The Binance owned WazirX exchange has been enjoying record volumes recently despite the ongoing regulatory uncertainty from Indian politicians. Its native token, WRX, has skyrocketed to a new all-time high on the back of news that the company will be launching its own non-fungible token platform for Indian markets. According to local media, WazirX has...Read More
While the cryptocurrency landscape in India is still faced with regulatory uncertainty, the government has directed that companies should disclose details of their crypto transactions and holdings. Possible Crypto Regulation for India? According to a document published on March 24, both public and private firms in India care to disclose details of their cryptocurrency activities...Read More
After temporarily breaking the ice on bitcoin regulations, the Indian government is doubling down its efforts to restrain cryptocurrency use. A new bill on the way could place cryptocurrency holders and miners at risk of fines and possible jail time. New Indian Anti-Bitcoin Bill On the Cards A fresh Reuters report claims that India is...Read More
FD7 Ventures, the cryptocurrency-oriented fund that recently vowed to dispose of its BTC holdings for ADA and DOT, has set up a $250 million micro-fund focusing on investments in teams working on the ecosystems of Polkadot and Cardano. FD7 Goes to India for DOT and ADA Based in Dubai, UAE, FD7 is a crypto-oriented investment...Read More
Amid the clamor for nuanced crypto regulations in India, one billionaire investor appears not to be sold on the value proposition for cryptocurrencies and has advocated for a Bitcoin (BTC) ban. Bitcoin Hangover will be ‘Much Worse’ Speaking to CNBC on Tuesday (Feb. 23, 2021), Rakesh Jhunjhunwala, dubbed the “Indian Warren Buffett,” slammed Bitcoin, calling...Read More
Twitter CEO Jack Dorsey and Rapper Jay Z have come together to make a 500 Bitcoin donation to teams in Africa and India. The Twitter Co-Founder updated his status on the platform to announce the collaboration earlier today. JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development,...Read More
The Indian cryptocurrency scene is currently waiting on an imminent Crypto Bill, which may define the future of digital assets in the country. The situation is vastly different from 2019 as the current bill also includes the possible development of a Central Bank Digital Currency supported by the Reserve Bank of India (RBI). With a...Read More
The Government of India seems to have resumed its efforts to ban cryptocurrencies after a lull in a political and legal battle. The latest move by politicians came this week when they revealed a bill that could put any activity related to cryptocurrencies in checkmate. If Cryptocurrencies Are Legal, a Law Can Make Them Illegal...Read More
UAE-based LuLu Exchange is in the news after it announced its partnership with Ripple and India’s Federal Bank to facilitate faster cross-border payments from UAE to India. We are proud to announce our partnership with Ripple and Federal Bank to enhance real-time payments from UAE to India that are faster and more affordable than ever...Read More
India is looking towards adopting blockchain technology for remote voting. This comes despite the country’s stance against cryptocurrency trading. Blockchain Technology in India’s Voting Process According to The Wire, on Monday (Jan. 25, 2020), Sunil Arora, India’s Chief Election Commissioner (CEC), announced the plans to use blockchain technology in a mock trial for remote voting....Read More
While Bitcoin’s price has more than doubled from its previous all-time high of $19,666 for the first time in almost 3 years, not a lot seems to have changed for India. For a country with 1.35 billion in population and a GDP of $2.7 trillion, getting on board with cryptocurrency aka digital/virtual currency seems to...Read More
Indian authorities have arrested a 60-year-old greetings maker for duping about 45 people in investing over $350,000 in a fraudulent cryptocurrency scheme. The accused ran the operation through a designated application and promised double-digit monthly returns. Indian Crypto Fraudster Arrested As reported by the Times of India, the local police apprehended Umesh Verma at the...Read More
The 100 BTC kidnapping case in the Indian state of Karnataka continues to develop as the local police have arrested another suspect on the case. Reports say he was the one who abducted the kid in front of his home after being recruited by the mastermind of the entire operation. Progress On A 100 BTC...Read More
Although India still displays uncertainty in its approach towards cryptocurrencies, the local government is reportedly considering implementing an 18% goods and services tax on BTC transactions. With such transactions exceeding $5 billion annually, the newly proposed tax could generate additional revenue of about $1 billion. 18% Tax On BTC Transactions In India? According to the...Read More
Click Here For AMBCrypto’s Survey – A chance to win Trezor One The Indian Government has moved towards potentially implementing a tax of 18% on Bitcoin trading in the country. According to reports, the central government is currently weighing a proposal to impose a Goods and Services (GST) tax on Bitcoin, which is estimated to...Read More
In a Bitcoin-related kidnapping event in Karnataka, India, abductors asked for a 100 BTC ransom for the son of a local businessman and crypto investor. The police managed to capture six suspects on the case, which were all related to the victim’s family. 100 BTC for The Son of A Crypto Investor An eight-year-old boy...Read More
CoinDCX, India’s largest cryptocurrency exchange, has raised Rs 100 crores ($13.9 million) from investors to complete the exchange’s third round of seed funding for the year 2020. The Series B round was led by Block.one and included investors such as DG, Jump Capital, Uncorrelated Ventures, Coinbase Ventures, Polychain Capital, Mehta Ventures, and Alex Pack. Back...Read More
Barely ten months after the Indian Supreme Court lifted the RBI’s ban on cryptocurrency transactions, fresh reports from yesterday revealed that the country’s tax authority is now keeping a close watch on crypto traders as Bitcoin’s price continues its bullish trend. Taxing Crypto Gains According to local media, the Indian Tax Department is already in...Read More
Quartz Devkit, a blockchain developer toolkit backed by leading Indian IT service provider, Tata Consultancy Services, has just announced its support for the Ethereum Blockchain. The development platform will now enable decentralized applications and the deployment of smart contracts on three blockchain platforms – Hyperledger Fabric, R3/Corda, and Ethereum. Quartz DevKit claims to allow programmers...Read More
After the Supreme Court’s ruling to quash the ban on cryptocurrencies in India, activity in the crypto space has grown significantly, however, some rumors have still emerged about the uncertainty regarding the legal status for Bitcoin and cryptocurrencies in the country. However, as Sathvik Vishwanath, CEO of Unocoin stated in a recent interview spoke about...Read More
For many, India is a country with a lot of untapped potential, a country that can truly launch the crypto-space to the stratosphere. However, many hurdles stand in the way of these dreams becoming a reality. These hurdles were recently highlighted by a survey reporting the sentiments of investors in India, a survey done by...Read More
India has noted an uptick in crypto users over the past year. This surge in the crypto users can mainly be attributed to the Supre Court’s decision to quash the Central Bank’s circular that called for a banking ban for crypto transactions in 2018. This judgment has temporarily also impacted user-perspective regarding crypto in the...Read More
The increasing value of Bitcoin [BTC] has given a nudge to many traders snoozing during the low volatility period. The coin’s current trading value of over $15K has enabled significant profits for BTC investors. As the cryptocurrency market retraced the 2017/18 journey, the P2P volumes appeared 66% lower than the peak noted during the previous...Read More
Decentralized oracle platform Razor Network has raised a total of $3.7 million in a seed and private sales round which was led by investors in the blockchain space, such as NGC Ventures, Alameda Research, and Spark Digital Capital among others. The firm’s private sale round saw investors including Mariano Conti, former head of oracles at...Read More
Bitcoin’s price was rallying before CFTC charges hit BitMEX, and immediately after, retail traders started scaling back positions on BitMEX. Open interest in XBTUSD perpetual contracts on BitMEX dropped to 55000 BTC. BTC Perpetual Swap Funding Rate || Source: Skew The funding rate dropped below -0.05% in the first week of October in response to...Read More
Unocoin is one of the earliest exchanges to enter the Indian cryptocurrency arena in 2013. And now the crypto trading platform has received funding from billionaire and bitcoin bull Tim Draper. The Series A round which raised $5 million was led by Draper Associates. 2020 Ventures and crypto-focused VC firm XBTO Ventures also participated in...Read More
Indian police are investigating a New Delhi-based crypto firm, ‘Pluto exchange,’ which has been accused of swindling Rs 2 crore (approximately $270K) from 43 crypto investors, according to local reports. The Economic Offences Wing of the Delhi Police has suspected one Bharat Verma to be the Director of the crypto company who reportedly lured in...Read More
Banned or not, cryptocurrencies made its way to India, and traders have not shied away from the opportunity to explore their investment options. Among top cryptocurrencies, Bitcoin has been the most-opted for crypto given its history and dominance above other alts. As the BTC market has been providing great opportunities for traders to enter the...Read More
Twitter continues to experience technical issues trying to protect high-profile accounts as the social media giant has confirmed another hack. This time, it involved India’s Prime Minister Narendra Modi. Upon taking over the account, the perpetrators had requested donations in Bitcoin and other cryptocurrencies. Twitter Hacks – The Indian Edition Less than two months ago,...Read More
The period of altseason has been predicted by many and there has been growing interest visible for crypto. Binance recently added Indian Rupees [INR] on its peer-to-peer trading platform to attract Indian traders but the payment method still posed a problem. On 21 August, Binance added 58 new payment methods, and India’s e-commerce payment system...Read More
