Global #India

In a significant move to bolster user security in the Indian cryptocurrency market, CoinDCX has announced the launch of its Crypto Investors Protection Fund. This new initiative aims to enhance protection for users by allocating a portion of the company’s annual brokerage income to safeguard assets against potential losses.

Indian law enforcement agencies have demanded $86 million (722 crore Indian rupees) from Binance in unpaid taxes, as part of an investigation into the crypto exchange’s operations in the country.

India may need to rethink its approach to taxing cryptocurrencies, according to a recent survey conducted by the Esya Centre, a New Delhi-based technology policy think tank.

As cryptocurrencies gain prominence, countries around the world are enacting diverse regulations to address the risks and opportunities of digital assets.

India is gearing up to solidify its stance on cryptocurrencies with the release of a comprehensive policy framework by September. According to Senior Finance Ministry Official Ajay Seth, the government is currently in the process of consulting with relevant stakeholders to shape the regulatory landscape for the burgeoning digital asset industry.

Indian cryptocurrency exchange WazirX has reportedly been hacked, with over $235 million in digital assets stolen. The incident, which is still unfolding, has sent shockwaves through the Indian crypto community and raised concerns about the security of centralized exchanges.

Leading cryptocurrency exchange Bitget is taking proactive measures to secure necessary licensing in India. The company has engaged in ongoing discussions with India's Financial Intelligence Unit (FIU) to obtain Virtual Asset Service Provider (VASP) registration.

Floki Inu (FLOKI), a cryptocurrency that began as a memecoin inspired by Elon Musk's Shiba Inu dog, is venturing into philanthropy. The organization has set its sights on India, aiming to construct a school to address the country's educational accessibility challenges.

Binance, a leading cryptocurrency exchange, has ceased allowing cash payments for peer-to-peer (P2P) cryptocurrency transactions in India. This means that users in the country can no longer purchase or sell supported cryptocurrencies using cash deposits or receipts.

In the fast-paced realm of cryptocurrency, staying abreast of regulations while fostering innovation is paramount. KuCoin, a major player in the global crypto scene, has taken significant steps by registering with India’s FIU.

Dabba, a decentralized physical infrastructure network (DePIN) aimed at providing affordable wireless data access to underserved populations, has announced the launch of its second campaign, allowing users worldwide to purchase Wi-Fi hotspots.

India's securities regulator has proposed that oversight of cryptocurrency trading should be divided among multiple authorities, according to a Reuters report.