What is Crypto? Is it Legal in India? All You Need to Know
2 weeks, 4 days ago

What is Crypto? Is it Legal in India? All You Need to Know

Deccan Chronicle  

In recent years, crypto has emerged as a fascinating and distinct asset class. Let us examine these aspects in order: Understanding Crypto: A New Digital Asset Class At its core, crypto refers to digital assets secured by cryptography. The IT Bill, presented in the Lok Sabha on February 13 this year, explicitly describes virtual digital assets ‘as a digital representation of value that relies on a cryptographically secured distributed ledger or a similar technology to validate and secure transactions.’ This formalisation is seen as a step towards bringing crypto within the ambit of the Indian financial framework. The Taxation of Crypto in India The biggest regulatory development in India came in 2022 when the government introduced a tax regime for crypto transactions. A 1% TDS applies on the sale of crypto assets exceeding ₹50,000 within a single financial year.

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Intel agency pins 'suspicion' of crypto being used for terror financing, drugs trafficking in India
1 week, 6 days ago

Intel agency pins 'suspicion' of crypto being used for terror financing, drugs trafficking in India

Hindustan Times  

New Delhi, A trends study conducted by the federal financial intelligence unit of India has expressed "suspicion" that cryptocurrency is being used across the country's landscape in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking apart from illegal betting and gambling. Intel agency pins 'suspicion' of crypto being used for terror financing, drugs trafficking in India …

What is Crypto? Is it Legal in India? All You Need to Know
Trending News
2 weeks, 4 days ago

What is Crypto? Is it Legal in India? All You Need to Know

Deccan Chronicle  

In recent years, crypto has emerged as a fascinating and distinct asset class. Let us examine these aspects in order: Understanding Crypto: A New Digital Asset Class At its core, crypto refers to digital assets secured by cryptography. The IT Bill, presented in the Lok Sabha on February 13 this year, explicitly describes virtual digital assets ‘as a digital representation …

Crypto trading booms in India's interiors as job growth and incomes disappoint
1 month ago

Crypto trading booms in India's interiors as job growth and incomes disappoint

The Hindu  

Like thousands of his countrymen in far-flung places, flower-shop owner Ashish Nagose has been learning about trading cryptocurrencies by attending classes every weekday for the past two months in his home city of Nagpur in western India. Newfound crypto enthusiasts in India such as Nagose have helped grow cumulative trading volumes of bitcoin, ethereum, dogecoin and other cryptocurrencies on four …

India's Crypto Policy Delayed Further? Report Suggests Re-Evaluation Of Stances By Multiple Jurisdictions
1 month, 3 weeks ago

India's Crypto Policy Delayed Further? Report Suggests Re-Evaluation Of Stances By Multiple Jurisdictions

ABP News  

India is re-evaluating its position on cryptocurrencies following recent international developments, including regulatory changes in major economies, according to a senior Government official, reported Reuters. The decision comes as multiple jurisdictions have softened their stance on digital assets, prompting India to revisit its delayed discussion paper on crypto policy, which was initially expected to be released in September 2024. Crypto …

India reviewing crypto position due to global changes, senior official says
1 month, 3 weeks ago

India reviewing crypto position due to global changes, senior official says

The Hindu  

India is reviewing its stance on cryptocurrencies due to shifting attitudes towards the virtual asset in other countries, a senior government official told Reuters on Sunday. He did not specifically mention the United States, where Mr. Trump last week ordered the creation of a cryptocurrency working group tasked with proposing new digital asset regulations and exploring the creation of a …

Government is reportedly thinking about changing its stance on cryptocurrency
1 month, 3 weeks ago

Government is reportedly thinking about changing its stance on cryptocurrency

India Today  

India has a rigid cryptocurrency environment, and its stance on the digital currency has been anything but consistent. In December 2023, the Financial Intelligence Unit in India issued show-cause notices to 9 offshore crypto exchanges, including Binance and Kucoin, for non-compliance with local regulations. In 2023, former RBI Governor Shaktikanta Das also represented a critical stand against cryptocurrency in India. …

India reviewing crypto stance amid global policy shift: Report
1 month, 3 weeks ago

India reviewing crypto stance amid global policy shift: Report

India Today  

India is reviewing its stance on cryptocurrencies due to shifting attitudes towards virtual asset in other countries, a senior government official told Reuters on Sunday. He did not specifically mention the United States, where Trump last week ordered the creation of a cryptocurrency working group tasked with proposing new digital asset regulations and exploring the creation of a national cryptocurrency …

Why cryptocurrency exchanges struggle to provide crypto withdrawals for Indians | Explained
2 months ago

Why cryptocurrency exchanges struggle to provide crypto withdrawals for Indians | Explained

The Hindu  

The story so far: Mudrex, a crypto platform that is “US-headquartered and Bengaluru-based” made headlines this month when it announced it was temporarily pausing crypto withdrawals until January 28, to “enhance the security of our platform and safeguard against bad actors,” said the company in an official blog post on January 12. Gupta on January 15 acknowledged that while users …

Interview: Yesha Yadav on ABC of Donald Trump’s new crypto world
2 months ago

Interview: Yesha Yadav on ABC of Donald Trump’s new crypto world

Hindustan Times  

Washington: President-elect Donald Trump has promised a new era of cryptocurrency, with the industry expecting clearer and a more liberal regulatory structure. And what has happened over time is of course that Bitcoin as well as other cryptocurrencies have allowed for certain economies where the local marketplace is perhaps not as strong, where people don’t have faith in the domestic …

Indians Have Rejected Crypto. But 2025 Could Change That
3 months ago

Indians Have Rejected Crypto. But 2025 Could Change That

ABP News  

By AR Hemant The BankBazaar Moneymood 2025 survey report reveals a sharp decline in Indians’ interest in cryptocurrency. Of the salaried men and women surveyed in the study, only 12 per cent of Indians invested in crypto in 2024, compared to 32 per cent in 2022​. Taxation and Security Concerns Hurt Crypto The Indian government’s 30 per cent tax on …

Is Bitcoin legal in India? What you need to know before buying or selling it
3 months, 2 weeks ago

Is Bitcoin legal in India? What you need to know before buying or selling it

Hindustan Times  

Bitcoin is now all over the headlines having crossed the $100,000 mark over the period of time following crypto supporter Donald Trump's win in US presidential elections. Bitcoin as well as all other cryptocurrencies are legal in India with the Supreme Court ruling in favour of cryptocurrencies, lifting a ban imposed by the Reserve Bank of India prior. It is …

Mint Money Festival: Is it worth investing in cryptocurrencies, an unregulated asset class in India?
3 months, 3 weeks ago

Mint Money Festival: Is it worth investing in cryptocurrencies, an unregulated asset class in India?

Live Mint  

Imagine a fixed-income investment advisor who tried out crypto assets and then got converted. While Pande invested in crypto assets such as Bitcoin, Ethereum, Arbitrum and Uniswap, he continued his systematic investment plans in mutual funds, exchange traded funds and contributions to the National Pension System. It is an asset class for the young generation that understands technology, Ashish Singhal, …

Bitcoin, cryptocurrencies not legal in India
Trending News
4 months ago

Bitcoin, cryptocurrencies not legal in India

Deccan Chronicle  

New Delhi: Bitcoin and cryptocurrency are in news again after allegations were levelled against Congress's Maharashtra president Nana Patole and NCP 's Supriya Sule of being involved in "illegal bitcoin activities" to fund their poll campaign. - Cryptocurrency has no intrinsic value and is not redeemable for another commodity, such as gold - has no physical form and exists only …

Will Bitcoin's revival boost India's appetite for cryptos despite high taxes?
4 months, 1 week ago

Will Bitcoin's revival boost India's appetite for cryptos despite high taxes?

India Today  

Bitcoin has taken the financial world by storm once again, this time surging to a record-breaking $90,000 following Donald Trump's unexpected victory in the US presidential election. TRUMP'S IMPACT ON THE CRYPTO SURGE The crypto market has been riding a wave of optimism following Donald Trump's election as US president, with hopes that his administration will adopt a crypto-friendly stance. …

Want To Make The Most Of Your Crypto Investments? Here Are Some Handy Tips To Help You Out
8 months, 1 week ago

Want To Make The Most Of Your Crypto Investments? Here Are Some Handy Tips To Help You Out

ABP News  

The world of crypto investing is as exhilarating as it is unpredictable. Understanding Market Sentiment And On-Chain Metrics Market sentiment plays a crucial role in influencing crypto returns. For advanced investors, understanding more complex chart patterns like Head and Shoulders ; Cup and Handle ; and Fibonacci retracement levels can provide deeper market insights. Moreover, understanding tax implications, compliance requirements, …

The Art of A Good Unicorn | Curating a product market fit for your crypto startup
8 months, 3 weeks ago

The Art of A Good Unicorn | Curating a product market fit for your crypto startup

Hindustan Times  

So, cryptocurrencies, like Bitcoin, seem to have their highs and lows. Being a crypto entrepreneur in India could have Herculean challenges, because, from a regulatory perspective, it's a rocky relationship with crypto without much legitimacy. And if someone puts their hard-earned salary into crypto and something goes wrong, they may not be able to knock on the doors of regulators …

Crypto currencies have no underlying value, says RBI official
1 year, 1 month ago

Crypto currencies have no underlying value, says RBI official

The Hindu  

Crypto currencies cannot be referred to as "currencies" as they have no underlying value, a central bank official said. "Crypto currencies cannot be called currencies as they don't have any underlying value," P Vasudevan, an executive director at the RBI, said during a panel discussion organised by IIM-Kozhikode here. Ultimately it is a call that the government has to take …

Future Of Crypto In India: How Bitcoin ETFs, Regulatory Clarity Can Help
1 year, 6 months ago

Future Of Crypto In India: How Bitcoin ETFs, Regulatory Clarity Can Help

ABP News  

In recent times, the cryptocurrency industry has undergone a noteworthy transformation, evolving from a limited group of developers to a community that has fostered a trillion-dollar economy. By integrating cryptocurrencies into the existing anti-money laundering framework, India aims to enhance financial transparency and mitigate the risks associated with illicit activities in the crypto sector. The introduction of Bitcoin ETFs could …

Understanding the current state of crypto assets in India
1 year, 11 months ago

Understanding the current state of crypto assets in India

Live Mint  

It is a sweeping wave for some and a conundrum for others but crypto is the new buzzword in the world of investment finance. On the whole, the government seems to be accepting crypto and the underlying blockchain technology rather than casting them away as ‘risky’ or even ‘banning’ them. Banking is still not a breeze given RBI’s concerns The …

Navigating the complexities of crypto taxation in India
1 year, 11 months ago

Navigating the complexities of crypto taxation in India

Live Mint  

There is an adage which encapsulates the process of taxation, and it goes thus: the only two things certain in life are death and taxes. Navigating crypto from a tax angle We believe that Indian crypto investors can become tax compliant and plan their investments better by following certain principles. Building a crypto portfolio: India’s crypto tax regime does not …

Budget 2023: What Awaits The Crypto Sector? Everything You Need To Know
2 years, 2 months ago

Budget 2023: What Awaits The Crypto Sector? Everything You Need To Know

ABP News  

The 2023 Union Budget is nearly here and the biggest question that’s haunting the mind of crypto enthusiasts is simple — how will the Finance Ministry treat the virtual digital assets sector this time around? While 2022 saw several important milestones for the crypto sector, from the taxation of gains to the introduction of a central bank digital currency, the …

High tax on crypto may kill industry in India: Binance CEO
2 years, 4 months ago

High tax on crypto may kill industry in India: Binance CEO

Live Mint  

NEW DELHI: High taxes on cryptocurrency transactions in the country may “kill the industry” in India, Binance chief executive Changpeng Zhao said on Thursday. Addressing an event on the global fintech industry in Singapore, Zhao said the tax rate will likely be the cause for India’s crypto industry to be stifled. For instance, on WazirX, India’s largest crypto exchange by …

Crypto trading, user signups see jump in India on stable bitcoin
2 years, 5 months ago

Crypto trading, user signups see jump in India on stable bitcoin

Live Mint  

Indian crypto activity has seen a spike in recent weeks with trading volume and user signups witnessing a jump of up to 45% thanks to stable bitcoin price and weakness in the rupee. BuyUcoin has seen a spike of 40-45% in BTC-INR trading pair and a 30% jump in new user signups in the second quarter of the financial year …

Future Of Crypto: What India's Digital Coin Market May Look Like In 2047
2 years, 5 months ago

Future Of Crypto: What India's Digital Coin Market May Look Like In 2047

ABP News  

The cryptocurrency industry has grown from a small pool of developers to a community generating a trillion-dollar economy lately. Cryptocurrencies have now slowly started to emerge as a new investment class in India, as today's youth are also looking at crypto as a means to achieve financial freedom. Here is how the Indian crypto market is expected to shape up …

Kucoin survey india crypto market investors regulation tax hack concern growth sector
2 years, 7 months ago

Kucoin survey india crypto market investors regulation tax hack concern growth sector

ABP News  

KuCoin, a Seychelles-headquartered crypto exchange with over 10 million users in over 200 countries, has conducted a survey to offer a deep insight into the crypto sector of India, the world’s second-most populous nation. Titled “Into The Cryptoverse Report India”, the survey revealed that despite stringent taxation on gains from crypto, the Indian market is expected to reach $241 million …

Crypto india regulation tax income tds understand sector first why others should take note
2 years, 7 months ago

Crypto india regulation tax income tds understand sector first why others should take note

ABP News  

Cryptocurrencies have been in the spotlight ever since the Supreme Court removed the blanket ban on them in early 2020. India, despite being a late entrant, embraced the crypto world with open arms and today there are as many as 27 million Indians who hold crypto assets, largely from Tier II and Tier III cities. A close observation of the …

Crypto Tax In India: A Tale Of Control Or Caution?
2 years, 7 months ago

Crypto Tax In India: A Tale Of Control Or Caution?

ABP News  

Cryptocurrency gains face a tax of 30 percent in India. The taxation of cryptocurrencies is also considered a way to legitimise crypto assets in India, without banning them outright, allowing investors and traders to continue dealing with crypto without much worry. Compared to some countries, India’s tax structure might seem a little bit more relaxed, whereas compared to some other …

Crypto Winter, Tax Rules Cast Shadow on India Business; Can They Still be Called Safe?
2 years, 8 months ago

Crypto Winter, Tax Rules Cast Shadow on India Business; Can They Still be Called Safe?

News 18  

Indian investors had readily accepted cryptocurrency as a brilliant means to invest especially after the Bitcoin boom that happened a few years back. With its not-so-accepting approach to cryptocurrencies, the government during Budget 2022 inserted a new Section under the Income Tax Act, whereby income from virtual digital assets would be taxable at the rate of 30 per cent, while …

Crypto Tax Rule Makes Indian Investors Lose Interest as Trading Activity Falls: Survey
2 years, 8 months ago

Crypto Tax Rule Makes Indian Investors Lose Interest as Trading Activity Falls: Survey

News 18  

Crypto trading is experiencing a decline in its frequency due to the cryptocurrency tax regimes devised by the government of India for the digital assets, revealed a survey. Twenty-nine per cent of the total respondents said that their trading activity has decreased since the government introduced the new tax implementation system on cryptocurrency. The survey also suggested that going with …

Crypto tax in India explained: How much you may have to pay, tips to prepare
3 years, 1 month ago

Crypto tax in India explained: How much you may have to pay, tips to prepare

India Today  

India has nearly 15-20 million cryptocurrency with total crypto holdings of above $5 billion which shows vast interest among crypto investors. Crypto investors will have to pay 30 per cent tax on their profits. This 30 per cent tax on profit also takes into account a 1 per cent Tax Deducted at Source deposited by the facilitator, exchanges, or a …

Cryptocurrency to be banned in India? What we know so far
3 years, 1 month ago

Cryptocurrency to be banned in India? What we know so far

India Today  

The question over the legality of cryptocurrencies in India has garnered eyeballs, especially after the government's move to tax virtual digital assets. Apart from providing clarity on taxation on virtual digital assets, Union Finance Minister Nirmala Sitharaman and top officials of the government have given statements on the future of cryptocurrency in the country. The proposed bill TAXATION ON VIRTUAL …

Budget 2022: Implications of crypto tax regime on common investor
3 years, 1 month ago

Budget 2022: Implications of crypto tax regime on common investor

Firstpost  

After months of speculation and waiting, the crypto ecosystem finally has a nod from the Government of India albeit in terms of a tax regime. With crypto being accorded the highest tax slab for any asset class at 30 percent and the implementation of a 1 percent TDS on bigger trades, investors may feel the pinch if they react to …

Legal or not? India’s budget raises questions, hopes for crypto
3 years, 1 month ago

Legal or not? India’s budget raises questions, hopes for crypto

Al Jazeera  

Narendra Modi’s government plans to launch an official digital currency and begin taxing profits on cryptos. Narendra Modi’s government said during the budget announcement on Tuesday that it will launch an official digital currency and begin taxing profits earned on cryptocurrencies from the financial year 2022-2023. Even as Finance Minister Nirmala Sitharaman insisted cryptos could not be considered “currencies”, she …

Decoding the Crypto Tax – What Does it Mean for Investors?
3 years, 1 month ago

Decoding the Crypto Tax – What Does it Mean for Investors?

The Quint  

While experts are still weighing in on the hits and misses of Budget 2022 that was presented on 1 February, for a lot of India's millennials, it's the government's plans for cryptocurrencies that stand out. But a few months ago, news of the government planning to prohibit all private cryptocurrencies in a new bill had left many worried about their …

Budget 2022: What's next for crypto in India? Here's what industry says
3 years, 1 month ago

Budget 2022: What's next for crypto in India? Here's what industry says

India Today  

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2022-23 on Tuesday, proposed 30 per cent on profits earned from trading cryptocurrencies. On RBI's plan to launch digital currency, Gaurav said that it’s likely to succeed as India has a fast-growing web connectivity and a high number of people are already using digital transactions. Digital currency WazirX's COO Siddharth Menon …

Crypto revolution is here to stay. What about India’s regulatory stance
3 years, 2 months ago

Crypto revolution is here to stay. What about India’s regulatory stance

Live Mint  

Cryptocurrencies have caught attention as an asset class in the last few years and have gone mainstream on the back of their sharp rally despite famed for their volatility and uncertainties around regulations in many countries including India. India became the second-highest nation in terms of crypto adoption, and given the current purview, experts believe that 2022 might arguably see …

Regulating crypto assets in India
3 years, 2 months ago

Regulating crypto assets in India

Hindustan Times  

The Indian crypto asset industry has witnessed exponential growth over the last five years and today, the country reportedly has 15 million crypto asset holders that have put in Rs6.6 billion in these crypto asset holdings. This report seeks to bring clarity around crypto assets as a technology and make recommendations for the regulation of the Indian crypto asset market. …

Neither ban nor regulate crypto
3 years, 3 months ago

Neither ban nor regulate crypto

The Hindu  

“India has officially adopted bitcoin as legal tender,” tweeted the Prime Minister at 2 a.m. on December 12. For now, the Indian government must be explicit that India will never recognise cryptocurrencies as currency. The argument for regulating cryptocurrencies is the notion that millions of investors indulge in risky cryptocurrency trading which can cause losses, increase volatility, spur shadow finance …

The crypto phenomenon
3 years, 3 months ago

The crypto phenomenon

The Hindu  

A bulletin that announces issues to be discussed in the winter session of Parliament, which began in early December, had on its list the proposed cryptocurrency Bill. Following interviews with people knowledgeable on the subject, Frontline found that the collective opinion is that India should not lose out on this opportunity which, a crypto investor says, “is India’s Crypto moment”. …

Crypto Or Digital Tokens Should Be Treated As Securities Of Special Class, Says CII
3 years, 3 months ago

Crypto Or Digital Tokens Should Be Treated As Securities Of Special Class, Says CII

ABP News  

New Delhi: The Confederation of Indian Industries on Thursday in a statement said that crypto or digital tokens should be treated as securities of a special class, which means the provisions of exiting securities regulations will not apply, and a new set of regulations appropriate to the context should be evolved and applied. Those exchanges must be required to register …

Don’t ban cryptocurrencies, instead set up a regulatory body
3 years, 3 months ago

Don’t ban cryptocurrencies, instead set up a regulatory body

Firstpost  

The potential of crypto is enormous and banning it would be throwing the baby out with the bathwater Whether you are for or against bitcoins and cryptocurrencies, you cannot deny their importance as an evolution in money and banking. There are approximately 150-200 million crypto users worldwide and about 15-20 million in India, according to Nischal Shetty, CEO of WazirX. …

Some cryptocurrency firms in India see dip in new customer sign-ups
3 years, 3 months ago

Some cryptocurrency firms in India see dip in new customer sign-ups

India Today  

Indian cryptocurrency exchanges have witnessed a drop in the number of new individuals signing up on their platforms in light of the new cryptocurrency bill, which will be tabled during the Winter Session of Parliament. Potential cryptocurrency investors are staying put at the moment, due to a growing buzz that the government is planning to ban private cryptocurrencies with the …

Many crypto firms may look to exit India amid possibility of ban: Report
3 years, 3 months ago

Many crypto firms may look to exit India amid possibility of ban: Report

India Today  

Several cryptocurrency startups and blockchain-related startups may look to move out of India amid the possibility of a ban on virtual coins. While it is still not certain whether the government’s bill is aimed at enforcing a ban on cryptocurrencies, it has caused panic among Indian investors and businesses involving blockchain technology and virtual coins. Here's what experts say Speaking …

Bitcoin Ban in India: No Ban on Cryptocurrency, Govt May Bring Crypto Tax, Say Sources
3 years, 4 months ago

Bitcoin Ban in India: No Ban on Cryptocurrency, Govt May Bring Crypto Tax, Say Sources

News 18  

The central government may not go for a blanket ban on cryptocurrency in India, according to sources. The much-awaited cryptocurrency bill is likely to prohibit all the private cryptocurrencies in India, with certain exceptions, according to the bulletin mentioned in the Lok Sabha website. Tax on Cryptocurrency Cryptocurrencies are not taxed in India currently, but taxpayers do need to declare …

Is Cryptocurrency Legal in India? Crypto Bill, Private Cryptos, all Questions Answered
3 years, 4 months ago

Is Cryptocurrency Legal in India? Crypto Bill, Private Cryptos, all Questions Answered

News 18  

With more and more people investing in popular Bitcoin and relatively lesser know Shiba Inu, all thanks to Elon Musk probably, cryptocurrency craze has indeed gripped India. While new age investors, especially millennials, taking to crypto with such gusto, the million dollar question is right now — is cryptocurrency legal in India? To mend this lack of regulatory framework in …

What is cryptocurrency row all about as India heads to have a law?
3 years, 4 months ago

What is cryptocurrency row all about as India heads to have a law?

India Today  

The world of money is changing with a strong push for private currency in the form of cryptocurrency. India’s is one such government that is bringing a law to regulate cryptocurrency, which is till date unregulated in the country with a growing investment in this form of currency. This is a whole new world of currency, much different from the …

How safe is India’s crypto gold rush for ordinary investors? | In Focus podcast
3 years, 4 months ago

How safe is India’s crypto gold rush for ordinary investors? | In Focus podcast

The Hindu  

These days, if you turn on the TV, there is no escaping the flood of However, the government has allowed this sector to mushroom in a regulatory vacuum. How real are the risks for investors putting their money into an unregulated ‘asset class’? And how likely is it that we can transition to a regulated ecosystem without some pain to …

Crypto Ban Unlikely in India, but Government to Discourage Trade: See Details of Plan
3 years, 4 months ago

Crypto Ban Unlikely in India, but Government to Discourage Trade: See Details of Plan

News 18  

The cryptocurrency market has been blooming silently in India over the past several months and after repeated concerns raised by the Reserve Bank of India, the Centre has taken note of the issue. This is because the government wants to evolve as the world changes everyday, Prime Minister Narendra clearly said during a virtual keynote address at the Sydney Dialogue …

Bitcoin Ban in India: What Experts Say on Crypto Future in Country Amid Govt Plans
3 years, 4 months ago

Bitcoin Ban in India: What Experts Say on Crypto Future in Country Amid Govt Plans

News 18  

India has recently taken a more keen note on cryptocurrencies, thanks to its robust growth in the country amid a lack of regulations. On Thursday, November 18, Prime Minister Narendra Modi said cryptocurrencies must not fall into the “wrong hands and spoil our youth”, urging all democratic nations to come together and ensure things like these do not happen. Speaking …

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