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India has recovered $14 million in goods and services tax from crypto firms like WazirX, but Binance has yet to pay its $85 million tax evasion liabilities, the minister said. Go to Source
India’s Enforcement Directorate (ED) has conducted searches at five premises linked to popular cryptocurrency trading platform Coinswitch Kuber. The company says its engagement with the ED was not related to any money laundering inquiry. The federal agency recently froze the assets of two other crypto firms, Wazirx and Vauld. Coinswitch Kuber Next on ED’s List … Read more
The Andreessen Horowitz-backed crypto exchange is the latest on the Enforcement Directorate’s anti-money laundering hit list. Go to Source Powered by WPeMatico
A number of cryptocurrency exchanges in India are disabling rupee deposits, particularly payments using the Unified Payments Interface (UPI) system. This followed a statement issued by the National Payments Corporation of India (NPCI) regarding the usage of the UPI system by crypto exchanges. Indian Exchanges Stop Offering Major Payment Options Options to deposit Indian rupees … Read more
The Indian government has revealed that 11 cryptocurrency exchanges have been under investigation by the country’s tax authority. About 95.86 crore rupees ($12.6 million) have been recovered from them. 11 Crypto Exchanges Investigated for Tax Evasion The Indian government answered some questions regarding the taxation of cryptocurrency exchanges Monday in Lok Sabha, the lower house … Read more
The Indian cryptocurrency industry has been growing rapidly despite the nationwide lockdown and the coronavirus crisis. Two new cryptocurrency trading platforms are launching in India while existing crypto businesses seek clarification from the central bank, the Reserve Bank of India (RBI). New Cryptocurrency Trading Platforms Launching in India The crypto sector in India is showing … Read more
