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The RBI’s stance is justified, according to the governor.0
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- May 24, 2022
Following the collapse of Terra’s UST and LUNA, RBI governor Shaktikanta Das noted in a local media interview that the central bank has been right to warn against cryptocurrencies. On Monday, Das told CNBC TV18 that if cryptocurrency had been regulated in India before the recent crisis involving the Terra ecosystem, investors would have questioned
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CoinSwitch in India is pleading for regulatory clarity and predictability0
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- May 23, 2022
India CoinSwitch CEO Ashish Singhal claimed that the country needs to enact legislation on cryptocurrency to solve regulatory ambiguity, protect investors, and expand India’s crypto economy. Despite the fact that India’s central bank has campaigned for a ban on cryptocurrencies owing to concerns to financial stability, the cryptocurrency industry has interpreted the federal government’s proposal
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India is considering imposing a ‘reverse charge’ tax on foreign cryptocurrency exchanges0
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- May 18, 2022
The India government is considering imposing a “reverse charge” on virtual digital asset investments made through foreign platforms. A reverse charge is a tax owed by the recipient of goods or services rather than the supplier. The burden of goods and services taxation (GST) will rest on an Indian investor who purchases services from a
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In India, cryptocurrencies, like betting and casinos, may soon be subject to a 28 percent GST0
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- May 9, 2022
The GST Council is expected to consider imposing a 28 percent GST on cryptocurrencies. The government wants cryptocurrency to be on par with lotteries, casinos, racetracks, and betting. The GST Council has appointed a law committee to consider the idea to impose a 28% Goods and Services Tax on all services and activities related to
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Regulation of cryptocurrency must ‘take its time,’ according to India’s FM. Nirmala Sitharaman0
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- April 28, 2022
Indian finance minister Nirmala Sitharaman said at Stanford University on Wednesday that regulating cryptocurrency will take time to ensure the government takes a careful approach. “We recognize that there is a lot of potential and already well-grounded progress”“made in the distributed ledger technologies,” So, Sitharaman says As a result, she continued, the government does not
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To get around payment channel restrictions, Indian crypto exchanges are becoming P2P0
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- April 18, 2022
As part of an ongoing effort to circumvent bank and payment company limitations, a number of Indian bitcoin exchanges are supporting peer-to-peer transfers. When the exchange gets a buy order, it immediately connects the buyer with the seller. The buyer can then send money to the seller through a bank or a payment mechanism, and
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