Tags : Indian

Regulation

RBI governor “surprised” that Indian banks cited 2018 laws to

Reserve Bank of India (RBI) governor Shaktikanta Das said this week the central bank has ‘no change’ with regards to its approach towards the crypto sector, local outlet Business Standard reported today. Crypto surprise Das stated he was “surprised” with local banks citing a (void) circular from 2018 for denying services to crypto businesses and […]Read More

Bitcoin

Despite no laws, Indian minister says traders must pay taxes

An official from India’s ministry of finance said Monday that all gains from trading cryptocurrencies like Bitcoin were liable to income tax, as per a report on markets outlet Financial Express. The sector exists in a legal grey area in the country, and investors were so far (seemingly) confused about whether to declare their gains […]Read More

Cryptocurrency

Bitcoin drops 10% after Indian government proposes new crypto ban

Today, Bitcoin dropped more than 10% after the Indian government proposed legislation for banning Bitcoin, according to Reuters. The government already had plans to ban cryptocurrencies since January — but now it’s become clear that the goal is to strictly regulate profiting with Bitcoin, which includes holding or trading. $1 Billion in Positions Liquidated According […]Read More