Asia Remains Interested In Web3 – For Now
Although Web3 interest slowed significantly in 2023, some recent developments indicate that Asia might not be done with the technology yet.
Source: forbes.com
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Foreign crypto exchanges in India face uncertain future
Despite years of campaigns and demand for clear regulations, the Indian government has not offered clarity.
Source: cointelegraph.com
China's surprise NFT move, Hong Kong's $15M Bitcoin fund: Asia Express – Cointelegraph Magazine
China issues legal guidance that gives NFT markets hope, Bitget invests $10M in Indian startups, SEBA Bank's Hong Kong license: Asia Express.
Source: cointelegraph.com
HPCL Adopts Blockchain Tech To Streamline Purchase Order Systems -
BT Hindustan Petroleum Corporation Limited (HPCL), one of India’s largest state-owned oil companies, has adopted blockchain technology to streamline its purchase order systems and to prevent forgery in the process. The PSU has partnered with Zupple Labs, an Indian Web3 start-up. In this partnership, Zupple Labs would help HPCL to issue tamper-proof digital purchase orders…
Source: khabarindia.in
cryptocurrency: India's crypto taxation framework: How does it fare globally?
While India has made significant steps to standardise taxation, a high rate of TDS has caused a flight of volumes and users to platforms in foreign jurisdictions and the grey market. Following the announcement of a new tax regime, there was a shift of around Rs 32,000 crore of trade volume from domestic VDA exchanges to foreign ones from Feb-Oct 2022.
Source: indiatimes.com