Photo: The Economic Times

Money Laundering Laws Applies To Crypto Trading: GoI

In a setback to Indian bitcoin traders, India’s money laundering laws will now apply to trade in cryptocurrencies, said the federal government. In a notification dated March 7, the Government of India said, "The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under money laundering laws." 

Wed, 08 Mar 2023 - 09:00 PM / by Varsha Joshi

Tags: Cryptocurrency, Indian government, MONEY LAUNDERING, Notification, Traders

Courtesy: The Indian Express


Photo: The Economic Times

Cryptocurrency Company Transfers $10.5 Millions By Mistake

In a shocking incident, due to an unfortunate typo, cryptocurrency exchange mistakenly issued a customer A$10.5 million ($7.2 million) rather than the expected A$100 ($68). The transaction was made in May 2021, which was realised by the company during the Audit in December 2021. However, by the time mistake was discovered, the customer Thevamanogari Manivel, has withdrawn all the money and spent it lavishly, and is now facing legal… read-more

Thu, 01 Sep 2022 - 07:16 PM / by Varsha Joshi

Tags: Cryptocurrency, Bizarre, Transaction, Audit, Australian Company, money

Courtesy: Zee News India

Enforcement Directorate

Photo: Indian Express

ED Holds Yellow Tune Technologies' Assets, Totaling Rs 370 Cr In Money Laundering Case

Enforcement Directorate (ED) has frozen assets worth Rs 370 crore belonging to a Bengaluru-based business linked to quick loan apps investigation. Assets were stored in Flipvolt cryptocurrency exchange wallets, bank-accounts, and payment gateway balances. Flipvolt is the Indian division of Singaporean crypto lender Vauld. Yellow Tune, according to ED, was a shell business with Chinese nationals as board of directors, and money was put into… read-more

Sat, 13 Aug 2022 - 04:00 PM / by Vidhi Jhunjhunwala

Tags: Enforcement Directorate, bengaluru, Money laundering case, Assets Seized, Cryptocurrency

Courtesy: DNA INDIA


Photo: Zee5

24Carret, India's 1st Cryptocurrency High Yield Account, Offers Passive Income

24Carret, which was founded by IIT BHU and IIM Ahmedabad alumni, is now available to Indians through the Carret app. Carret, which was founded in India, believes in the cryptocurrency ecosystem's long-term potential for passive income generation. Carret is introducing crypto yield accounts as the world of decentralised finance develops. Crypto yield accounts enable users to… read-more

Sat, 06 Aug 2022 - 05:35 PM / by Vidhi Jhunjhunwala

Tags: passive income, 24Carret, Cryptocurrency, high yield account, India

Courtesy: ANI

RBI Governor - Union FM

Photo: Live Mint

RBI Expressed Concern Over Cryptocurrency In India: FM Sitharaman

The FM Nirmala Sitharaman said the RBI has expressed concerns over cryptocurrencies. On July 18, Nirmala Sitharaman said, they should be prohibited as they can have a destabilising effect on monetary and fiscal stability. FM said, "In view of the concerns expressed by the RBI on the destabilising effect of cryptocurrencies on the monetary and fiscal stability of a country, the RBI has recommended for framing of legislation".

Mon, 18 Jul 2022 - 06:39 PM / by Varsha Joshi

Tags: FM Nirmala Sitharaman, Cryptocurrency, RBI Policy, Prohibited, Union Govt


Photo: The Balance

ED Issues Notices To Cryptocurrency Firms Amid FEMA Violations

Amid guidelines violations, the Enforcement Directorate (ED) is working to crackdown cryptocurrency firms, and issued notices to crypto exchange companies CoinSwitch and CouinDCX. The issued summons were under investigation happened last year, in which the ED pulled up ZebPay for violating foreign exchange law. Furthemrore, cases against CoinSwitch and CoinDCX is under investigation, as the companies allegedly having illegal foreign exchange… read-more

Wed, 06 Jul 2022 - 05:10 PM / by Varsha Joshi

Tags: Enforcement Directorate, Cryptocurrency, Notices, Bengaluru-ED, FEMA Violations

Courtesy: News 18


Photo: News18

Crypto-Market Begins To Recover Following Recent Downturn

Bitcoin has dropped about half of its value since its November high and has been hovering around $30,000 for the past month. Some investors believe bitcoin has reached a bottom, based on the amount of money flowing into listed cryptocurrency funds, which represent a small portion of the market. Funds experienced an average weekly inflow of $66.5 million, reversing a disastrous April loss of $49.6 million. 

Tue, 07 Jun 2022 - 02:55 PM / by Vidhi Jhunjhunwala

Tags: Cryptocurrency, Bitcoin, Stock market, Downfall, Funds

Courtesy: NDTV

India's First Cryptocurrency, GanderCoin

Photo: Twitter

India's First Cryptocurrency, GanderCoin, Launches In Market

GanderCoin, India's first and primary cryptocurrency, entered the market on May 30. GanderCoin is now available on three main Indian crypto trading platforms: CoinCRED, COINLORD, and iNDOEX. GanderCoin's major goal is to deliver the greatest digital financial services while maintaining integrity, simplicity, and transparency. GanderCoin's starting price is 10 rupees (in INR), which is equal to 0.13 USDT. Its current total market supply is 10,… read-more

Wed, 01 Jun 2022 - 09:23 PM / by Vidhi Jhunjhunwala

Tags: Cryptocurrency, India, Gandercoin, Digital coin, COINLORD

Courtesy: ANI

Union FM Nirmala Sitharaman

Photo: Financial Express

Cryptocurrency Is Risk, Can Be Used For Illegal Purposes: Nirmala Sitharaman

Union FM Nirmala Sitharaman pointed out the biggest risk of cryptocurrency and said, "I think the biggest risk for all countries across the board will be the money laundering aspect and also the aspect of currency being used for financing terror." Addressing the Spring Meeting of the World Bank, Sitharaman shared her views on digital money and regulation for the same. She also held bilateral meetings with international leaders.

Tue, 19 Apr 2022 - 10:45 AM / by Varsha Joshi

Tags: Nirmala Sitharaman, Cryptocurrency, World Bank, Spring Meet, Digital Money

Courtesy: NDTV


Photo: CNBC

Karnataka Bitcoin Case, Home Minister Says No links With It

The Bitfinex cryptocurrency hacking in August 2016 is under investigation by US agencies as USD 4.5 billion bitcoin was stolen. It was referred to the hacker being from Bengaluru who was arrested in November 2020. However, the home minister of Karnataka released a statement,  “American agencies have arrested two US nationals a few days ago and have recovered the entire amount that was hacked from the Bitfinex exchange."

Tue, 08 Mar 2022 - 10:00 AM / by Rupsa Debnath

Tags: Bitcoin, Bitcoin Scam, Karnataka, Cryptocurrency, Indian cryptocurrency market

Courtesy: The Indian Express