As the Income Tax Department of India reportedly considers taxing crypto traders and crypto exchanges soon, experts believe investors should rest assured. According to ET Now’s report, the tax department, which operates under India’s Ministry of Finance, has signaled interest to tax crypto earnings through trade and exchanges. However, the sources claim that the move… Continue reading India’s Income Tax Department may soon target crypto trades and ecosystem
Tag: India’s
Hopes of India’s Crypto Bill Dashed as Govt Doesn’t List for Parliament Discussion
Betraying the hopes of the crypto industry that the Indian government will introduce the cryptocurrency regulation bill in the upcoming Monsoon session that kicks off on July 19, 2021, the list of bills that may tentatively be taken up does not include cryptocurrency bills. Early this month, Indian Finance Minister Nirmala Sitharaman had said in… Continue reading Hopes of India’s Crypto Bill Dashed as Govt Doesn’t List for Parliament Discussion
India’s ICICI bank shuts out remittance users from digital currencies
One of India’s largest banks is now denying its clients the opportunity to use its remittance service to purchase digital currencies. ICICI Bank, which is India’s largest private sector bank, has tweaked its remittance form to require clients to declare that they would not invest in digital currencies or even use proceeds of digital currency… Continue reading India’s ICICI bank shuts out remittance users from digital currencies
India’s Central Bank Orders Uninhibited Crypto Trading
India’s Central Bank (RBI) has ordered commercial banks to not in any way hamper crypto trading in a new circular. “It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.BP.BC.104/08.13.102/2017-18 dated April 06,… Continue reading India’s Central Bank Orders Uninhibited Crypto Trading
India’s COVID-19 surge slows slightly
The COVID-19 surge in India slowed a bit on Saturday with the smallest daily increase in infections in nearly three weeks. On Saturday, India reported 326,098 new confirmed cases and 3,890 deaths in the past 24 hours, although the numbers are believed to be an undercount, Reuters reported. The overall rate of positive cases had… Continue reading India’s COVID-19 surge slows slightly
India's health system collapsing as Covid-19 spreads faster than ever
India’s health system is collapsing as Covid-19 spreads faster than ever, gravediggers burn piles of victims to keep up and crematorium furnaces MELT due to round-the-clock use More than 200,000 cases per day recorded on average in the last week, 20 times as many as two months ago New Indian Covid-19 variant has two mutations… Continue reading India's health system collapsing as Covid-19 spreads faster than ever
India's government orders companies to disclose crypto holdings
While the legal status of cryptocurrencies remains undecided in India, companies in the country involved in virtual assets must now report their activities as part of their financial statements. The new rule follows amendments made by the country’s Ministry of Corporate Affairs to Schedule III of the 2013 Companies Act. According to the document published… Continue reading India's government orders companies to disclose crypto holdings
India’s Reserve Bank concerned digital currencies will impact financial stability
India’s central bank is concerned that digital currencies could impact the country’s financial stability. The governor of the Reserve Bank of India revealed recently that the bank has conveyed its concerns with the government. The renewed skepticism comes amid a rising crackdown by major banks on digital currency transactions. Governor Shaktikanta Das told CNBC TV-18… Continue reading India’s Reserve Bank concerned digital currencies will impact financial stability
India’s largest crypto exchange adopts decentralized Unstoppable Domains
India’s largest cryptocurrency exchange, Unocoin, has adopted the blockchain-based Unstoppable Domains, which simplifies crypto transactions by turning blockchain addresses into human-readable web URLs. Announced on Wednesday, the partnership between Unocoin and Unstoppable Domains — both funded by Silicon Valley investor Tim Draper — is expected to reduce remittance costs and simplify the transaction process for… Continue reading India’s largest crypto exchange adopts decentralized Unstoppable Domains
India’s Largest Bank Partners with JPMorgan for Blockchain Payment Solution
The State Bank of India (SBI), a major Indian bank, has collaborated with Wall Street giant JPMorgan to utilize the latter’s blockchain solution for efficient cross-border transactions. SBI Collaborating with JPMorgan for Blockchain-based Cross-border Payments According to the Economic Times on Wednesday (Feb. 23, 2021), the SBI would integrate a blockchain solution developed by the… Continue reading India’s Largest Bank Partners with JPMorgan for Blockchain Payment Solution
India's Crypto Ban May Extend to IPO Promoters
The extent of the anti-crypto sentiment in India seems to be deepening with initial public offerings (IPO) participants like promoters, investment banks, and lawyers likely to be barred from holding or investing in cryptocurrencies. Meanwhile, the threat of a blanket virtual currency ban continues to loom over one of the largest digital currency markets in… Continue reading India's Crypto Ban May Extend to IPO Promoters
India’s crypto ban is coming, hodlers to be given transition period: Bloomberg
An anonymous source claiming to be a senior Indian Finance Ministry official has claimed that the use of crypto assets will soon be completely banned in the world’s second most populated country. Speaking to Bloomberg, the source claimed that the use of cryptocurrency in all its forms will be banned under a new law expected… Continue reading India’s crypto ban is coming, hodlers to be given transition period: Bloomberg
India's power ministry proposes pushing back emission norms deadline
However, a final decision will have to be approved by the Supreme Court, which is hearing the issue. India’s power ministry has proposed pushing back the deadlines for adoption of new emission norms by coal-fired power plants, saying "an unworkable time schedule" would burden utilities and lead to an increase in power tariffs. India initially… Continue reading India's power ministry proposes pushing back emission norms deadline
ADB narrows India’s FY21 GDP contraction projection to 8%
Asian lending agency cites faster-than-expected recovery, sees inflation at 5.8% The Asian Development Bank (ADB) on Thursday upgraded its forecast for the Indian economy, projecting 8% contraction in 2020-21 as compared to 9% estimated earlier, on the back of a faster-than-expected recovery. Observing that the economy had begun to normalise, the Asian Development Outlook (ADO)… Continue reading ADB narrows India’s FY21 GDP contraction projection to 8%
Jimmy Nguyen speaks at India’s first Bitcoin SV meetup
“Bitcoin SV is the only project that adheres to Satoshi Nakamoto’s original protocol, design and massive scaling vision for Bitcoin,” Jimmy Nguyen told the audience at the recent Bitcoin SV virtual meetup in India. The Bitcoin Association founding president talked about the history of BSV, what sets it apart, and how its massive scaling is… Continue reading Jimmy Nguyen speaks at India’s first Bitcoin SV meetup
India's 'precarious' coronavirus crisis: Five things to know
South Asian nation is reporting world’s highest daily infections, amid increased testing and easing of restrictions. India is struggling to contain the spread of the novel coronavirus, with its total number of cases having now surged past the three million mark. It is the third-worst affected country hit by the virus after the United States… Continue reading India's 'precarious' coronavirus crisis: Five things to know
The tyranny of India’s residents’ associations
Major Atul Dev, a retired Indian army veteran, is on the warpath – against his Residents’ Welfare Association. Commonly known as the RWAs, these associations are a unique feature of Indian urban living. They are responsible for managing the day-to-day affairs of specific residential areas and generally set guidelines – relating to issues like security… Continue reading The tyranny of India’s residents’ associations
India’s Election Commission Set to Deploy Blockchain Solution for Increased Voter Turnout | BTCMANAGER
The Election Commission of India (ECI) and the Indian Institute of Technology, Chennai (IIT-C) are working to create a blockchain system for implementing electoral reforms. The move forms part of the growing trend of government-backed distributed technology (DLT) use cases in the country. EC and IIT-Chennai Partner on Blockchain Voting System According to Inc42, the… Continue reading India’s Election Commission Set to Deploy Blockchain Solution for Increased Voter Turnout | BTCMANAGER
India's doomed moon mission 'was hacked by North Korea'
India’s doomed moon mission was hacked by North Korea, cyber experts believe North Korean hackers targeted India’s Space Research Organisation, it is feared Employees are feared to have opened phishing emails and installed malware It comes days after India’s largest nuclear power plant admitted it was hacked India’s space agency was attacked by North Korean… Continue reading India's doomed moon mission 'was hacked by North Korea'
India’s State Bank in Favour of the Country’s Harsh Crypto Regulation
One of the biggest banks in the world has just come out to say they don’t really mind about the big cryptocurrency regulations in the nation. Specifically, that nation is India as the chairman of the country’s State Bank, Rajnish Kumar claims that regulation is a necessity for cryptocurrencies so that unlawful use can be… Continue reading India’s State Bank in Favour of the Country’s Harsh Crypto Regulation
Where are India’s millions of missing girls?
India’s 2011 census shows a serious decline in the number of girls under the age of seven – activists fear eight million female foetuses may have been aborted in the past decade. The BBC’s Geeta Pandey in Delhi explores what has led to this crisis. Kulwant has three daughters aged 24, 23 and 20 and… Continue reading Where are India’s millions of missing girls?
Tim Draper Digs into India’s Government over Blanket Ban
The venture capitalist investor and popular crypto figure, Tim Draper has had some rough words to say on India in regards to their stance on cryptocurrencies. With rumours surfacing that the country might be implementing a nationwide blanket ban on Bitcoin, earlier this week, Draper took to Twitter to voice his opinion on the matter,… Continue reading Tim Draper Digs into India’s Government over Blanket Ban
Alleged Draft Of India’s Bitcoin Ban Leaked Online
The rumours of India proposing to ban cryptocurrency have been floating around the space for a while now and they may have just been confirmed after the Indian blockchain lawyer Varun Sethi posted an alleged first draft of the proposed bill. The bill, called “Banning of Cryptocurrency and Regulation of Official Digital Currencies” proposes to… Continue reading Alleged Draft Of India’s Bitcoin Ban Leaked Online
India’s Federal Bank Adopts RippleNet for Cross-border Payments
The federal bank in India is finally embracing blockchain technology. The latest news is that the bank has entered a partnership with Ripple and its payment network RippleNet for cross-border payments to India and to enable Indians in diaspora transfer funds across borders. This marks the upgrading of India’s existing payment rails to blockchain-based solutions… Continue reading India’s Federal Bank Adopts RippleNet for Cross-border Payments