Blockchain & crypto news from India
India has recently declared its provisions for taxation on crypto assets. Within a month of Union Budget 2021-22, an intense comment on the digital currency has been made by the Reserve Bank of India (RBI) Deputy Governor – T Rabi Sankar. Sankar has advocated a complete ban on cryptocurrency in India, citing that it has no…
On Friday, Finance Minister Nirmala Sitharaman said that the government has sovereign right to tax profit made from crypto transactions and the decision on prohibiting or not prohibiting will be taken depending on the feedback from consultations. Responding to the general discussion on Union Budget, the finance minister said that she is not going to…
The Russian government has accepted a system for laws regulating cryptos. A said goal of the new policy is to integrate digital tokens into Russia’s financial system while guaranteeing the rights of private investors and preventing digital assets from being used to finance crime. On Tuesday, Moscow’s official press service said in a statement that…
Nirmala Sitharaman Finance Minister has said that government will bring clarity on the formalization of cryptocurrency soon. Partaking in a post-budget interaction organized on Monday by industry body PHD Chamber of Commerce and Industry, while responding to a query on the regulation of crypto, Ms. Sitharaman said that the Centre has a consultation process for…
Sundar Pichai, the CEO of Alphabet Inc. and its subsidiary Google, shared some information on the blockchain strategy of the group during the firm’s Q4 earnings call the previous week. Pichai was inquired about his views on web3 and Alphabet’s strategy to the industry. The CEO started elaborating by saying that anytime there is innovation,…
A day after announcing taxing crypto transactions just the same as winnings from gambling, the government said it doesn’t treat trading in crypto assets as illegal. Finance Secretary T V Somanathan said that the cryptos are in a grey area. It is not illegal to sell and buy crypto. He added that they have now…
Since the legal status of cryptocurrencies was on the grey side for so long, but finally, the Indian government came up with a solution to regulate cryptocurrencies and NFTs. India taxes crypto In the union budget 2022-2023, the Indian government covers cryptocurrency and NFTs under the “Virtual Digital Assets” umbrella. The government solved the tax-related…
On Tuesday morning, Finance Minister Nirmala Sitharaman confirmed that RBI (Reserve Bank of India) will launch a digital rupee soon. The digital currency by RBI will be based on blockchain technology the tech behind Bitcoin and other famous cryptocurrencies. FM said that the digital rupee will be issued by 2022-23 without offering any clarity on…
Cryptocurrency, blockchain, and decentralized technology are all appealing topics that have been heating up for almost ten years. Nowadays, everyone intends to be a part of the latest innovations. On Thursday, Google Cloud’s vice president of Financial Services, Yolande Piazza said that the company has set up a Google Cloud Assets Team that will aid…
On Wednesday, the Wall Street Journal reported that Meta Platform Inc.’s digital currency project Diem Association is shutting down and selling its technology to California-based Silvergate Capital for about $200 million. Formerly Facebook Inc., Meta first unveiled plans for Diem, called Libra previously, in June 2019, as part of an effort to expand beyond social…