indian cryptocurrency – DIGIT INFO

Indian finance minister ignores crypto industry’s budget tax plea

DIGIT — Tue, 23 Jul 2024 09:39:43 +0000

Local crypto businesses pushed for a reduction in the 1% TDS to 0.01% to revive its customer base.

Wazirx Offers $23M Bounty to Recover Stolen Assets After Massive Security Breach

DIGIT — Sun, 21 Jul 2024 14:40:57 +0000

Indian crypto exchange Wazirx has announced a $23 million bounty program to recover assets stolen in a cyberattack on its multisig wallet. Emphasizing community involvement, co-founder Nischal Shetty outlined the rewards for tracking, freezing, and ethically recovering the stolen funds. He insists that the attack was not due to phishing but involved multiple hardware wallets […]

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Wazirx Prepares Bounty Program to Recover $230 Million Stolen in Security Breach

DIGIT — Sat, 20 Jul 2024 16:46:09 +0000

Wazirx co-founder Nischal Shetty has updated the public on the $230 million security breach affecting the Indian crypto exchange. The Wazirx team is preparing a bounty program, engaging with expert teams to trace the stolen funds, and collaborating with other exchanges. “This is an unprecedented attack on one of the largest crypto exchanges in India. […]

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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 to Finalize Stance on Legality of Cryptocurrency by Q1 2023: Report

DIGIT — Wed, 21 Sep 2022 03:30:47 +0000

The Indian government is reportedly planning to finalize its stance on the legality of cryptocurrency by the first quarter of next year in order to become Financial Action Task Force (FATF) compliant. “We will finalize our responses by February-March 2023. We have to respond to the FATF by May,” a government official said. India Finalizing […]

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Deloitte: 82% of Indians Surveyed Plan to Invest in Crypto Once Government Provides Regulatory Clarity

DIGIT — Tue, 01 Feb 2022 03:30:42 +0000

A recent survey by Deloitte shows that 82% of Indians plan to invest in cryptocurrency when the government provides more clarity surrounding the regulation of crypto assets. Moreover, 77.4% of respondents want cryptocurrency to be treated as securities. Indian Crypto Survey: 82% Plan to Invest in Crypto Once It Is Regulated Professional services firm Deloitte […]

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Indian Government Needs More Time to Finalize Crypto Bill: Report

DIGIT — Fri, 21 Jan 2022 03:00:51 +0000

Indian government officials reportedly said that India’s cryptocurrency bill will require more time because crypto is a complex subject. The bill is therefore unlikely to be introduced in the upcoming session of parliament. The government reportedly wants to hold more discussions to build a consensus on a regulatory framework for crypto. Crypto Bill Unlikely to […]

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India’s Prime Minister Modi Calls for Global Collaboration on Crypto — Says ‘We Have to Have a Similar Mindset’

DIGIT — Tue, 18 Jan 2022 02:30:37 +0000

India’s prime minister, Narendra Modi, has called on governments worldwide to collaborate on cryptocurrency. He pointed out that “The kind of technology that is associated with it, the decisions taken by a single country will be insufficient to deal with its challenges.” Indian Prime Minister Urges ‘Every Country, Every Global Agency’ to Collaborate on Cryptocurrency […]

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India to Impose Ban on Crypto Payments, Deadline for Declaring Crypto Assets, KYC Rules: Report

DIGIT — Wed, 08 Dec 2021 15:00:04 +0000

The Indian government has reportedly proposed banning the use of cryptocurrency for payments and setting a deadline for investors to declare their crypto holdings. Violators may be arrested without a warrant and held without bail. In addition, the crypto bill may call for a uniform know-your-customer (KYC) process for all crypto exchanges. Proposed Rules in […]

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