Stay updated with breaking news from Sumit Gupta. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Letters sent out to the finance ministry last month by Bharat Web3 Association and CoinDCX highlighted concerns over the 30 percent VDA tax burdening small Web3 and crypto businesses and the need for a level playing field by bringing offshore exchanges under TDS regulations.
Although the regulatory framework for crypto currency is still evolving, the US SECs approval for Bitcoin ETFs will open the gates for an asset that has been waiting in the wings for legitimacy. This means institutional capital, price stability and faster adoption.
The US Securities and Exchange Commission (SEC) has granted approval to major asset managers, including BlackRock and Fidelity, for the first-ever US-listed exchange-traded funds (ETFs) that track the price of bitcoin. These bitcoin ETFs allow mainstream financial institutions with trillions of dollars in assets under management to access the cryptocurrency asset class.
Apple has removed Binance, the world's largest cryptocurrency exchange, from its App Store in response to a show-cause notice from the Finance Ministry regarding non-compliance with India's money laundering laws.
Move follows FIU notice to nine platforms in late December