Articles for Crypto Exchanges

28 virtual digital asset service providers register with Centre
1 year ago

28 virtual digital asset service providers register with Centre

Deccan Chronicle  

New Delhi: The government on Monday declared that as many as 28 virtual digital assets or VDA service providers, including WazirX, Coin DCX and Coin Switch, have registered themselves with the Financial Intelligence Unit-India. As per the finance ministry, entities dealing in VDAs, crypto exchanges and intermediaries would be considered ‘reporting entity’ under the Prevention of Money Laundering Act. To …

Vda Crypto Exchanges
One year after FTX imploded, here’s how crypto is changing
1 year, 1 month ago

One year after FTX imploded, here’s how crypto is changing

Live Mint  

For many who trade cryptocurrencies for a living, the events of a year ago are forever etched in memory. “The industry still primarily offers assets that can be made up out of thin air with values that are eminently manipulable,” said Hilary Allen, a law professor at American University Washington College of Law who has written about crypto’s impact on …

Industry Crypto Bitcoin Sec Binance Recent Months Exchanges
Explained | Why is the U.S. SEC cracking down on crypto exchanges?
1 year, 6 months ago

Explained | Why is the U.S. SEC cracking down on crypto exchanges?

The Hindu  

The story so far: The U.S. Securities and Exchange Commission is cracking down on cryptocurrency exchanges. Binance stressed its intention to defend itself “vigorously.” It pointed out that as a U.S. regulator, the SEC’s control over the trading platform was limited because Binance was not a U.S. company. “Any allegations that user assets on the Binance.US platform have ever been …

Cryptocurrency Crypto Trading Bitcoin Securities Investors Sec
Navigating the complexities of crypto taxation in India
1 year, 8 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 …

Tax Investors Sector Investor Tds Exchanges Crypto Exchanges
Centre Applies Norms Of "Reporting Entities" Under Prevention Of Money Laundering Act To Cryptocurrency Exchanges
1 year, 9 months ago

Centre Applies Norms Of "Reporting Entities" Under Prevention Of Money Laundering Act To Cryptocurrency Exchanges

Live Law  

The Ministry of Finance has notified that cryptocurrency exchanges will be “persons carrying on designated businesses or professions” within the meaning of Section 2 of the Prevention of Money Laundering Act. This means that crypto exchanges will come within the definition of "reporting entity" within the meaning of Section 2 of the PMLA. As a consequence, crypto exchanges should follow …

Digital Pmla Virtual Money Laundering Act Virtual Digital Assets Crypto Exchanges Centre Applies
Parliament Winter Session Live Updates
2 years ago

Parliament Winter Session Live Updates

The Hindu  

The third working week of the Winter Session of Parliament kicked off today morning. The House is now hearing Special Mentions, discussion on Appropriation Bills to continue tomorrow Lok Sabha | 5.00 p.m. Members continue discussion on The Constitution Order Bill, 2022 NCP MP from Baramati Supriya Sule sought that the government consider according to reservation to the Dhangar community …

Finance India China Karnataka Tamil Nadu Delhi Bihar
Binance Has a Cunning Plan to Save Crypto—but It’s Too Late
2 years, 1 month ago

Binance Has a Cunning Plan to Save Crypto—but It’s Too Late

Wired  

Few were prepared for the dramatic collapse of crypto exchange FTX on November 11. “The weak projects are gone, and the industry is much healthier.” Zhao, who goes by CZ, says he has a plan to navigate the fallout of the FTX saga and rebuild trust. With one of Binance’s main competitors no longer in operation, the company’s voice as …

Ftx Binance Crypto Exchanges
One of Crypto’s Giants Just Fell
2 years, 1 month ago

One of Crypto’s Giants Just Fell

Slate  

Update, Nov. 9, 2022, at 4:32 p.m.: Binance has reportedly dropped its bid to acquire FTX, citing a due diligence review that revealed FTX’s “mishandled customer funds and alleged U.S. agency investigations.” “The issues are beyond our control or ability to help,” Binance told the Wall Street Journal. Tuesday morning—following reports that 1) FTX’s in-house token was crashing in value; …

Bitcoin Value Twitter Binance Zhao Eth Ftt
How Binance CEO Changpeng Zhao and aides plotted to dodge regulators in U.S. and UK
2 years, 2 months ago

How Binance CEO Changpeng Zhao and aides plotted to dodge regulators in U.S. and UK

The Hindu  

As 2022 dawned, Changpeng Zhao was riding high. After this article was published, Zhao said in a blog post that he "personally rejected" the 2018 plan to insulate Binance from U.S. regulators. Two weeks earlier, Zhao told an interviewer that Yi He had been "integral to Binance's success" and would be an "integral part of our continued growth." Zhao's personal …

China Compliance Crypto Treasury Company White Chinese
Crypto Exchanges Under Scanner: CoinSwitch, CoinDCX Get ED Notices Over FEMA Violation, Say Sources
2 years, 5 months ago

Crypto Exchanges Under Scanner: CoinSwitch, CoinDCX Get ED Notices Over FEMA Violation, Say Sources

News 18  

The Enforcement Directorate, continuing its crackdown on cryptocurrency firms, has sent notices to crypto exchange companies CoinSwitch and CoinDCX as they allegedly came under the central agency’s radar. The notices against CoinSwitch and other platforms have been sent by the ED over the alleged violation of the Foreign Exchange Management Act, the abovementioned sources told News18. As per a statement …

Fema Foreign Sent Coinswitch Crypto Exchanges
Indian investors lose ₹1,000 crore in fake crypto exchanges: Report
2 years, 6 months ago

Indian investors lose ₹1,000 crore in fake crypto exchanges: Report

Live Mint  

Crypto scammers are using a wide range of techniques, including identity scams and phishing, to lure users into investing through fake crypto exchanges. Investors in India have lost as much as ₹1,000 crore in such scams that have spread through social media portals, according to a report by Indian cyber security firm, CloudSEK. According to the report, the scam involves …

India Scams Crypto Indian Report Platform Users
Binance to hire 2,000 employees even as other crypto exchanges cut jobs
2 years, 6 months ago

Binance to hire 2,000 employees even as other crypto exchanges cut jobs

The Hindu  

Binance on Wednesday said it plans to hire 2,000 people amid reports of other crypto exchanges letting their employees go. Zhao’s statement comes a day after crypto exchange Coinbase said it is laying off about 18% of its staff, nearly 1,100 employees, citing “economic downturn”. Other crypto exchanges which decided to lay off employees include BlockFi, which announced it would …

Crypto Coinbase Binance Other Crypto Exchanges
Weighing whether cryptocurrency, sports and fans are a good combination
2 years, 7 months ago

Weighing whether cryptocurrency, sports and fans are a good combination

New York Times  

Cryptocurrencies and the exchanges they trade on have been a runaway gravy train in sports in the past year, with athletes hawking them in ads, teams entering partnerships, arenas inking naming rights deals and even umpires wearing logos. Arthur Solomon, a former executive at global public relations firm Burson-Marsteller, termed crypto endorsements by teams, leagues and athletes a “disservice” because …

Fans Money Team Bitcoin Teams Risk League
Crypto Exchanges Now Required to Store KYC Data for 5 Years. Is it a Yay or Nay from the Industry?
2 years, 7 months ago

Crypto Exchanges Now Required to Store KYC Data for 5 Years. Is it a Yay or Nay from the Industry?

News 18  

In a bid to enhance India’s cybersecurity and crypto infrastructure, the Indian Computer Emergency Response Team has mandated all Virtual Private Network providers and crypto exchanges to maintain customer data record for up to five years. It is heartening to see the government bring about clarity progressively to the crypto world.” “With the ASCI setting guidelines for crypto ads, the …

India Data Compliance Crypto User Exchanges Crypto Exchanges
Budget 2022: Cryptocurrency sector riddled with bottlenecks; time to bring policy change
2 years, 10 months ago

Budget 2022: Cryptocurrency sector riddled with bottlenecks; time to bring policy change

Firstpost  

Union Budget 2022-23: The finance minister should consider formulating policies to leverage growth from emerging technology such as blockchain tech which serves as the backbone of crypto The cryptocurrency sector in India is riddled with regulatory bottlenecks which makes it challenging to operate retail businesses. Given that crypto exchanges will have to undertake operations to keep markets from turning illiquid, …

India Industry Crypto Sector Clear Exchanges Exchange
Crypto investing is alive and well in Turkey, thanks to lira woes
2 years, 11 months ago

Crypto investing is alive and well in Turkey, thanks to lira woes

Al Jazeera  

Despite a government crackdown and high-profile exchange collapses last year, Turks are flocking to crypto as a hedge against lira distress. Turan Sert, an adviser for Paribu, Turkey’s largest online crypto exchange, said the heightened awareness underscores how crypto is increasingly replacing foreign currency or traditional stores of value like gold as a hedge against a local currency whose value …

Bitcoin Cryptocurrencies Value Million Turkish Lira Turks
Govt may not ban cryptocurrencies, regulation likely: Reports
3 years ago

Govt may not ban cryptocurrencies, regulation likely: Reports

India Today  

Cryptocurrencies may not be completely banned in India and the government may create a framework to regulate highly risky virtual assets, as per multiple reports. The development comes at a crucial time as the government’s upcoming cryptocurrency bill has spooked investors and other stakeholders. Read | Cryptocurrency Bill: Raining on India's crypto parade A few days ago, Finance Minister Nirmala …

India Cryptocurrency Assets Ban Bill Crypto Exchanges
Cryptocurrency is a Bogey that Indian Govt Needs to Ban, Not Regulate
3 years, 1 month ago

Cryptocurrency is a Bogey that Indian Govt Needs to Ban, Not Regulate

News 18  

When it comes to preventing scrutiny, the trick of the trade is to seek regulations. First of all, crypto tokens as an investment or masquerading as a currency and crypto exchanges facilitating this investment are not technology — they are merely products based on a common concept, blockchain — even if they using different hashing technologies for encryption. National interest …

Technology India Investment Products Regulations Digital Investors
Nigeria’s crackdown on Bitcoin echoes global crypto conundrum
3 years, 8 months ago

Nigeria’s crackdown on Bitcoin echoes global crypto conundrum

Al Jazeera  

The backlash against a Nigerian central bank directive on cryptocurrencies echoes a dilemma facing governments around the world: how to regulate Bitcoin and other cryptocurrencies without stifling innovation. Lagos, Nigeria – When the Central Bank of Nigeria issued a circular in early February warning banks and financial institutions that “facilitating payments for cryptocurrency exchanges is prohibited” and that they needed …

Money Cryptocurrency Crypto Nigeria Bitcoin Cryptocurrencies Nigerian
Bitcoin backlash: Iran cracks down on crypto exchanges
3 years, 9 months ago

Bitcoin backlash: Iran cracks down on crypto exchanges

Al Jazeera  

The current hawkish stance by Iranian officials against the country’s crypto sector comes in the wake of bitcoin’s meteoric price rise since mid-December, feeding a growing appetite in Iran for crypto assets after the country’s stock bubble burst last summer. The current hawkish stance comes in the wake of bitcoin’s meteoric price rise since mid-December, feeding a growing appetite in …

Market Crypto Iran Stock Cryptocurrencies Iranian Iranians
Cryptocurrency And Regulation Of Official Digital Currency Bill, 2021 And Legal Framework Ahead
3 years, 10 months ago

Cryptocurrency And Regulation Of Official Digital Currency Bill, 2021 And Legal Framework Ahead

Live Law  

A dubious concern in the banking finance sector in India today is the debate over according legal status to crypto/virtual currencies. However, it was also held that RBI has inherent powers to regulate the dealing and trading of CCs in the interest of the banking system, monetary stability and sound economic growth. The Crypto Bill seeks to ban all private …

India Trade Regulation Crypto Trading Digital Currency
Investing in bitcoin? Keep this in mind before selecting a crypto exchange
3 years, 11 months ago

Investing in bitcoin? Keep this in mind before selecting a crypto exchange

Live Mint  

After jumping nearly four times in 2020, bitcoin has been on a tear this year with prices soaring past the $37,000 level on Thursday. “As most Indian crypto exchanges disclose their order book, it does not take much time to evaluate them by doing a side by side comparison of the current state of their order book,” said Ajeet Khurana, …

India Crypto Indian Order Buy Investor Exchanges
What Bitcoin’s new record means for wall street
4 years ago

What Bitcoin’s new record means for wall street

Live Mint  

Bitcoin’s true believers are taking a victory lap after the cryptocurrency’s fresh all-time high of almost $20,000. We’ve seen big banks seek to make money from Bitcoin without handling it directly, reflecting fairly limited client demand and a lack of regulatory clarity. Morgan Stanley began clearing cash-settled Bitcoin futures in 2018, while JPMorgan this year adopted crypto exchanges Coinbase Inc. …

Money Bitcoin Banks Dimon Jpmorgan Jpm Crypto Exchanges