Tag Archives: india

The Indian government has lost $420 million in what could have been a substantial revenue stream as a result of its taxation, forcing traders to move their transactions outside the country. Experts are now suggesting that the Indian government should take a more relaxed approach to its controversial stance on crypto taxation. According to a recent study by Delhi-based think tank Esya Centre, the highly debated crypto policy in India, involving a 1% transaction tax deducted at...

The proactive approach to framing crypto-specific guidelines comes as a respite after years of conversations about an outright ban on the sector that was initially mooted by the Reserve Bank of India. The Indian government may have shelved its plans to impose a blanket ban on crypto, but there’s still a long way to go, and the latest development depicts that the country’s approach has been a bit of a rollercoaster ride. A “Positive Precedent” for the World Indian financial...

Finance Ministers and Central Bank Governors (FMCBGs) from G20 nations, under the Indian Presidency, have announced unanimously adopting the ‘G20 Finance Ministers and Central Bank Governors Communique’ during its meeting in Marrakesh, Morocco. This comes a month after the G20 member nations accepted the crypto regulatory roadmap outlined in a collaborative report titled “IMF-FSB Synthesis Paper: Policies for Crypto-Assets,” jointly presented by the International Monetary...

The leading cryptocurrency exchange – Coinbase – has reportedly disabled new customer sign-ups on its platform in India. However, the company remains committed to the Asian country despite the recent rumors that it might pull out of the local market. No More Sign-ups According to a TechCrunch report, Coinbase has prohibited new sign-ups in India in June this year. A spokesperson of the firm shed more detail: “We stopped allowing new user sign-ups on our exchange product in...

Under India’s Group of 20 (G20) presidency, the country is finally gearing up to provide the much-anticipated clarity around crypto regulation. As India prepares to preside over the upcoming G20 summit for the first time, the regulation of cryptocurrencies is poised to be a significant focal point. Ahead of the gathering of the world’s most influential nations scheduled for later this week, India’s Minister of Finance, Nirmala Sitharaman, confirmed that discussions are in...

CoinSwitch – an Indian cryptocurrency exchange backed by the financial giant Andreessen Horowitz (a16z) – has reportedly trimmed its team by 44 people, representing 7% of the total workforce. Another local digital asset organization that recently announced similar amendments is CoinDCX, which laid off 12% of its employees. What is the Reason? According to a BQ Prime coverage, CoinSwitch has decided to reduce its team due to the decreasing level of customer activity. A...

CoinDCX is the latest crypto company to slash staff as it tries to navigate through market challenges. The Coinbase Ventures-backed Indian crypto unicorn cited the prolonged bear market and the impact of TDS on domestic exchanges to lay off 12% of its workforce, or 71, out of its total 590 employees. The development comes after the company went through an internal restructuring earlier this year. CoinDCX Lay Offs Founded by Neeraj Khandelwal and Sumit Gupta in 2018, CoinDCX...

CoinspeakerJio Financial Services (JFS) Drops 5% in Share Price Following Market Debut Despite recording a reduced valuation, JFS remains the third-largest non-banking financial company in India. Jio Financial Services (JFS) Drops 5% in Share Price Following Market Debut

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...

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...