India Cryptocurrency

WazirX released its sixth transparency report on Tuesday, April 23. Among a bunch of details, WazirX claimed that it received a total of 1,700 requests from the law enforcement agencies between October 2023 and March 2024.

This week, the Securities and Exchange Commission of Thailand released a public order that said that it was coordinating with the Thai government to block unauthorised providers of digital assets services.

The Bharat Web3 Association (BWA) has laid down some rules for service providers in the crypto sector to adhere to. The self-regulatory guidelines are based on the PEC framework, that focusses on investor protection, market efficiency as well as credibility and safeguards.

Here is an excerpt from Mitali Mukherjee's book 'Crypto Crimes: Inside India's Best-Kept Secret', which delves into the murky underbelly of the crypto world and its spread across India.

Bitcoin is gearing to undergo a halving event in the next few days. This process slashes the BTC rewards that miners earn to validate transactions on the blockchain by half – reducing their incentive to mine newer blocks rapidly. This slows down the addition of new tokens in circulation.

Binance is looking to re-enter the Indian market, but this time as an entity registered by the Financial Intelligence Unit (FIU). The exchange is also reportedly gearing up to pay $2 million (roughly Rs. 16.7 crore) to the Indian government in penalties.

Avinash Shekhar, the CEO of Taxnodes has pointed out that crypto tax compliance in India has continued to be ‘very low’ since these taxes were levied back in 2022. He has reminded the community that discipline and compliance is the way to gain the government’s trust on India’s crypto circle.

India’s Bharat Web3 Association (BWA) has struck a partnership deal with the Japan ANICANA Dealers Association (JADA) will now work together to foray deeper into Web3-related research and development.

Arming up to tackle this expected rise in crypto tax evasion cases, the IRS in the US is already forging partnerships with several law enforcement divisions to improve the criminal identification process.

Hong Kong has approved the trading of spot BTC and ETH ETFs on Monday, April 15. The final approval was signed by the Hong Kong Securities and Futures Commission (SFC). Spot ETFs track the current price of commodities and allow traders to get exposure to the current price of BTC without having to purchase and hold the asset.

In India, the web3 sector showed expansion in 2023. A report published by Hashed Emergent claimed that projects around Web3-compatible finance, entertainment, and infrastructure services are garnering the attention of venture capitalists towards India.

KuCoin has become the latest international crypto exchange to have completed compliance with India’s FIU. The tax deduction process on KuCoin for Indian investors and traders will begin on April 10 and the authorities will deposit the amount to India’s financial authorities.

The RBI has decided to expand ways to distribute the CBDC within the retail ecosystem. Until now, India's CBDC distribution was being tested by banks that are part of its trials but soon third-party payment operators like Google Pay and PhonePe will also be able to distribute the CBDC.

CoinDCX has announced a partnership with US-based fintech firm Mesh. With this, the exchange could be attempting to have app visitors spend more time on the platform.

WazirX has revealed that memecoin Shiba Inu emerged as the most-traded crypto on its platform in March this year. The development indicates that most of the investors engaging with crypto through its app chose to purchase SHIB over its competitor Dogecoin.

WazirX released its sixth transparency report on Tuesday, April 23. Among a bunch of details, WazirX claimed that it received a total of 1,700 requests from the law enforcement agencies between October 2023 and March 2024.

This week, the Securities and Exchange Commission of Thailand released a public order that said that it was coordinating with the Thai government to block unauthorised providers of digital assets services.

The Bharat Web3 Association (BWA) has laid down some rules for service providers in the crypto sector to adhere to. The self-regulatory guidelines are based on the PEC framework, that focusses on investor protection, market efficiency as well as credibility and safeguards.

Here is an excerpt from Mitali Mukherjee's book 'Crypto Crimes: Inside India's Best-Kept Secret', which delves into the murky underbelly of the crypto world and its spread across India.

Bitcoin is gearing to undergo a halving event in the next few days. This process slashes the BTC rewards that miners earn to validate transactions on the blockchain by half – reducing their incentive to mine newer blocks rapidly. This slows down the addition of new tokens in circulation.

Binance is looking to re-enter the Indian market, but this time as an entity registered by the Financial Intelligence Unit (FIU). The exchange is also reportedly gearing up to pay $2 million (roughly Rs. 16.7 crore) to the Indian government in penalties.

Avinash Shekhar, the CEO of Taxnodes has pointed out that crypto tax compliance in India has continued to be ‘very low’ since these taxes were levied back in 2022. He has reminded the community that discipline and compliance is the way to gain the government’s trust on India’s crypto circle.

India’s Bharat Web3 Association (BWA) has struck a partnership deal with the Japan ANICANA Dealers Association (JADA) will now work together to foray deeper into Web3-related research and development.

Arming up to tackle this expected rise in crypto tax evasion cases, the IRS in the US is already forging partnerships with several law enforcement divisions to improve the criminal identification process.

Hong Kong has approved the trading of spot BTC and ETH ETFs on Monday, April 15. The final approval was signed by the Hong Kong Securities and Futures Commission (SFC). Spot ETFs track the current price of commodities and allow traders to get exposure to the current price of BTC without having to purchase and hold the asset.

In India, the web3 sector showed expansion in 2023. A report published by Hashed Emergent claimed that projects around Web3-compatible finance, entertainment, and infrastructure services are garnering the attention of venture capitalists towards India.

KuCoin has become the latest international crypto exchange to have completed compliance with India’s FIU. The tax deduction process on KuCoin for Indian investors and traders will begin on April 10 and the authorities will deposit the amount to India’s financial authorities.

The RBI has decided to expand ways to distribute the CBDC within the retail ecosystem. Until now, India's CBDC distribution was being tested by banks that are part of its trials but soon third-party payment operators like Google Pay and PhonePe will also be able to distribute the CBDC.

CoinDCX has announced a partnership with US-based fintech firm Mesh. With this, the exchange could be attempting to have app visitors spend more time on the platform.

WazirX has revealed that memecoin Shiba Inu emerged as the most-traded crypto on its platform in March this year. The development indicates that most of the investors engaging with crypto through its app chose to purchase SHIB over its competitor Dogecoin.