Blockchain & crypto news from India
Daler Mehndi has bought a piece of land in the metaverse and he’s named ‘Balle Balle Land’. According to reports, this is India’s first land acquisition in the metaverse. Mehndi revealed the land on Holi this year and it will house a store selling non-fungible tokens (NFTs). The land also owns a gold idol of…
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…
According to reports, India’s hot topic crypto bill, which suggests strict regulations be imposed in the cryptocurrency sector, is not likely to be presented before the Parliament during the winter session after all. Citing sources, a few reports mention that the government is currently gathering information on how other countries are thinking about restricting cryptos….
If you are a crypto enthusiast or love to trade in crypto, then there’s a new botnet variant you need to be cautioned; about. Check Point Research, a cybersecurity company has reported a new botnet variant named Twizt. It is reported to have stolen crypto about half a million dollars via a technique called ‘crypto…
According to reports, the latest Indian crypto bill will necessitate the requirement for sharing KYC (Know Your Customer) data of users with several regulators and government agencies for verification. The latest bill will command for a uniform KYC procedure for all cryptocurrency exchanges though they have their own process as of now. The new bill…
According to sources, suggested legislation that would prohibit the use of cryptos as a mode of payment in India also anticipates making those who violate the law subject to arrest without a warrant and being held without bail. The government of PM Narendra Modi has earlier indicated that it proposes to prohibit most cryptos –…
India’s new crypto law is set to red-flag many investment schemes introduced by crypto exchanges and individuals that are akin to multi-level marketing (MLM), chit funds and systematic investment plans (SIP), as it looks forward to creating a robust regulatory system to safeguard vulnerable rural populations purchasing risky cryptocurrency assets. Regulators including the Securities and…
Tata Steel has accomplished a blockchain-enabled paperless export order with Bangladesh’s metal major. This is the first such transaction accomplished between a counterparty in Bangladesh and an India-based firm. Primarily, Tata Steel, in a global first for the steel industry, had utilized a blockchain platform launched by HSBC to accomplish a trade finance deal with…
A detailed bill on cryptos is expected to be presented for clearance at a meeting of the Union Cabinet prior to or during the winter session beginning from November 29. According to sources, once the bill describing the regulation of cryptos, the purpose to tax earnings from them and their classification gets Cabinet’s nod, it…
India is thinking of not likely going ahead with cryptocurrency, for doing transactions or making payments. However, one can invest in cryptocurrency and held them like assets, the same way how people do investments in gold, shares and bonds. As per the reports, Indian government authorities may still not put a complete ban on crypto….