Bank of India

India Considering Registration, Taxation in Crypto Regulation

India’s government is planning regulations that could require coins to register before being listed and traded on exchanges.Sponsored Sponsored According to anonymous sources from Reuters, the process is intentionally cumbersome in order to deter investors from holding cryptocurrencies. Only coins that have been pre-approved by the government may be traded, with those holding other coins risking a penalty. This regulation would create a barrier of entry for thousands of peer-to-peer currencies if carried out. Another senior government source claimed that capital gains and other taxes, potentially amounting to over 40%,

India Considers Allowing Only Preapproved Cryptocurrencies — Crypto Regulation Expected by Year-End: Report

India is reportedly considering allowing only preapproved cryptocurrencies to be listed and traded on exchanges. In addition, the government aims to both introduce and pass a cryptocurrency law by year-end. Indian Crypto Regulation and Preapproved Cryptocurrencies India is considering allowing only cryptocurrencies that have been “preapproved by the government” to be listed and traded on exchanges, Reuters reported Thursday, citing two sources familiar with the discussions. The approval process is intentionally cumbersome to deter investors from holding cryptocurrencies, the sources said, adding that the government is unlikely to go through

Indian Central Bank Could Launch CBDC Trials by December

The Reserve Bank of India (RBI) could launch its first digital currency trials by December, according to central bank governor Shaktikanta Das.Sponsored Sponsored The RBI is currently studying different aspects of digital currencies, including their security, potential impact on India’s financial sector. The central bank must also consider how a digital rupee would affect monetary policy and currency in circulation. “We are being extremely careful about it because it’s completely a new product, not just for RBI, but globally,” Das explained.Sponsored Sponsored According to Das, the central bank is also