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Tag Archives: india

Revolut to Expand its Crypto Division by 20% Despite Halting Services for US Clients (Report)

The leading financial technology company – Revolut – reportedly plans to increase its global cryptocurrency team by hiring up to 20% more employees by the end of 2023. The move comes somewhat unexpectedly since the firm recently disclosed that it will suspend digital asset services to US-based customers from September. As revealed by Financial News, Revolut is set to onboard over 1,000 people this year across the United Kingdom, Europe, and India. Approximately 40% of those...

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Nirmala Sitharaman Thinks Crypto Will Dominate India’s Future

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up India’s Minister of Finance Nirmala Sitharaman says cryptocurrencies will take up most of the chat time during this year’s upcoming G20 presidency event in India. Nirmala Sitharaman on Crypto in India Not long ago, Sitharaman visited Washington and explained in a statement: Given so many collapses and shocks in...

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Rajeev Chandrasekhar: Crypto Is Quite Risky

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Rajeev Chandrasekhar – the minister of state for IT and electronics – said crypto could present a “legitimate case of macroeconomic risks,” in a recent report. He also said that a world without crypto regulation is a dangerous one. Rajeev Chandrasekhar on Crypto in India Chandrasekhar commented: It is a very...

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Indian Investor Committed Suicide After Losing Money on Bitcoin (Report)

A 49-year-old resident of Kolkata, India, reportedly drowned in the Hooghly River. The primary autopsy found no evidence of violence, suggesting he committed suicide.  The man supposedly invested in shares and bitcoin, hinting that a potential loss on his investment could be one reason behind his unnatural death. Another Indian Jumping off a Bridge A recent coverage informed that the Indian police found the body floating in the Hooghly River, several miles north of Kolkata....

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Gemini Strengthens its Presence in Asia With a New Office in India

The US-based cryptocurrency exchange – Gemini – announced plans to establish a new engineering hub in Gurgaon, India. This will be the company’s second Asian location, as previously it opened an office in Singapore. The expansion outside the US coincides with the regulatory uncertainty in the States. The CEO of Coinbase – Brian Armstrong – recently opined that many American crypto firms could relocate if the watchdogs continue their scrutiny over the industry. Setting Eyes on...

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Indian Man Tried to Jump Off Bridge After Suffering Losses in Crypto: Report

A 23-year-old professional with a major tech company who lost nearly Rs. 30 lakh (approx. $37,500) in the cryptocurrency market tried to commit suicide by jumping off a river bridge in Kolkata, India. A cab driver who noticed the young man on the Vidyasagar Setu (bridge) alerted the nearby police about his intentions. Borrowed to Invest in Crypto The police were able to prevent the techie from jumping off the famous bridge into the river, media reports said, without...

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India’s 1% TDS on Crypto Transfers Yields $19 Million in 9 Months

Indian tax authorities collected Rs 158 crore (approx. $19 million) in TDS on the transfer of virtual digital assets (VDA) till March 20, Minister of State for Finance Pankaj Chaudhary told the Parliament on Tuesday.  Given that the financial year ended on March 31, it can be taken as the final figure for the entire 2022-23 fiscal. 1% TDS at $125 Threshold  The Indian government brought crypto transactions under a new tax regime through the budget for 2022-23. It provided for...

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Mumbai Woman Loses $30K in Crypto Scam to Man She Met on Matrimonial Site: Report

A 60-year-old Indian woman lost nearly $30,000 in a crypto investment scam after she was approached on the matrimonial site where she had registered herself to look for a life partner. The con man told her that he was a US-based engineer and can make her earn quick profits through bitcoin investments.   Investment in Love Gone Wrong According to media reports, the Mumbai woman, who is a retired executive from a private company, registered on a matrimonial website in early...

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India to Have Over 150 Million Crypto Users by the End of 2023? (Study)

According to a recent Statista report, India’s crypto community could surge to more than 156 million members by the end of the year.  Most people expected to jump on the bandwagon are educated younger individuals with middle-income status who seek alternatives to the shaking banking system. Indians Could Flock to Crypto in the Near Future The survey estimated that over 11% of India’s population will have dived into the cryptocurrency sector by the end of 2023. The country’s...

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