Heavy selling was witnessed on Indian crypto exchanges earlier today as reports about India banning private cryptocurrencies emerged. The Indian government is currently preparing to the table ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ next week on November 29. However, some local media houses reporting that government will ban private cryptocurrencies has
The Securities and Exchange Board of India (SEBI) has issued a circular addressed to investment financial advisors in the country, barring them from offering any financial advice on cryptocurrencies and similar unregulated markets. SEBI in its circular noted that investment advisors have been found involved in unregulated activity by advising clients on crypto market investment.
WazirX, the top crypto India exchange is at the center of a $38 million money-laundering investigation with a Binance connection. The Enforcement Directorate, a financial watchdog in India today allegedly issued a show-cause notice to the Indian crypto exchange WazirX regarding an ongoing money-laundering investigation into an illegal Chinese betting app. ED in its official
The Indian crypto regulations are yet to be finalized, but sources familiar with the matter suggested that the top regulatory body in the country may classify it as an asset class, reported The Economic Times. The news comes just a day after El Salvador, a small Central American nation passed a bill to make Bitcoin
Indian Minister of State for Finance and Corporate Affairs in a recent interview said that the Indian government is open to crypto regulations and is considering the various aspects of the nascent field to frame the laws around cryptocurrencies. During the interview, Thakur also highlighted that due to elections in five states the last parliamentary