Blockchain & crypto news from India
Piyush Gupta, the CEO of DBS Bank announced during the bank’s fourth-quarter earnings call that the bank intends to launch cryptocurrency trading for retail investors this year. Gupta said that in the first half of this year DBS will work on making digital assets very effortlessly accessible. DBS Bank Limited is a Singaporean multinational financial…
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…
On 1st February, while announcing the Budget 2022, Finance Minister Nirmala Sitharaman announced something unexpected. Sitharaman said income from the virtual or digital assets (cryptocurrency) will be taxed at @30%. In addition, @1% TDS (tax deducted at source) will also be levied by the government on these investments. The 30% taxation is retributive tax, harshly…
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…
Cryptocurrencies have grown substantially over the last decade. This growth has buzzed up a lot of different questions. One of them is about the difference between crypto coins and tokens. So, in this article, we will differentiate between both of them. What are crypto coins and tokens? A crypto coin is the electronic version of…
Thailand has declared that cryptocurrency will be regulated as a means of payment for services and goods to avoid potential impacts on the nation’s financial stability and economic system. The statement came from the Bank of Thailand, the Ministry of Finance and the Thai Securities and Exchange Commission. On Tuesday, the Bank of Thailand, the…
On Friday, Cryptocurrency saw a collapse for the second time in less than a month, initiated by the Russian Central Bank proposal to prohibit the use and mining of cryptocurrencies. Bitcoin has lost more than 12% Friday and dropped below $36,000 to its lowest level since July. As per the historical data, Bitcoin has lost…
Torus Kling Blockchain IFSC, a joint venture between financial management firm Kling Trading India and Cosmea Financial Holdings, is ready to launch Asia’s first cryptocurrency ETF, which will probably be in the crypto market of India by March 2022 in GIFT (Gujarat International Finance Tech) city. Both of these firms have linked a Memorandum of…
The upcoming Union Budget is expected to bring transparency regarding regulatory ambiguity related to the cryptocurrency sector. Initial highlights of the recommended crypto bill indicate the SEBI’s role in regulating crypto as an investment asset in capital markets, with the Reserve Bank of India supervising the foreign exchange and wider monetary aspects. Jurisdictional transparency in…
Latest regulations are being passed in the United Arab Emirates (UAE), ensuring strict punishments for cryptocurrency scammers targeting investors in the nation. These regulations which will come to effect on January 2, 2022, call for prison time for up to half a decade and penalty up to approximately Rs. 2 crores i.e. AED 1 Million….