#India News

Indian companies will now have to disclose their crypto holdings in financial statements

– India: All Public, Private Companies Now Required to Disclose Crypto Holdings

March 25, 2021 by Aisshwarya Tiwari at Regulation

Amid ambiguous regulations, crypto adoption continues to grow in India. Indian Companies to Report Crypto Holdings According to a recent amendment to India’s Companies Act, all companies are now required to report all their crypto or digital asset transactions in all public financial reporting. The timing of this development is...

Bitcoin Trading Exploding in India Since Supreme Court's RBI Ban Reversal

India’s Finance Minister Says Government Would Allow Citizens Experiment on Crypto

March 16, 2021 by Anthonia Isichei at Regulation

While uncertainties surround India's cryptocurrency industry with rumors about an impending ban on crypto ownership, the country's Finance Minister stated that the government was not going to block all options regarding cryptocurrency. To Ban Crypto or Not? Speaking in an interview at a conclave by India Today, Nirmala Sitharaman said...

India’s Internet and Mobile Association (IAMAI) Calls for Regulation not Ban of Digital Assets

March 10, 2021 by Adeniyi Olowoporoku at Regulation

The Internet and Mobile Association of India (IAMAI) has appealed to the government not to ban cryptocurrency. This appeal comes as reports continue to gather steam that the government intends to place major restrictions on cryptocurrency in the Asian nation. Crypto Regulation Key to Creating a Digital India According to...

JPMorgan State Bank of India joins JPMorgan’s blockchain-based payment network

India’s Largest Bank Partners with JPMorgan for Blockchain Payment Solution

February 23, 2021 by Anthonia Isichei at Blockchain

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...

India’s Crypto Ban May Extend to IPO Promoters

February 22, 2021 by Anthonia Isichei at Regulation

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...

Exchanging of Favors: Bitfinex and OKEx Mutually List Native Tokens

Arcanum Capital Partners with Alpha Innovations to Launch $10 Million Startup Fund Focused on Blockchain, DeFi

February 16, 2021 by Adeniyi Olowoporoku at Blockchain

Asset management firms Alpha Innovations and Arcanum Capital have announced the launch of a $10 million capital fund. This was revealed on Monday, February 15, 2021, and will focus on seeding and incubating blockchain and DeFi startups. $10 Million Startup Fund According to a company statement on Monday, the startup...

BitFlyer Hit With "Business Improvement Order," Suspends The Creation of New Accounts

India Could Fast Track Crypto Bill with Executive Bill

February 9, 2021 by Adeniyi Olowoporoku at Regulation

The Indian government is considering fast-tracking the controversial cryptocurrency bill using an executive order called the "ordinance process." If passed through, this could spell the beginning of some of the strictest cryptocurrency laws in the world. Indian Government Desperate to Pass Crypto bill Indian TV outlet CNBC-TV18 on Friday revealed...

India: New Bill Seeks to Introduce CBDC, Ban ‘Private’ Cryptocurrencies

January 30, 2021 by Aisshwarya Tiwari at Regulation

India continues to see-saw its stance toward cryptocurrencies. India Mulling Banning ‘Private’ Cryptocurrencies, Launching CBDC According to the Lok Sabha Bulletin published on January 29, the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, aims to stop the trading of digital currencies in India. Simultaneously, the bill also seeks...

India: Central Bank Weighing the Need to Launch Digital Rupee

January 27, 2021 by Aisshwarya Tiwari at Regulation

It was only a matter of when for the Indian central bank to join the CBDC race. RBI Exploring the Need for Digital Rupee According to a booklet on payment systems published by the Reserve Bank of India (RBI) on Monday, the country’s central bank is weighing the necessity for...

VIPs in Karnataka offered vaccine for bitcoins

COVID-19: Indian Black Marketeers Offering Vaccines for Bitcoin

January 12, 2021 by Ogwu Osaemezu Emmanuel at Bitcoin

Indian black marketeers have started offering unapproved COVID-19 vaccines to desperate high-profile patients in the region in exchange for bitcoin (BTC). So far, over 151k Indians have been killed by the virus and the government is yet to officially approve any vaccine, according to reports on January 12, 2021. Bitcoin...

India: Finance Ministry Proposes Bitcoin Tax Law

December 29, 2020 by Anthonia Isichei at Regulation

Despite little progress on crypto regulations, India's government might impose a Bitcoin tax law as part of efforts to boost national income. Crypto taxation is becoming more frequent among several countries around the world as virtual currencies continue to gain broad-based popularity. Bitcoin Tax Law Coming to India According to...

South African Revenue Service (SARS) Intensify Efforts to Clampdown on Cryptocurrency Tax Evaders

India’s Taxman Put Bitcoiners on the Hot Seat as Bitcoin Price Keeps Surging

December 7, 2020 by Ogwu Osaemezu Emmanuel at Regulation

The Central Board of Direct Taxes (CBDT), the authority in charge of taxation in India, is now gathering information about bitcoin (BTC) trades executed via banks in the state and it’s also monitoring the earnings of traders on KYC-compliant exchanges. Sources close to the matter have hinted that the nation...

Most Indians Find Lack of Crypto Awareness, Knowledge Biggest Barriers to Entry, Says Survey

November 27, 2020 by Aisshwarya Tiwari at Bitcoin

Lack of knowledge and awareness continues to be an entry-barrier for Indians looking to venture into crypto. Indian Crypto Exchange Conducts Survey to Gather Insights One of the leading Indian cryptocurrency exchanges, CoinDCX recently conducted a survey trying to gauge the stance towards cryptocurrencies in the country. Unsurprisingly, the survey...

India: Telangana to Sign MoUs for Implementing Blockchain Technology in Public Sectors

India: Tamil Nadu Unveils Blockchain Infrastructure Plan

September 20, 2020 by Aisshwarya Tiwari at Blockchain

India’s Tamil Nadu state is serious about blockchain and other emerging technologies. Tamil Nadu Prepares Extensive Blockchain Infrastructure Roadmap The role of emerging technologies in shaping tomorrow’s digital economy is only getting increasingly significant with every passing day. In that regard, India’s state of Tamil Nadu has unveiled a swathe...

India Looking to Tap Blockchain Technology for Remote Voting

August 12, 2020 by Ogwu Osaemezu Emmanuel at Blockchain

India’s Election Commission (EC) is currently weighing the possibility of integrating distributed ledger technology (DLT) into the nation's electioneering process to make it possible for residents to vote remotely in a secure manner, reports TheIndianExpress on August 10, 2020. India May Adopt Blockchain for Voting In a bid to eliminate...

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