Amid Confusion About Rules, Indian Crypto Community Pushes for Regulatory San...
India's crypto businesses are proposing a regulatory sandbox to allow startups to grow while the nation builds rules around the nascent space.
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An industry group of Indian bitcoin and blockchain-startups have sought an audience with the government as the latter looks to plausibly outline a regulatory framework for the innovation. The Indian government established a cryptocurrency ‘committee’ last week, one comprising of a number of officials from Indian ministries alongside representatives from the country’s central bank to research the framework surrounding digital currencies. The committee was notably co-established by the Ministry of Finance, India’s tax authority. Pertinently, the committee is tasked toward looking into....
Dubai will soon be pursuing a new license program directed towards the crypto space service providers, local regulators by introducing marketing and advertising rules for the industry. Dubai’s virtual asset regulatory authority (VARA), a cryptocurrency regulatory had proposed for new guidelines on marketing, advertising and promotions of cryptocurrencies. VARA has mentioned about all forms of […]
An Indian industry association has written to the country’s finance minister seeking clarity on cryptocurrency taxation in Union Budget 2022-23. “The budget should ideally offer coherent rules on direct taxation and the GST Council should detail the applicability of taxation, else there will be confusion.”
Industry Wants Clarity in Crypto Tax Laws in Union Budget 2022-23
Indian industry association Indiatech has written to the country’s finance minister, Nirmala Sitharaman, regarding cryptocurrency taxation. The association represents major....
The number of Indian users on cryptocurrency exchange Binance has soared after the Indian government began levying taxes on crypto transactions. Meanwhile, daily trading volumes at some major India-based cryptocurrency exchanges are down over 90% since the new tax rules took effect.
Binance Sees Record Number of Indian Users
The number of Indian user sign-ups soared on global crypto exchange Binance after a 1% tax deducted at source (TDS) went into effect in July, Bloomberg reported Tuesday.
The number of Binance app downloads in India jumped to 429,000 in August, the....
Coinsecure, one of the Indian Bitcoin companies now allows the international community to trade on Indian cryptocurrency market. India has recently been in the news for all the wrong reasons. The government’s move to demonetize bank notes of larger denominations viz., INR 1000 and INR 500 has created a cash crunch in the economy, renewing interest among the countrymen in Bitcoin. Since the news of demonetization was announced, the Indian “Big Four” Bitcoin companies — BTCX India, Coinsecure, Unocoin and ZebPay have been fielding hundreds of inquiries about the digital currency. The Indian....