India’s ‘Unregulated’ Bitcoin Industry is Thriving
The popularity of Bitcoin in India has seen an exponential rise, according to the Hindustantimes. The report details that more users in the region are using the cryptocurrency to pay mobile bills and vouchers for online shopping. With Businesses like Unocoin, Zebpay, and Coinsecure at the helm, the country will continue to get an influx of Bitcoin....
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India’s crypto tax policy is set to become law on March 24. However, stakeholders believe it could eradicate small-time traders and derail the thriving industry. Indian crypto tax policy has become the hottest topic for Indian crypto traders and exchange operators as it is set to become law on March 24 and will come into effect starting on April 1. The proposed 30% crypto tax is the highest in the country and is equivalent to the tax imposed on gambling and lottery tickets. While the high tax bracket was already a cause of concern for many new and small traders, a recent clarification from....
Following last week’s public notice by the Reserve Bank of India (RBI), the country’s central bank, that warned Indians about using virtual currencies like Bitcoin, the still-nascent but growing industry has banded together to form the “Blockchain and Virtual Currency Association of India.” India’s leading bitcoin companies that include the likes of Unocoin, Coinsecure, Zebpay and SearchTrade have come together to form a new industry association that is currently under the process of a formal registration. According to a report in India’s biggest business daily, the Economic Times, the....
The overturning of India’s cryptocurrency ban has made the market a focal point for Bitcoin projects, with outside capital looking to take advantage. The post The Rush To Own India’s Bitcoin Market Is Back On appeared first on Bitcoin Magazine.
The Gambling Industry is one of the industries that have grown a lot since Bitcoin first appeared. Since Bitcoin was the perfect currency to be used in the internet, online Casinos have been thriving since 2012. The Gambling Industry is one of the industries that has grown a lot since Bitcoin first appeared. Since Bitcoin was the perfect currency to be used in the internet, online Casinos have been thriving since 2012. Since Bitcoin first appeared, many businesses such as Ponzi and pyramid schemes have embraced it in such manner that it has given a bad name to the currency. In fact, many....
The Indian crypto industry sees a brief panic over the government’s plans to ban “private cryptocurrencies” and explore the need for a CBDC. The Indian Crypto community has been involved in discussions with the government about how it should perceive cryptocurrencies and blockchain technology before finding ways to regulate the industry ever since the government placed a now-defunct blanket ban on banks servicing crypto firms in April 2018. In the latest update, on Jan. 29, the government revealed its plans to introduce The Cryptocurrency and Regulation of Official Digital Currency Bill,....