March 28, 2024

Web and Technology News

India probing ‘several’ crypto cases for money laundering, seizes over $115 million

India’s Enforcement Directorate is investigating “several” crypto cases for money-laundering schemes and has seized $115.5 million to date in such crimes, the Ministry of Finance said, the latest in a series of crackdown by the authorities on the nascent space that is already reeling from the tremulous market conditions. The Indian crime fighting agency has […]

India probing ‘several’ crypto cases for money laundering, seizes over $115 million by Manish Singh originally published on TechCrunch

India’s crypto tax pushing traders to foreign exchanges

India’s tax rules on crypto, which went into effect last April, has resulted in local exchanges ceding the lion’s share of the market to those operated by foreign players, according to a new report. Binance, Coinbase and other foreign exchanges commanded 67.6% of the crypto market share in India as of October 2022, up from […]

India’s crypto tax pushing traders to foreign exchanges by Manish Singh originally published on TechCrunch

Binance chief says crypto exchange doesn’t see viable business in India

Scores of crypto-focused venture capital firms have raced to India in the past two years, hoping to turn the world’s second largest internet market’s large developer community into a key web3 power house. But what does Changpeng “CZ” Zhao, arguably the most powerful and influential figure in the crypto industry, think about the potential of […]

Binance chief says crypto exchange doesn’t see viable business in India by Manish Singh originally published on TechCrunch

Coinbase and Polygon back new crypto advocacy group in India

Top crypto firms including Coinbase and Polygon are among the firms that have formed an industry body in India to promote dialogue between key stakeholders and drive awareness about web3, months after the largest local crypto advocacy group was disbanded. Members of the new industry body, named Bharat Web3 Association (BWA), include top local crypto […]

Coinbase and Polygon back new crypto advocacy group in India by Manish Singh originally published on TechCrunch

Republic’s venture arm reportedly raising $700 million for crypto-focused funds

Private investment platform Republic’s ~$1 billion venture arm is reportedly in talks to raise $700 million for two new crypto-focused funds, according to Axios. The funds include a $200 million flagship venture fund and a $500 million dedicated crypto fund, Axios wrote in its Pro fintech newsletter. The venture fund will have 20% of its […]

Republic’s venture arm reportedly raising $700 million for crypto-focused funds

Private investment platform Republic’s ~$1 billion venture arm is reportedly in talks to raise $700 million for two new crypto-focused funds, according to Axios. The funds include a $200 million flagship venture fund and a $500 million dedicated crypto fund, Axios wrote in its Pro fintech newsletter. The venture fund will have 20% of its […]

Indian crypto exchange CoinDCX tops $2 billion valuation in new $135 million funding

CoinDCX has doubled its valuation to $2.15 billion (post-money) in eight months following a fresh $135 million funding, it said today, as the Indian cryptocurrency exchange looks to aggressively expand its product offerings and talent base, including some to double down on compliances in the world’s second largest internet market. Steadview and existing backer Pantera […]

Coinbase makes India push with support for UPI payments

Coinbase is beginning to add support for payment instruments UPI and IMPS in India, making its crypto exchange broadly functional in the world’s second largest internet market for the first time in years. Several users noticed on Thursday that the world’s largest publicly listed crypto exchange’s app had added the new payment methods in the […]

India to tax each crypto investment independently

India’s proposed taxation law of virtual digital assets won’t permit individuals to offset loss from one asset against profit of another, the Ministry of Finance said Monday in a move that the head of the nation’s top cryptocurrency exchange termed as “detrimental” and “regressive.” India proposed law for taxing virtual currencies in February this year. […]