Blockchain & crypto news from India
Has the bear market dented the confidence of investors around the world in cryptocurrencies? Which countries are leading the pack in terms of cryptocurrencies deposited in exchanges and other investing platforms such as De-Fi? Chainalysis will be publishing a full report this October, and in a blog post has given a peek into the major…
On Monday, economic affairs secretary Ajay Seth told the reporters that inflation in India should moderate in the upcoming months and the government is prepared with its consultation paper on cryptos. He added that there should be a global consensus reached on cryptos and the country would monitor the regulations enforced in other nations prior…
India will get its very own official digital currency soon. According to a top government source, it will mirror any of the presently available private firm-operated electronic wallets, but with a twist that it will be a sovereign-supported facility. In her budget speech the previous week, Finance Minister Nirmala Sitharaman discussed launching a central bank-backed…
On Wednesday, crypto tax compliance and portfolio tracking platform CoinTracker announced its entry into India. The firm’s stance also comes against the backdrop of the government ordering 30% taxation on such transactions with effect from April 1. While announcing the launch of its product in the nation, the company said that beginning today, the cryptocurrency…
According to a top executive, Bitmex, one of the top crypto exchanges in the world is launching spot trading in India on Tuesday, despite the uncertainty in the cryptocurrency market and an adverse regulatory environment. The spot exchange will enable Indian users to convert, purchase, withdraw and deposit multiple cryptos instantly. According to the vice…
In what could mar the mood of the cryptocurrency investors in India, the goods and services tax (GST) Council is expected to mull imposing a 28% tax on cryptos. The proposal is anticipated to be tabled in the upcoming GST Council meeting. As per reports the 28% GST will be in addition to the 30%…
On Wednesday, California, which would have the fifth-largest economy in the world if it was a nation, became the first US state to formally start monitoring how to broadly adapt to crypto and associated innovations, following a path established by President Joe Biden in March. Gov. Gavin Newsom signed an executive order for state agencies…
Prominent cryptocurrency exchanges WazirX and CoinSwitch Kuber have blocked rupee deposits for the buying of crypto using a widely-used state-fostered transfer system, provoking users to voice concern on social media. India has spent years on a law to regulate or ban cryptos, with its central bank supporting a ban over their threat to financial stability,…
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Hiring trends disclose that software developers, entrepreneurs and startups in India will play an important role in developing global platforms and applications for Web3, the third generation of the internet. Web3 utilizes blockchain-based technologies to develop a decentralized version of the web. Firms creating Web3 platforms and applications will need blockchain developers, app developers, machine…