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India
What India's Controversial Crypto Tax Means for Investors
India introduced a 30% tax on crypto profits and the 1% TDS on all transactions in July, 2022, resulting in traffic taking a nosedive and many exchanges going into survival mode. CoinDCX CEO Sumit Gupta discusses the controversial crypto policy and the subsequent impact for crypto veterans and beginner investors alike.
India Won't See Crypto or Web3 Bill for Another 18 Months, Senior Lawmaker Says
Jayant Sinha, one of India's senior politicians who helps oversee the financial evolution of the nation, told CoinDesk that the country is unlikely to bring a crypto or Web3-specific legislative bill anytime soon. CoinDCX CEO Sumit Gupta joins "First Mover" to discuss the state of crypto regulation and mainstream adoption in India.
India Won't See Crypto or Web3 Bill for Another 18 Months, Senior Lawmaker Tells CoinDesk
"Many important countries, whether it's the US, the UK, India, are going in for elections and so, I'm not sure in 2024 the standards will develop," Sinha said.
28 Indian Crypto Service Providers Have Registered With Country’s Anti-Money Laundering Unit
In March, India's Finance Ministry mandated that crypto businesses will have to register with the Financial Intelligence Unit (FIU).
The Algorand Foundation Expands Its Footprint in India
The foundation's AlgoBharat initiative has secured new partnerships in India with NASSCOM, TiE Bangalore and the Mann Deshi Foundation.
India's Supreme Court Turns Away Petition Asking Government to Frame Crypto Guidelines
"Though the petition is under Article 32 of the Constitution, it is evident that the real purpose is to seek bail in proceedings which are pending against the petitioner," the order said.
India's Controversial Crypto Tax Should Be Cut After Failing to Achieve Aims, Think Tank Urges
The government lost $420 million in potential revenue and failed to improve transparency because the tax regime prompted as many as 5 million crypto users to shift transactions offshore, a new study found.
India's Central Bureau of Investigation Appoints Liminal to Manage Seized Digital Assets
Liminal has already supported the CBI in an operation by assembling a specialized team to safely store seized assets.
Indian Police Arrest 8 More in $300M Crypto Scam: Report
Four cops were among those arrested, while the operation's alleged kingpin, Subhash Sharma, remains at large, according to local media reports.
Indian Crypto Investment Platform Mudrex Expands to Italy
Mudrex successfully registered with Italy's Organismo Agenti e Mediatori (OAM), a mandatory step for crypto firms, on Sept. 1, according to the CEO.
