India Maintains Crypto Tax Regulations in 2024/25 Budget

July 23, 2024 Bitcoin.com

bitcoin.com

Indian Finance Minister Nirmala Sitharaman’s 2024-25 Union Budget keeps the existing cryptocurrency tax regulations unchanged, disappointing local crypto advocates. They argue that reducing the 1% tax deducted at source (TDS) is essential for reviving the struggling crypto industry in India. Industry leaders emphasize the need for ongoing dialogue with regulators to foster a supportive environment […]

Wrapped Bitcoin in DeFi: Evaluating wBTC, cbBTC and tBTC

Indian Authority Fines Crypto Exchange Binance $2.25 Million for AML Violations

June 20, 2024 Bitcoin.com

Binance

India’s Financial Intelligence Unit has fined crypto exchange Binance $2.25 million (₹18.8 crore) for non-compliance with anti-money laundering (AML) regulations. Binance’s return to India is seen as challenging, especially after the government’s tax measures significantly reduced daily trades on some major local crypto exchanges. This fine follows Binance’s global scrutiny and former CEO Changpeng Zhao […]

Wrapped Bitcoin in DeFi: Evaluating wBTC, cbBTC and tBTC

India Approves Crypto Exchanges Binance and Kucoin as Registered Virtual Asset Service Providers

May 11, 2024 Bitcoin.com

Binance

Cryptocurrency exchanges Binance and Kucoin have successfully registered with India’s Financial Intelligence Unit as Virtual Asset Service Providers (VASPs), a top official has reportedly confirmed. Both crypto exchanges were previously banned in India due to violations of the country’s anti-money laundering regulations. Kucoin and Binance Registered With FIU India The Financial Intelligence Unit – India […]

Wrapped Bitcoin in DeFi: Evaluating wBTC, cbBTC and tBTC

India Announces ‘Successful’ Crackdown on E-Nugget Scam — Seizes $10M in Crypto From Exchanges

May 6, 2024 Bitcoin.com

India Announces ‘Successful’ Crackdown on E-Nugget Scam — Seizes M in Crypto From Exchanges

Aamir Khan

India’s Enforcement Directorate has declared its multi-year crackdown on the “E-Nugget” scam in Kolkata successful. The operation has resulted in cash and crypto seizures, along with the arrest of the mastermind. Investigations uncovered numerous dummy accounts and led to the freezing of digital assets at various crypto exchanges, which were then transferred to the ED’s […]

Wrapped Bitcoin in DeFi: Evaluating wBTC, cbBTC and tBTC

India’s Digital Rupee Expands: Non-Banks to Offer Central Bank Digital Currency Wallets

April 6, 2024 Bitcoin.com

bitcoin.com

India’s central bank has announced that it will enable non-bank payment system operators to offer central bank digital currency (CBDC) wallets. Noting that “necessary changes will be made to the system to facilitate this,” the Reserve Bank of India (RBI) said the initiative is expected “to enhance access and expand choices available to users.” Non-Bank […]

Wrapped Bitcoin in DeFi: Evaluating wBTC, cbBTC and tBTC

Crypto Exchange Okx Shuts Down Services in India Due to Regulations — Advises Users to Withdraw All Funds

March 22, 2024 Bitcoin.com

bitcoin.com

Cryptocurrency exchange Okx has notified its users in India that the platform is shutting down services in the country “due to local regulations.” The exchange has advised users in India to “withdraw all funds” from their accounts by the end of April. The Indian government has not regulated crypto and the country’s finance minister recently […]

Wrapped Bitcoin in DeFi: Evaluating wBTC, cbBTC and tBTC

India Targets 700 Crypto Investors for Non-Payment of Taxes: Report

March 16, 2022 Bitcoin.com

bitcoin.com

India’s income tax department has reportedly identified about 700 cryptocurrency investors who have failed to pay taxes on high-value crypto transactions. “We have a long list of people who were transacting in crypto assets but were not paying tax,” said an official with the country’s Central Board of Direct Taxation. Indian Tax Authority Going After […]

Indian crypto regulations