The Bharat Web3 Association (BWA), a local blockchain advocacy group, has expressed support for the Indian government's latest blockchain initiative, hailing it as a significant leap forward for the country's digital landscape. The Indian Ministry of Electronics and Information Technology (MeitY) recently unveiled the National Blockchain Framework (NBF) and launched ...
India’s financial regulator may grant two foreign-based crypto exchanges approval to operate in the country by March 2025. According to a report by local media outlet Business Standard, the country’s Financial Intelligence Unit (FIU) is currently reviewing registration applications from four offshore cryptocurrency exchanges. While the specific platforms remain undisclosed, ...
India's biggest crypto exchange, CoinDCX, has obtained a business license from Ras Al Khaimah Digital Assets Oasis (RAK DAO) in the United Arab Emirates for its self-custodial Web3 wallet, Okto. This exchange announced this development in an official press release published today, August 27. The RAK DAO business license is ...
Indian authorities have reportedly arrested four individuals accused of running a fraudulent cryptocurrency trading platform that conned victims out of more than $90,000. According to a local media report, the scammers deceived investors by posing as representatives of a fictitious crypto trading platform called GBE Crypto Trading Company. The name ...
The Indian government will release a public consultation paper on comprehensive cryptocurrency regulations between September and October 2024, according to a new report from CNBC. The report revealed that a special panel, headed by the Secretary of the Department of Economic Affairs (DEA), will release the paper to gather input ...
Binance has resumed offering its services in India after a seven-month suspension due to regulatory issues. The exchange confirmed in an X post published today, August 15, 2024, that it has officially registered as a reporting entity with India's Financial Intelligence Unit (FIU). In January 2024, FIU blocked the website ...
A top official in the Indian Ministry of Finance has stated the country has no plans to introduce legislation to regulate cryptocurrency sales and purchases. In a written response to the Parliament's lower house request, Minister Pankaj Chaudhary clarified that the country's top financial regulator, the Financial Intelligence Unit (FIU), ...
Binance is reportedly facing new regulatory challenges in India. According to local media, The Times of India, the Ahmedabad zonal unit of the Directorate General of GST Intelligence (DGGI) has issued a show cause notice to Binance, demanding payment of 7.22 billion rupees (approximately $86 million) in goods and services ...
In response to the recent hack of local crypto exchange WazirX, India's Bharat Web3 Association (BWA) is ramping up efforts to enhance cybersecurity and strengthen consumer protection in the cryptocurrency sector. Local media reports that the BWA has established two new internal task forces to address these critical issues and ...
India's Narcotics Control Bureau (NCB) is intensifying its surveillance of cryptocurrency payments on the darknet as part of a broader strategy to combat drug trafficking. During a Parliamentary session on July 24, Nityanand Rai, Minister of State for Home Affairs, outlined the country’s approach to curbing the import and inter-state ...
