Blockchain & crypto news from India
The latest report from blockchain analysis firm Chainalysis has shed light on the fact that the crypto industry is still grappling with the issue of cybercrimes. According to the report, darknet markets are one of the two categories that have seen an uptick in revenue in 2023. This means that despite the best efforts of…
The cryptocurrency market is shambling due to legal notices sent to some leading crypto exchange platforms by FIU (Financial Intelligence Unit India). According to CoinDCX, within a week of the notice being issued, they have observed an increase of 2,000% in cryptocurrency deposits. On the other hand, Mudrex has recorded deposits worth over $1 million…
Away from the hype and excitement around blockchain and new forms of money, a Foreign Policy article offers a sobering view of the new business world that has sprung around the hype around cryptocurrencies, tokens, DeFi, NFTs and digital assets. It turns out it is the same old finance and market practices that have found…
According to a statement given by Minister of State for Finance Pankaj Chaudhary in Indian parliament, 12 crypto exchanges in India were involved in GST evasion amounting to Rs 87.60 crore. He reported a recovery of Rs 110.97 with interest and penalties. Another piece of information was about attachments and seizures from crypto crime proceeds…
Speaking at a virtual conference of the IMF, RBI Governor T Rabi Shankar has urged the importance of obtaining adequate information on crypto assets and transactions before formulating any regulatory framework. He said that the current information on crypto assets and their movements is not either complete or even misleading. Regulations need to be built…
With rise in crime that involves cryptocurrencies, the US and the UK have come out with new rules related to taxation and investigations. In the US, the IRS is now granted the power to seek customer records related to any unpaid crypto taxes, while in the UK, a new bill will allow investigating agencies to…