Cryptocurrency India Weekly

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FM Nirmala Sitharaman Sees Revenue Potential in Crypto Mar 13, 2022

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Here are the top cryptocurrency news headlines from India this week:
Finance Minister Nirmala Sitharaman says the government sees revenue potential in crypto: https://inc42.com/buzz/indians-see-future-in-crypto-we-see-possibility-of-revenue-fm-sitharaman/ ;
Polygon co-founder Sandeep Nailwal calls out crypto brain drain in India: https://www.ndtv.com/business/crypto-brain-drain-is-absolutely-crazy-in-india-says-polygon-co-founder-2816532 ;
BearTax raises $3.2 million in a seed round: https://coincrunch.in/2022/03/08/beartax-raises-3-2-million-in-seed-round/ ;
Blockchain courses are booming in India: https://finbold.com/blockchain-courses-skyrocket-in-india-as-demand-for-experts-increases/ ;
Hyderabad businessman duped of Rs 73 lakhs in a crypto scam: https://coincrunch.in/2022/03/11/hyderabad-businessman-duped-of-inr-73l-in-crypto-scam/ ;
CoinDCX partners with BITS Pilani: https://coincrunch.in/2022/03/09/coindcx-partners-with-bits-pilani/ ;
WazirX completes 7th quarterly WRX burn: https://wazirx.com/blog/wazirx-completes-7th-quarterly-wrx-burn/ ;
Zebpay lists Litecoin (LTC), SXP, WRX, Avalanche (AVAX), Curve DAO Token (CRV), The Graph (GRT), Alchemy Pay (ACH), Cardano (ADA), Amp (AMP), Adventure Gold (AGLD) and Fantom (FTM) in its INR market through the QuickTrade feature.

India’s wealthiest added crypto to their portfolios in 2021+India’s tax policy poses hurdles for crypto donations to Ukraine Mar 06, 2022

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Here are the top cryptocurrency news headlines from India this week:
India’s ultra-high-net-worth individuals added crypto to their portfolios in 2021: https://www.indiatoday.in/technology/news/story/ultra-rich-indians-have-mixed-feelings-about-cryptocurrency-nft-investments-1919792-2022-03-02 ;
India’s tax policy poses hurdles for crypto donations to Ukraine during the ongoing war: https://qz.com/india/2134674/crypto-donations-for-ukraine-from-india-is-unfeasible/ ;
Tech Mahindra announces entry into the metaverse with the launch of TechMVerse: https://www.livemint.com/companies/news/tech-mahindra-forays-into-metaverse-with-launch-of-techmverse-11646041078776.html ;
India’s Narcotics Control Bureau hiring experts to track crypto transactions: https://theprint.in/india/ncb-to-hire-financial-experts-forensic-auditors-to-probe-dark-web-crypto-aided-drugs-crimes/854763/ ;
Radhe Shyam movie trailer released in the metaverse: https://coincrunch.in/2022/03/03/radhe-shyam-movie-trailer-launches-on-metaverse/ ;
Crypto payment gateway Transak expands into India: https://www.cnbctv18.com/cryptocurrency/crypto-payment-gateway-transak-expands-into-india-to-help-users-directly-buy-crypto-using-indian-rupee-12674502.htm ;
FTX Gaming announces partnership with the India arm of Yield Guild Games for Web3 gaming projects: https://inc42.com/buzz/ftx-gaming-partners-with-yggs-india-unit-indigg-for-web3-and-crypto-gaming/ ;
Delhi man held for duping people of Rs 84 lakhs with a crypto scheme: https://coincrunch.in/2022/03/02/delhi-man-held-for-duping-people-of-%e2%82%b984l-with-a-crypto-scheme/ ;
CoinDCX listed Chingari app’s GARI token on its platform: https://www.businesstoday.in/crypto/story/gari-announces-listing-on-indias-cryptocurrency-exchange-coindcx-324527-2022-03-02 ;
WazirX to deduct 30% TDS on competition prizes: https://coincrunch.in/2022/03/05/wazirx-to-deduct-30-tds-on-competition-prizes/ ;
Bitbns will implement CryptoWire’s IC 15 Index on its platform: https://www.livemint.com/market/cryptocurrency/indias-first-crypto-index-ic15-to-be-traded-on-bitbns-exchange-soon-11646129287269.html ;

Crypto investors spooked by the market pullback triggered by the Russia-Ukraine war+ ASCI releases advertising guidelines for crypto Feb 27, 2022

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Here are the top cryptocurrency news headlines from India this week:
India’s crypto investors spooked by the market pullback triggered by the Russian invasion of Ukraine: https://economictimes.indiatimes.com/tech/technology/spectre-of-crypto-winter-spooks-all/articleshow/89806536.cms ;
ASCI releases advertising guidelines for crypto: https://www.coindesk.com/policy/2022/02/23/indias-crypto-advertising-guidelines-are-out/ ;
Supreme Court asks the government to clarify its stance on crypto: https://timesofindia.indiatimes.com/india/is-bitcoin-trading-legal-or-illegal-sc-asks-govt/articleshow/89838013.cms ;
Indian banks have still not warmed up to crypto transactions: https://www.deccanherald.com/business/business-news/indian-banks-yet-to-warm-up-to-crypto-transactions-1084802.html ;
Indian exchanges shifting base to crypto-friendly jurisdictions such as UAE and Singapore: https://www.ndtv.com/business/how-uae-and-singapore-are-turning-into-crypto-hubs-withindian-exchanges-moving-base-2784664 ;
IAMAI holds NFT conference: https://www.coindesk.com/markets/2022/02/24/first-mover-asia-india-crypto-firms-regulators-continue-their-regulatory-debate-bitcoin-recovers-from-a-post-invasion-freefall/ ;
Infosys launches Infosys Metaverse Foundry: https://www.prnewswire.com/in/news-releases/launching-infosys-metaverse-foundry-service-to-accelerate-enterprises-ability-to-evolve-and-execute-strategies-for-virtual-physical-interconnections-814663769.html ;
Airtel acquires stake in blockchain startup Aqilliz: https://www.dqindia.com/airtel-acquires-strategic-stake-in-blockchain-technology-startup-aqilliz/ ;
US-based blockchain firm Cion Digital to expand in India: https://www.dqindia.com/us-based-saas-blockchain-cion-digital-to-expand-in-india/ ;
Nagpur police seizes assets worth Rs 40 crore in connection to a crypto scam: https://inc42.com/buzz/nagpur-police-seizes-assets-worth-inr-40-cr-in-crypto-scam-duping-2k-investors/ ;
New Crypto Scams in India: https://coincrunch.in/2022/02/21/new-day-new-crypto-scams-in-india/ ;
WazirX to release tools for entrepreneurs to build their own cryptocurrency exchanges;
Zebpay lists 22 new tokens in its INR market through its QuickTrade feature;

New cryptocurrency tax rules helping exchanges onboard more users+Indian crypto industry representatives meet Finance Ministry officials Feb 20, 2022

Show notes

Here are the top cryptocurrency news headlines from India this week:
New crypto tax rules helping exchanges onboard more users: https://www.livemint.com/market/cryptocurrency/indias-crypto-tax-turned-out-to-be-a-blessing-for-leading-exchanges-like-wazirx-11645090280257.html ;
Indian crypto industry representatives meet Finance Ministry officials to make them reconsider aspects of the new tax framework: http://www.businessworld.in/article/Indian-Cryptocurrency-Sector-s-Collective-Effort-For-Regulation-/14-02-2022-420510/ ;
Indian exchanges scramble to implement crypto tax rules by the April 1st deadline: https://forkast.news/indian-exchanges-implement-crypto-tax/ ;
Finance Minister Nirmala Sitharaman says the ministry and RBI are on the same page on crypto rules: https://www.coindesk.com/policy/2022/02/14/indian-finance-minister-says-rbi-on-board-with-new-crypto-rules/ ;
RBI Deputy Governor T Rabi Sankar bats for a crypto ban: https://techcrunch.com/2022/02/15/india-central-bank-cryptocurrency-ponzi-banning/ ;
ICAI to explore the use of blockchain tech in auditing: https://economictimes.indiatimes.com/industry/services/consultancy-/-audit/icai-to-explore-use-of-blockchain-tech-in-auditing/articleshow/89634722.cms ;
CoinDCX partners with Solidus Labs to enhance anti-money laundering protection: https://www.livemint.com/technology/coindcx-partners-solidus-labs-to-protect-users-from-crypto-market-abuses-11645278995219.html ;
WazirX lists Theta Fuel (TFUEL) in its INR market and JasmyCoin (JASMY) in its USDT market;
Zebpay lists 24 tokens through its QuickTrade feature;

FM Nirmala Sitharaman says government has not legalized crypto+BACC likely to present a memorandum to the finance ministry on new tax rules Feb 13, 2022

Show notes

Here are the top cryptocurrency news headlines from India this week:
Finance Minister Nirmala Sitharaman says government has not legalized crypto yet: https://economictimes.indiatimes.com/news/economy/policy/will-decide-of-banning-or-not-banning-crypto-currency-later-taxing-transactions-doesnt-legitmise-it-fm-nirmala-sitharaman-in-rs/videoshow/89498905.cms ;
Crypto Industry stakeholders likely to present a memorandum to the finance ministry about the new tax rule: https://www.businesstoday.in/crypto/story/indias-cryptocurrency-industry-likely-to-take-up-tax-rule-revision-with-finmin-321783-2022-02-07 ;
RBI Governor Shaktikanta Das continues attack on crypto saying that it’s not even a tulip: https://www.bloomberg.com/news/articles/2022-02-10/india-s-central-bank-chief-says-crypto-is-not-even-a-tulip ;
Polygon raises $450 million in new funding round: https://cointelegraph.com/news/polygon-raises-450m-in-sequoia-led-funding-round ;
Instadapp founders Sowmay and Samyak Jain recognized in the Forbes 30 under 30 list: https://www.forbesindia.com/article/30-under-30-2022/sowmay-and-samyak-jain-disrupting-the-crypto-ecosystem-with-defi/73529/1 ;
Tech Mahindra the only Indian company in the Forbes’ Blockchain 50 List: https://www.indiainfoline.com/article/news-sector-information-technology/tech-mahindra-emerges-as-the-only-indian-company-in-the-forbes%E2%80%99-blockchain-50-list-122021100460_1.html ;
CoinSwitch Kuber launches Recurring Buying Plan (RBP) feature;
ZebPay’s lists BitTorrent (BTTC), Basic Attention Token (BAT), Decentraland (MANA), Chainlink (LINK), EOS (EOS), and 1inch (1INCH) through QuickTrade feature: https://zebpay.com/blog/zebpays-launches-bttc-bat-mana-link-eos-1inch/ ;
WazirX lists Numeraire (NMR), Alchemy Pay (ACH), and Spell Token (SPELL) in its USDT market and Dusk Network (DUSK) and Quant (QNT) in its INR market;
Bitbns makes ERC20, BEP20, and MATIC20-based token withdrawals live;
Giottus launches crypto baskets and SIP feature: https://economictimes.indiatimes.com/markets/cryptocurrency/giottus-launches-theme-crypto-baskets-for-sip-investors/articleshow/89499415.cms ;
CoinDCX lists OpenDAO (SOS) and Constitution DAO (PEOPLE);

India announces 30% tax on virtual digital assets in Budget 2022+Indian crypto community rallies against the high crypto tax with a petition Feb 06, 2022

Show notes

Here are the top cryptocurrency news headlines from India this week:
India announces 30% tax on crypto in Budget 2022: https://www.coindesk.com/policy/2022/02/01/india-to-levy-30-tax-on-crypto-income-cbdc-launch-in-2022-23/ ;
Cryptocurrency Tax in Budget 2022 Explained in Detail: https://www.youtube.com/watch?v=mkqNdCwFX6s&t=1137s ;
Crypto tax discussion with tax expert Anoush Bhasin, Crypto India Founder Aditya Singh, and Coin Crunch India Naimish Sanghvi: https://www.youtube.com/watch?v=Kyyt_eq-tz0&t=2231s ;
Indian crypto community rallies against the high crypto tax with a petition: https://www.youtube.com/watch?v=lqfWdnz8cfo&t=4s ;
India’s crypto bill will not be tabled in the Budget session of the Parliament: https://news.bitcoin.com/government-official-indian-crypto-policy-global-regulations-g20-meeting/ ;
WazirX founder Nischal Shetty announces new blockchain venture called Shardeum: https://inc42.com/buzz/cryptopreneurs-nischal-shetty-and-omar-syed-launch-blockchain-venture-shardeum/ ;
Pune couple holds India’s first blockchain wedding: https://indianexpress.com/article/trending/trending-in-india/pune-pair-becomes-indias-first-couple-to-hold-blockchain-wedding-7758388/ ;
Pune cop arrested for kidnaping trader to extort crypto: https://www.ndtv.com/india-news/pune-bitcoin-fraud-pune-bitcoin-fraud-news-8-arrested-for-kidnapping-man-to-extort-crypto-worth-rs-300-crores-2743871 ;
WazirX lists Santos FC (SANTOS), FC Porto (PORTO) and S.S. Lazio (LAZIO) Fan Tokens in its USDT market and Biconomy (BICO) in its INR and USDT market;
CoinDCX lists Spell Token (SPELL) on its platform;
Unocoin releases revamped website along with an advanced exchange page;

Budget 2022 may levy TDS and TCS on crypto transactions+HNIs moving crypto assets abroad amidst regulatory uncertainty Jan 30, 2022

Show notes

Here are the top cryptocurrency news headlines from India this week:
Budget 2022 may levy TDS and TCS on crypto transactions: https://gadgets.ndtv.com/cryptocurrency/features/union-budget-2022-cryptocurrency-bill-bitcoin-crypto-taxes-cbdc-2730115 ;
HNIs moving crypto assets abroad amidst regulatory uncertainty: https://economictimes.indiatimes.com/tech/tech-bytes/hnis-shifting-cryptocurrency-assets-to-wallets-outside-india/articleshow/89127639.cms ;
Extreme volatility takes crypto trading volumes to new high: https://economictimes.indiatimes.com/tech/tech-bytes/extreme-volatility-takes-crypto-trade-volumes-to-new-high/articleshow/89127739.cms ;
Exchanges and influencers fall prey to a YouTube hack: https://inc42.com/buzz/cryptocurrency-startups-wazirx-coindcx-unocoins-youtube-accounts-hacked/ ;
Indian crypto startup Flint raises $5.1 million in seed funding: https://inc42.com/buzz/crypto-startup-flint-raises-5-1-mn-seed-funding-from-sequoia-coinbase-ventures/
WazirX makes major changes to its trading fee structure: https://support.wazirx.com/hc/en-us/articles/4417996196634 ;
WazirX lists listed Anyswap (ANY) and Glimmer (GLMR) in its USDT market and Cream Finance (CREAM) and Ooki Protocol (OOKI) in its INR market;
Zebpay lists Harvest Finance (FARM) in its INR and USDT market;
CoinDCX exchange lists Oasis (Rose);

Crypto Industry eagerly awaits Budget 2022+Crypto investors spooked by the latest market crash Jan 23, 2022

Show notes

Here are the top cryptocurrency news headlines from India this week:
Crypto Industry eagerly awaits Budget 2022: https://www.coindesk.com/policy/2022/01/21/indias-crypto-industry-has-great-expectations-from-the-new-budget/ ;
Crypto bill likely to miss the Budget session of the Parliament: https://economictimes.indiatimes.com/news/economy/policy/crypto-bill-likely-to-miss-budget-session-as-govt-seeks-time-to-build-consensus/articleshow/88962285.cms ;
PM Modi calls for global cooperation on crypto: https://www.coindesk.com/policy/2022/01/17/indian-prime-minister-calls-for-global-cooperation-on-cryptocurrency/ ;
Indian crypto investors spooked by the latest crash: https://economictimes.indiatimes.com/tech/technology/crypto-investors-feel-the-jitters/articleshow/89062652.cms ;
Why is the cryptocurrency market going down? What should investors do during the crypto price crash?: https://www.youtube.com/watch?v=ZIrvW-OIjS0&t=277s ;
Indian crypto industry may update self-regulatory code of conduct: https://economictimes.indiatimes.com/tech/tech-bytes/indias-cryptocurrency-sector-likely-to-update-code-of-conduct/articleshow/88983918.cms ;
Viacom18 to launch NFT marketplace: https://coincrunch.in/2022/01/20/viacom18-to-launch-nft-marketplace/ ;
Tamil Nadu couple to host wedding reception in the metaverse: https://indianexpress.com/article/trending/trending-in-india/tamil-nadu-couple-to-host-wedding-reception-in-metaverse-7728255/ ;
Millions of Indians visiting crypto scam websites: https://news.bitcoin.com/crypto-scam-websites-millions-indians-chainalysis/ ;
New malware targetting Indian crypto wallets: https://indianexpress.com/article/technology/crypto/new-bhunt-malware-targets-your-crypto-wallets-and-passwords-7736926/ ;
CoinDCX lists Nervos Network (CKB) and Standard Tokenization Protocol (STP);
WazirX introduces Collector Referrals on the WazirX NFT Marketplace;
Zebpay lists the Spell Token (SPELL) and Chromia (CHR) in its INR and USDT market, and GARI token in its INR market through the express listing initiative;
CoinSwitch Kuber lists Keep Network (KEEP) and Chromia (CHR);
Bitbns lists the GARI token on its platform.

Indian crypto community seeks tax clarity in Budget 2022+Digital tokens given by exchanges to employees under tax scrutiny Jan 16, 2022

Show notes

Here are the top cryptocurrency news headlines from India this week:
Indian Crypto community seeks tax clarity in Budget 2022: https://ambcrypto.com/india-calls-for-crypto-regulations-intensify-ahead-of-budget-session-2022/ ;
Budget to decide if crypto investment is business income: https://economictimes.indiatimes.com/markets/cryptocurrency/budget-to-decide-if-crypto-investment-is-business-income/articleshow/88844035.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst ;
Digital tokens given by exchanges to employees under tax scrutiny: https://economictimes.indiatimes.com/news/economy/policy/digital-coins-issued-by-indian-exchanges-to-employees-to-face-income-tax-complications/articleshow/88868137.cms ;
Crypto Ad guidelines released in India: https://coincrunch.in/2022/01/12/dos-and-donts-of-crypto-advertisements-in-india/ ;
EPNS goes live on the Ethereum mainnet: https://www.coindesk.com/tech/2022/01/11/epns-goes-live-in-bid-to-bring-notifications-to-web-3/ ;
Axis Bank executes first domestic trade transaction on government-backed blockchain platform: https://www.livemint.com/companies/news/axis-bank-executes-first-domestic-trade-deal-on-govt-backed-blockchain-platform-11641814579053.html;
ED seizes assets in the Morris Coin scam: https://news.bitcoin.com/india-seizes-assets-162m-morris-coin-cryptocurrency-investment-scheme/ ;
Amit Bhardwaj - The Man Behind $2.7 Bn Crypto Ponzi Scheme Dies From Cardiac Arrest: https://inc42.com/buzz/gainbitcoin-ponzi-schemess-amit-bhardwaj-dies-from-cardiac-arrest/
Tezos India partners with the Blockchain School to launch new course: https://www.indianweb2.com/2022/01/tezos-india-partners-with-blockchain.html ;
Unocoin lists Cardano (ADA), Celer Network (CELR), Gifto (GTO), Loopring (LRC) and Sandbox (SAND);
CoinDCX exchange lists DeFine (DFA);
Zebpay lists Hedera (HBAR) in its INR market
WazirX lists Powerledger (POWR) in its USDT market, Ethereum Name Service (ENS) and Near Protocol (NEAR) in its INR market and Amp (AMP) in its INR and USDT market;
CoinSwitch Kuber lists the Fantom (FTM) token on its platform;

RBI creates dedicated fintech department for crypto and CBDC+Crypto exchanges now under the IT Department and ED lens Jan 09, 2022

Show notes

Here are the top cryptocurrency news headlines from India this week:
RBI creates dedicated fintech department for crypto and CBDC: https://www.coindesk.com/business/2022/01/08/indias-central-bank-creates-fintech-department-as-challenges-posed-by-crypto-cbdc-grow/ ;
Crypto exchanges under the IT and ED lens: https://www.hindustantimes.com/india-news/after-raid-on-wazirx-crypto-exchanges-under-i-t-and-ed-scanners-101641407967194.html ;
India’s cryptocurrency platforms lack clarity on tax provisions say industry watchers: https://economictimes.indiatimes.com/tech/tech-bytes/indias-cryptocurrency-platforms-lack-clarity-on-tax-provisions/articleshow/88677171.cms ;
Industry Body seeks crypto law in the upcoming budget session of the parliament: https://www.coindesk.com/business/2022/01/08/industry-body-for-indian-startups-seeks-crypto-rules-in-coming-budget-session-of-parliament/ ;
ED uncovers Morris Coin scam worth Rs 1200 crore: https://coincrunch.in/2022/01/07/ed-unfolds-morris-coin-fraud-worth-rs-1200-crore-malayalam-actors-a-suspect/ ;
Bitbns partners with CoinWealth to launch the IDO of the CNW token on the Ascent Launchpad platform: https://coinwealth.medium.com/coinwealth-partners-with-bitbns-to-serve-the-indian-market-4f8a38b62ab5 ;
WazirX partners with Gurukul Kangri Vishwavidyalaya to launch a free certificate course on blockchain and crypto: https://blockchainpapers.in/learn-blockchain-get-certified-eng/ ;
CoinDCX lists Polytrade and UnMarshal in its INR market;
Zebpay lists ALICE in its INR and USDT market;

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