To create returns, CoinDCX will deploy the assets under ‘Earn’ across a variety of yield-generating options such as margin trading, lending, and staking. With no lock-in periods and withdrawals at any moment, the functionality provides customers with complete flexibility and control over their cryptocurrency. The tenor must be at least seven days. This capability is
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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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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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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 a Tuesday earnings call, Coinbase CEO Brian Armstrong admitted that the exchange stopped the unified payments interface (UPI) in India due to “informal pressure” from the state bank. Armstrong’s remarks came a month after Coinbase’s India services were banned three days after their launch. Despite the Supreme Court’s decision in 2020 to overturn the
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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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