryp...
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RBI Shares Observations Around Tokenisation, Crypto in Financial Stability Report 2024
As per the RBI, asset tokenisation is a rapidly evolving financial innovation still in its early stages, currently presenting minimal concerns. However, the central bank also cautioned that the widespread adoption of crypto assets could potentially impact macroeconomic and financial stability.
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Government Has No Specific Timeline to Finalise Virtual Digital Assets Regulation: MoS Finance
While answering a question on crypto regulation in the Lok Sabha on Monday, Minister of State for Finance Pankaj Chaudhary said that virtual digital assets (like cryptocurrency) are borderless.
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Markets with Evolving Web3 Regulations Offer Exciting Opportunities: Ryan Sungho Kim at IBW 2024
On the sidelines of India Blockchain Week (IBW 2024), Ryan Sungho Kim shared insights with Gadgets 360 on how investment firms are navigating the evolving Web3 regulatory landscape. He emphasised that industry insiders still have significant opportunities to engage with authorities and contribute to shaping Web3 regulations in regions where policie...
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BRICS' Move to Introduce Digital Assets Platform for De-Dollarisation Sparks Criticism from Trump
Over the weekend, Trump warned BRICS nations, including India, to prepare for a 100 percent increase in tariff rates if they persist in efforts to diminish the US dollar's role in the global economy.
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Taiwan Aligns with India, Japan on AML Regulations for Crypto Businesses, Accelerates Registration Deadline
This week, Taiwan's Financial Supervisory Commission (FSC) announced that all cryptocurrency firms, whether already operating in the country or planning to establish operations, must register for anti-money laundering (AML) compliance. The FSC has advanced the registration deadline from January 1, 2025, to November 30, 2024, urging firms to expedit...
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UK to Finalise Crypto Legislation by 2026, FCA Outlines Regulations Roadmap
The UK's Financial Conduct Authority (FCA) has set a deadline of 2026 to finalise its crypto legislation. So far this year, the FCA has participated in several roundtable discussions to gather insights from investors and regulators on the necessary regulatory framework for crypto.
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India, Qatar's Financial Intelligence Units Partner to Combat Money Laundering through Virtual Digital Assets
This week, the Financial Intelligence Units of India and the UAE met in New Delhi to finalise an agreement. The two nations committed to collaborating in efforts to prevent the misuse of crypto assets by unlawful entities for illicit financial transfers.
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What is the ‘REDI’ Framework for CBDC Adoption Suggested by IMF
The IMF's REDI framework—comprising regulation, education, design and deployment, and incentives—highlights the importance of fostering awareness and understanding of Central Bank Digital Currencies (CBDCs). In alignment with insights from global financial experts, an IMF report emphasizes that enhancing knowledge about CBDCs is essential for p...
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Japan’s Financial Regulator May Cut Crypto Tax, Encourage Investors to Engage with VDAs
In Japan, crypto-generated earnings are currently taxed between 15 and 55 percent. However, authorities are considering reducing this tax rate to a flat 30 percent for corporate investors and 20 percent for individual investors in FY 2025.
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Nigeria’s Crypto Investors Urge Government to Follow India's Approach in Tackling Binance Dispute: Report
Crypto investors in Nigeria have asked the government to follow India’s approach and regulate crypto businesses rather than taking extreme measures. While Nigerian authorities are embroiled in a court battle with the exchange after imprisoning two of its executives, India dealt with a similar situation with a measured approach, crypto traders fro...
-
Bybit Gains UAE’s Virtual Asset Licence; Becomes First Crypto Firm to Get Full SCA Approval
ByBit has become the first cryptocurrency exchange to secure a full Virtual Asset Platform Operator Licence from the UAE’s Securities and Commodities Authority. The approval follows its in-principle nod in February and allows ByBit to provide regulated trading, custody, and fiat conversion services across the UAE. The milestone comes months after...
-
RBI to Introduce Pilot for Deposit Tokenisation Using CBDC Layer: Report
The Reserve Bank of India is set to begin a pilot for deposit tokenisation, leveraging the wholesale CBDC as its base. The initiative will test blockchain-based deposits for improved speed, security, and transparency in regulated financial markets. Officials also plan to explore tokenising money market instruments, including commercial papers, as p...
-
Government Makes Cybersecurity Audits Mandatory for Crypto Exchanges Due to Rising Risks
India has made cybersecurity audits mandatory for cryptocurrency exchanges, custodians, and intermediaries following a surge in cyber heists. The Financial Intelligence Unit-India (FIU-IND) has directed firms to hire CERT-In-approved auditors as part of compliance under the PMLA. Industry leaders welcomed the move as a step toward stronger safeguar...
-
Bybit Resumes Full Operations in India After Regulatory Approval
Bybit has reopened its app for Indian users after completing registration with the Financial Intelligence Unit-India (FIU-IND). Website access will be restored in phases over the next few days. The exchange had paused operations in January 2025 due to regulatory changes, but now resumes trading under India’s Prevention of Money Laundering Act (PM...
-
Should India Follow the US and Establish a Bitcoin Reserve? Polygon, Avail Co-Founders Talk to Gadgets 360
In an interview with Gadgets 360, Polygon and Avail co-founders Sandeep Nailwal and Anurag Arjun share their thoughts on whether India should establish a Bitcoin reserve like the US. Nimen Shah, a senior chartered accountant and international tax advisor from Mumbai, contributed to the discussion by emphasising India’s turbulent history with cryp...
-
RBI Shares Observations Around Tokenisation, Crypto in Financial Stability Report 2024
As per the RBI, asset tokenisation is a rapidly evolving financial innovation still in its early stages, currently presenting minimal concerns. However, the central bank also cautioned that the widespread adoption of crypto assets could potentially impact macroeconomic and financial stability.
-
Government Has No Specific Timeline to Finalise Virtual Digital Assets Regulation: MoS Finance
While answering a question on crypto regulation in the Lok Sabha on Monday, Minister of State for Finance Pankaj Chaudhary said that virtual digital assets (like cryptocurrency) are borderless.
-
Markets with Evolving Web3 Regulations Offer Exciting Opportunities: Ryan Sungho Kim at IBW 2024
On the sidelines of India Blockchain Week (IBW 2024), Ryan Sungho Kim shared insights with Gadgets 360 on how investment firms are navigating the evolving Web3 regulatory landscape. He emphasised that industry insiders still have significant opportunities to engage with authorities and contribute to shaping Web3 regulations in regions where policie...
-
BRICS' Move to Introduce Digital Assets Platform for De-Dollarisation Sparks Criticism from Trump
Over the weekend, Trump warned BRICS nations, including India, to prepare for a 100 percent increase in tariff rates if they persist in efforts to diminish the US dollar's role in the global economy.
-
Taiwan Aligns with India, Japan on AML Regulations for Crypto Businesses, Accelerates Registration Deadline
This week, Taiwan's Financial Supervisory Commission (FSC) announced that all cryptocurrency firms, whether already operating in the country or planning to establish operations, must register for anti-money laundering (AML) compliance. The FSC has advanced the registration deadline from January 1, 2025, to November 30, 2024, urging firms to expedit...
-
UK to Finalise Crypto Legislation by 2026, FCA Outlines Regulations Roadmap
The UK's Financial Conduct Authority (FCA) has set a deadline of 2026 to finalise its crypto legislation. So far this year, the FCA has participated in several roundtable discussions to gather insights from investors and regulators on the necessary regulatory framework for crypto.
-
India, Qatar's Financial Intelligence Units Partner to Combat Money Laundering through Virtual Digital Assets
This week, the Financial Intelligence Units of India and the UAE met in New Delhi to finalise an agreement. The two nations committed to collaborating in efforts to prevent the misuse of crypto assets by unlawful entities for illicit financial transfers.
-
What is the ‘REDI’ Framework for CBDC Adoption Suggested by IMF
The IMF's REDI framework—comprising regulation, education, design and deployment, and incentives—highlights the importance of fostering awareness and understanding of Central Bank Digital Currencies (CBDCs). In alignment with insights from global financial experts, an IMF report emphasizes that enhancing knowledge about CBDCs is essential for p...
-
Japan’s Financial Regulator May Cut Crypto Tax, Encourage Investors to Engage with VDAs
In Japan, crypto-generated earnings are currently taxed between 15 and 55 percent. However, authorities are considering reducing this tax rate to a flat 30 percent for corporate investors and 20 percent for individual investors in FY 2025.
-
Nigeria’s Crypto Investors Urge Government to Follow India's Approach in Tackling Binance Dispute: Report
Crypto investors in Nigeria have asked the government to follow India’s approach and regulate crypto businesses rather than taking extreme measures. While Nigerian authorities are embroiled in a court battle with the exchange after imprisoning two of its executives, India dealt with a similar situation with a measured approach, crypto traders fro...
