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3232India Maintains Crypto Tax Regulations in 2024/25 Budget
https://www.digit.info/india-maintains-crypto-tax-regulations-in-2024-25-budget/
Tue, 23 Jul 2024 15:16:41 +0000https://www.digit.info/india-maintains-crypto-tax-regulations-in-2024-25-budget/Read more]]>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 […]
]]>Indian Authority Fines Crypto Exchange Binance $2.25 Million for AML Violations
https://www.digit.info/indian-authority-fines-crypto-exchange-binance-2-25-million-for-aml-violations/
Thu, 20 Jun 2024 22:15:44 +0000https://www.digit.info/2024/06/20/indian-authority-fines-crypto-exchange-binance-2-25-million-for-aml-violations/Read more]]>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 […]
]]>India Approves Crypto Exchanges Binance and Kucoin as Registered Virtual Asset Service Providers
https://www.digit.info/india-approves-crypto-exchanges-binance-and-kucoin-as-registered-virtual-asset-service-providers/
Sat, 11 May 2024 03:22:13 +0000https://www.digit.info/2024/05/11/india-approves-crypto-exchanges-binance-and-kucoin-as-registered-virtual-asset-service-providers/Read more]]>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 […]
]]>India Announces ‘Successful’ Crackdown on E-Nugget Scam — Seizes $10M in Crypto From Exchanges
https://www.digit.info/india-announces-successful-crackdown-on-e-nugget-scam-seizes-10m-in-crypto-from-exchanges/
Mon, 06 May 2024 01:26:11 +0000https://www.digit.info/2024/05/06/india-announces-successful-crackdown-on-e-nugget-scam-seizes-10m-in-crypto-from-exchanges/Read more]]>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 […]
]]>India’s Digital Rupee Expands: Non-Banks to Offer Central Bank Digital Currency Wallets
https://www.digit.info/indias-digital-rupee-expands-non-banks-to-offer-central-bank-digital-currency-wallets/
Sat, 06 Apr 2024 03:31:05 +0000https://www.digit.info/2024/04/06/indias-digital-rupee-expands-non-banks-to-offer-central-bank-digital-currency-wallets/Read more]]>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 […]
]]>Crypto Exchange Okx Shuts Down Services in India Due to Regulations — Advises Users to Withdraw All Funds
https://www.digit.info/crypto-exchange-okx-shuts-down-services-in-india-due-to-regulations-advises-users-to-withdraw-all-funds/
Fri, 22 Mar 2024 05:45:53 +0000https://www.digit.info/2024/03/22/crypto-exchange-okx-shuts-down-services-in-india-due-to-regulations-advises-users-to-withdraw-all-funds/Read more]]>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 […]
]]>India Targets 700 Crypto Investors for Non-Payment of Taxes: Report
https://www.digit.info/india-targets-700-crypto-investors-for-non-payment-of-taxes-report/
Wed, 16 Mar 2022 02:00:37 +0000https://www.digit.info/2022/03/16/india-targets-700-crypto-investors-for-non-payment-of-taxes-report/Read more]]>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 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 […]
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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 […]
]]>
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 […]
]]>
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 […]
]]>
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 […]
]]>
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 […]
]]>
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 […]