india crypto – DIGIT INFO

Indian billionaire Mukesh Ambani’s Jio launches mystery JioCoin on Polygon

DIGIT — Fri, 17 Jan 2025 08:50:52 +0000

Jio launches JioCoin on the Polygon network, sparking community speculation about its use cases.

Binance obtains FIU approval for India return

DIGIT — Fri, 10 May 2024 13:41:07 +0000

Besides Binance and KuCoin, several other platforms received the regulatory notice in December last year followed by a ban in January this year.

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Indian Finance Minister Says Crypto Assets Cannot Be Currencies — Expects ‘Some Framework Emerging’ From G20 Discussion

DIGIT — Sun, 17 Mar 2024 05:45:54 +0000

Indian Finance Minister Nirmala Sitharaman has stated that it is the position of the Indian government that crypto assets cannot be currencies, which are issued by central banks. She clarified that crypto assets can be used for trading, speculation, profit-making, and various other purposes. Moreover, she noted that India has raised the issue of crypto […]

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India Seeks Common Crypto Framework for All Countries to Deal With ‘Many Collapses and Shocks in Cryptocurrencies’

DIGIT — Wed, 12 Apr 2023 05:15:04 +0000

India’s finance minister, Nirmala Sitharaman, said during her official visit to the U.S. that crypto regulation is a very important part of the discussion by the G20 countries given “so many collapses and shocks in cryptocurrencies.” She stressed: “We seek to develop a common framework for all countries to deal with this matter.” India Seeks […]

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Indian Government Answers Questions About Crypto Legalization, Fraud Prevention

DIGIT — Thu, 06 Apr 2023 03:30:17 +0000

The Indian government has responded to parliamentary questions about the legalization of cryptocurrency and the steps it has taken to prevent crypto-related fraud. “Crypto assets are currently unregulated in India. Frauds relating to crypto are dealt with under extant laws against fraud and cybercrime,” the Minister of State for the Ministry of Finance told parliament. […]

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India Brings Crypto Transactions Under Prevention of Money Laundering Act

DIGIT — Sat, 11 Mar 2023 03:30:27 +0000

India’s finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA). Noting that the move “is a positive step in recognizing the sector,” a crypto insider explained that it will strengthen the industry’s efforts to prevent virtual digital assets “from being misused by bad actors.” India […]

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India Asks IMF and FSB for Joint Paper to Help Formulate ‘Comprehensive’ Crypto Policy

DIGIT — Sun, 26 Feb 2023 03:00:32 +0000

India has asked the International Monetary Fund (IMF) and Financial Stability Board (FSB) to develop “a synthesis paper” on crypto assets as part of the G20 meeting of finance ministers and central bank governors under India’s presidency. “This would help in the formulation of a coordinated and comprehensive policy approach to crypto assets,” said India’s […]

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Indian Finance Minister Pushes for International Cooperation on Crypto Regulation — Discusses Awareness Campaign

DIGIT — Thu, 23 Feb 2023 03:30:10 +0000

Indian Finance Minister Nirmala Sitharaman has stressed the importance of international cooperation in order to regulate the crypto sector. She also confirmed that Indian regulators’ crypto awareness campaign will continue to alert people about the risks of investing in crypto. Indian Finance Minister on Crypto Regulation, Bill, and Awareness Campaign India’s finance minister, Nirmala Sitharaman, […]

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Indian Government Introduces New Crypto Tax Penalties

DIGIT — Thu, 02 Feb 2023 06:10:48 +0000

The Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax […]

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India Highlights Need for ‘Common Approach to Regulating Crypto Ecosystem’

DIGIT — Wed, 01 Feb 2023 10:20:07 +0000

India’s Finance Ministry has highlighted the necessity for “a common approach to regulating the crypto ecosystem” in its flagship Economic Survey this year. “Crypto assets are self-referential instruments and do not strictly pass the test of being a financial asset because it has no intrinsic cashflows attached to them,” the Indian government stated. Finance Ministry’s […]

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