India’s tax authorities have conducted searches at some of India’s biggest cryptocurrency exchanges including “Coinswitch Kuber, CoinDCX, BuyUCoin, and Unocoin after what they deemed tax evasion of Rs. 40.5 Crores (400 million INR or 6 million USD approx.) was detected at cryptocurrency exchange WazirX, according to sources with direct knowledge of the searches. Source link … [Read more...] about Half a Dozen of India’s Crypto Exchanges Searched After Alleged Rupee 700M Tax Evasion Detected: Sources
Exchanges
Japan’s Crypto Exchanges Grapple With Travel Rule as Deadline Looms
Chino said it was too sensitive to disclose specific details of discussions between JCBA members. He did reveal that among questions raised was who would be subject to the travel rule. Though the travel rule would be applied to inter-VASP transactions, he said it was not clear whether hosted wallets or cross-border transactions would also be subject to the rule. Source link … [Read more...] about Japan’s Crypto Exchanges Grapple With Travel Rule as Deadline Looms
Upbit crypto exchange’s blockchain sister firm raises $60M
Dunamu, the operator of major South Korean cryptocurrency exchange Upbit, is progressing with blockchain development as its blockchain arm Lambda256 secured new funding.According to a Dec. 15 announcement, Lambda256 raised 70 billion Korean won ($60 million) in a Series B round, valuing the company at over $300 million. The firm is focused on enterprise-grade chains for … [Read more...] about Upbit crypto exchange’s blockchain sister firm raises $60M
Crypto tumblers, exchanges under microscope as DOJ launches new task force
The White House, under the Biden-Harris administration, introduced a five-pillar strategy to counter corruption as a part of the core United States national security interest. The strategy involves establishing a new task force to address potential illicit activities on crypto exchanges and other services that can serve as avenues for money laundering.With the motive to enhance … [Read more...] about Crypto tumblers, exchanges under microscope as DOJ launches new task force
India may disallow Indians from trading crypto on foreign exchanges
A recent cabinet note shared by the government of India states the new crypto bill will be regulated by the Securities and Exchange Board of India (SEBI). It labels cryptocurrencies as crypto-assets” and might restrict Indians from trading cryptos on foreign platforms. As per NDTV, the cabinet note circulated suggests that a cut-off date will be declared for crypto holders in … [Read more...] about India may disallow Indians from trading crypto on foreign exchanges