Blockchain & crypto news from India
Re-emphasizing the stand of the government on the legality of crypto, Nirmala Sitharaman, the Finance Minister of India has once again cautioned cryptocurrency investors against investment in any such cryptocurrency.
Finance Minister of India, Nirmala Sitharaman has tuned to the G20 nations to include cryptocurrency within the ‘Automatic Exchange of Information’ framework. Over 100 nations have adopted the Common Reporting Standard under the framework. The finance minister discussed crypto during the G20 Ministerial Symposium on Tax and Development in Bali, Indonesia on Friday.
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…
While addressing an event at Stanford Medicine, Nirmala Sitharaman, the finance minister of India said that India won’t hurriedly finalize a policy on cryptos and virtual digital assets. Rather, the country will make an informed decision after due deliberations across multilateral fora. At a fireside chat organized by the University, the finance minister said while…
After the adoption of the new crypto tax law, the volume of trading on major Indian crypto exchanges has dropped. Info gathered by a Mumbai-based research organization Crebaco and a crypto data generator Nomics revealed this. On April 1, the new tax law became effective. All profits from crypto trading in the nation will be…
The income tax department of India has reportedly targeted around 700 crypto investors who have failed to pay taxes on high-value crypto transactions. According to an official with the nation’s Central Board of Direct Taxation, they have a long list of people who were dealing in crypto assets but weren’t paying tax. The list includes…
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…
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 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…
The Government of India was criticized severely to introduce new laws for crypto during the Parliament’s Winter Session which started on November 29. The session has concluded and the crypto bill didn’t make it to the table. This is the second time that ‘The Crypto and Regulation of Official Digital Currency Bill, 2021’ was listed…