India Crypto Law

Binance, facing a GST payment of Rs. 772 crore in India, has promised to comply with local authorities. However, the company has yet to provide further details regarding its situation with the DGGI.

Binance has been issued a notice for the payment of Rs. 772 crore in GST charges in India. In conversation with Gadgets360, an official said the notice issued to Binance should be seen by the exchange as an opportunity to present their front of the case and bring their business operations in alignment with India’s legal framework.

Crypto stakeholders, including Bharat Web Association, are preparing to discuss a comprehensive policy framework to govern crypto. This paper is expected to be released before September.

South Korea has deployed a list of rules to be followed by crypto companies. This legal framework is aimed at controlling and eventually curbing the exploit of crypto assets for illicit activities like money laundering and terror financing.

The crypto industry in India has once again asked the Reserve Bank of India to define the status of the banking with crypto firms in the country. These companies have highlighted the moves taken by financial authorities in the world, who have begun to define the parameters that banks need to follow before growing their relationships with the crypto...

The BCBS has given a green light to a ‘disclosure framework’ that will detail how the exposure of banks with crypto assets should go about. The disclosure framework by BCBS directs banks to maintain public records of their crypto engagements and their exposure to these risky assets.

India could fetch Rs. 5,144 crores through capital gains in the next three years by 2026 – only if India revises its crypto laws. The finding was published in a policy paper compiled by the Centre for Tax Laws, Hyderabad-based NALSAR University of Law, and some individual members of the Indian crypto community.

The Bharat Web3 Association (BWA) has urged FM Nirmala Sitharaman to provide a level playing ground for Web3 startups and businesses to thrive in. The BWA said it is of high importance that Web3 platforms get access to the provision of banking services. The advisory body has further urged the government to encourage investment and growth in the Web...

The Indian crypto circle has been waiting for FM Sitharaman to revise the tax laws imposed over the crypto sector. Despite the outcry, the finance minister did not announce any taxation relief for the crypto sector while presenting the interim annual budget earlier this year. Her re-appointment to the finance minister’s position has sparked conce...

The Bharat Web3 Association (BWA) recently hosted its first ever training and awareness workshop on the Prevention of Money Laundering Act (PMLA). The aim of this meeting was to open dialogues on the steps that could prevent the misuse of cryptocurrencies for unlawful activities like money laundering and terror financing.

The BWA, in a recent announcement, listed some immediate steps that the upcoming government could consider aiming to grow the blockchain-based sector. Providing escrow accounts and banking services for owners of Web3 businesses, allowing offsetting of losses, and reducing the one percent TDS tax law to 0.01 percent are among suggestions given by th...

Avinash Shekhar, the CEO of Taxnodes has pointed out that crypto tax compliance in India has continued to be ‘very low’ since these taxes were levied back in 2022. He has reminded the community that discipline and compliance is the way to gain the government’s trust on India’s crypto circle.

Arming up to tackle this expected rise in crypto tax evasion cases, the IRS in the US is already forging partnerships with several law enforcement divisions to improve the criminal identification process.

KuCoin has become the latest international crypto exchange to have completed compliance with India’s FIU. The tax deduction process on KuCoin for Indian investors and traders will begin on April 10 and the authorities will deposit the amount to India’s financial authorities.

The FATF has expressed concerns about nations delaying deployment and adoption of crypto-related rules. The Paris-based global financial watchdog is leaving room for criminal activities to take shape.

Binance, facing a GST payment of Rs. 772 crore in India, has promised to comply with local authorities. However, the company has yet to provide further details regarding its situation with the DGGI.

Binance has been issued a notice for the payment of Rs. 772 crore in GST charges in India. In conversation with Gadgets360, an official said the notice issued to Binance should be seen by the exchange as an opportunity to present their front of the case and bring their business operations in alignment with India’s legal framework.

Crypto stakeholders, including Bharat Web Association, are preparing to discuss a comprehensive policy framework to govern crypto. This paper is expected to be released before September.

South Korea has deployed a list of rules to be followed by crypto companies. This legal framework is aimed at controlling and eventually curbing the exploit of crypto assets for illicit activities like money laundering and terror financing.

The crypto industry in India has once again asked the Reserve Bank of India to define the status of the banking with crypto firms in the country. These companies have highlighted the moves taken by financial authorities in the world, who have begun to define the parameters that banks need to follow before growing their relationships with the crypto...

The BCBS has given a green light to a ‘disclosure framework’ that will detail how the exposure of banks with crypto assets should go about. The disclosure framework by BCBS directs banks to maintain public records of their crypto engagements and their exposure to these risky assets.

India could fetch Rs. 5,144 crores through capital gains in the next three years by 2026 – only if India revises its crypto laws. The finding was published in a policy paper compiled by the Centre for Tax Laws, Hyderabad-based NALSAR University of Law, and some individual members of the Indian crypto community.

The Bharat Web3 Association (BWA) has urged FM Nirmala Sitharaman to provide a level playing ground for Web3 startups and businesses to thrive in. The BWA said it is of high importance that Web3 platforms get access to the provision of banking services. The advisory body has further urged the government to encourage investment and growth in the Web...

The Indian crypto circle has been waiting for FM Sitharaman to revise the tax laws imposed over the crypto sector. Despite the outcry, the finance minister did not announce any taxation relief for the crypto sector while presenting the interim annual budget earlier this year. Her re-appointment to the finance minister’s position has sparked conce...

The Bharat Web3 Association (BWA) recently hosted its first ever training and awareness workshop on the Prevention of Money Laundering Act (PMLA). The aim of this meeting was to open dialogues on the steps that could prevent the misuse of cryptocurrencies for unlawful activities like money laundering and terror financing.

The BWA, in a recent announcement, listed some immediate steps that the upcoming government could consider aiming to grow the blockchain-based sector. Providing escrow accounts and banking services for owners of Web3 businesses, allowing offsetting of losses, and reducing the one percent TDS tax law to 0.01 percent are among suggestions given by th...

Avinash Shekhar, the CEO of Taxnodes has pointed out that crypto tax compliance in India has continued to be ‘very low’ since these taxes were levied back in 2022. He has reminded the community that discipline and compliance is the way to gain the government’s trust on India’s crypto circle.

Arming up to tackle this expected rise in crypto tax evasion cases, the IRS in the US is already forging partnerships with several law enforcement divisions to improve the criminal identification process.

KuCoin has become the latest international crypto exchange to have completed compliance with India’s FIU. The tax deduction process on KuCoin for Indian investors and traders will begin on April 10 and the authorities will deposit the amount to India’s financial authorities.

The FATF has expressed concerns about nations delaying deployment and adoption of crypto-related rules. The Paris-based global financial watchdog is leaving room for criminal activities to take shape.