News
India’s Central Bureau of Investigation is conducting nationwide raids in connection with the GainBitcoin scam, which defrauded 8,000 investors with false Bitcoin returns.
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India News
India today is no stranger to the concept of Bitcoin (BTC) and cryptocurrency. Home to over 1 billion people, the South Asian country touts a population rivaling that of China. India, officially known as the Republic of India, is the second-largest country by population after China. The industry of cryptocurrency in India today still shows a country that is uncertain about the asset class.
In India, government bodies have discussed the country’s stance on cryptocurrencies for years. Although headlines have mentioned various possible cryptocurrency-related bans and regulatory moves — with people often asking, “Is Bitcoin legal in India?” — the country has yet to officially outlaw crypto on the whole. Companies focused on digital assets could not work with banks for a time, thanks to a 2018 ruling from the Reserve Bank of India, or RBI — the country’s central bank — but those restrictions were removed in 2020.
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Cryptocurrency exchange Bybit has announced its comeback to India after registering with authorities in the country.
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Indian authorities have seized nearly $190 million worth of crypto tied to the notorious BitConnect Ponzi scheme, which collapsed in 2018.
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Coinbase is in talks with Indian regulators to reenter the market after its 2023 exit as the FIU eases its stance on offshore crypto exchanges.
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India’s financial regulator has fined Bybit $1 million for failing to register under the Prevention of Money Laundering Act, leaving its compliance status unclear.
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WazirX warns creditors that repayments could be delayed until 2030 if they reject its restructuring plan, which was recently approved by the High Court of Singapore.
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Uphold resumes staking in the UK post-regulatory changes, India signals a potential crypto policy shift and Kraken prepares to delist USDT in Europe.
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The Indian government has a reputation for being harsh on crypto, but a regulatory sea change in the United States may cause a pivot.
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India will impose tax penalties of up to 70% on undisclosed crypto gains as part of new regulations under Section 158B of the Income Tax Act.
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Union IT Minister Ashwini Vaishnaw said he is not worried about US export controls on high-performance computing chips from Nvidia.
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Jio launches JioCoin on the Polygon network, sparking community speculation about its use cases.
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Reliance Jio will collaborate with Polygon Labs to bring blockchain innovations to its 450 million users in India.
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NFT trading plummeted in 2024, falling 19% in volume and 18% in sales, with prices and volatility on the rise.
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Indian Railways has partnered with Chaincode Consulting to issue NFT-based tickets for the MahaKumbh Mela festival, integrating with the Polygon blockchain for scalability.
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Indian crypto exchange Mudrex has halted withdrawals until Jan. 28 for compliance updates, triggering user backlash and skepticism in the community.
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