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Apart from Binance and Kucoin, the other virtual digital assets service providers (VDA SP) who have been issued notice for not registering as reporting entities with the FIU-India are Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfenex.
The police arrested Gurtej Singh Sidhu, a native of Faridkot, Punjab, from Rajasthan and his associate Nirod Das of Bhadrak, Orissa.
Nigerian policymakers are planning to legalise cryptocurrencies such as Bitcoin within its shores and emphasised the need for an efficient and vibrant capital market in the country.
Despite the slowdown, crypto adoption has been on a rise with more people wanting to dabble a little in crypto investments. However, crypto mining does not come cheap as mining one Bitcoin isn’t as valuable as it used to be a few months ago.
A few Indian entrepreneurs have chosen other countries over India to headquarter their crypto businesses due to more tax-friendly policies. Should India be worried about a crypto brain drain?