India’s Tax Authority Continues to Hound Bitcoin Investors

Governments all over the world are seemingly cracking down on cryptocurrency activity. In India, things are slowly evolving in such a direction. Not only are banks closing bank accounts related to cryptocurrency activity, but the tax authority is getting involved as well. More specifically, a fair few speculators do not declare their investments on tax […]

Indian Banks Squeeze Crypto Exchanges

It is common knowledge that banks are far from comfortable with the explosion of interest in cryptocurrency investing in the last year. Just by its nature, a decentralized currency goes against the business model of a bank, which essentially profits from holding and moving other people’s money. Banks in India have been frowning upon virtual […]

Litigation Filed in India for Immediate Intervention of the Flow of Bitcoins

Litigation has been filed in an Indian High Court by a public prosecutor of cybercrime cases. Claiming that cryptocurrencies facilitate crime, he calls for their immediate ban or regulation. Litigation Seeks Immediate Intervention A public interest litigation (PIL) was filed with the Calcutta High Court in India “seeking an intervention to regulate the flow of […]

Govt. Labels All Virtual Currencies As ‘Ponzi Schemes’ – 4 Things You Should Know!

  Definition: Ponzi schemes are fraudulent investment operations where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading. One of the stingiest and meanest attacks against cryptocurrencies and virtual currencies like Bitcoin has just been unleashed by the Govt. of […]

India’s Crypto Crackdown: Wealthy Bitcoiners Targeted, Start-Ups Scrutinized

It has been a busy week for the government of India concerning cryptocurrencies. After it raided crypto exchanges, it is now actively investigating wealthy bitcoiners through the Income Tax Department of India (ITDI). In addition to roustings and investigations, the Securities and Exchange Board of India (SEBI) announced new scrutiny initiatives regarding initial coin offerings […]

Rs 50 Cr Bitcoin Ponzi Scheme Busted; 600 Shoppers Duped of Rs 50 Lakhs!

Bitcoin Ponzi Scheme Two major scams have been unearthed, both of which used the new-age digital medium to make a fool of the customers. While a ponzi scheme under the garb of bitcoins has been busted, which was worth Rs 50 crore; a gang of 18 conmen duped Rs 50 lakh from 600 ecommerce customers, […]

While Bitcoin Trades Above $19K In India — Tax Officials Are Snooping for Gains

Bitcoin is booming in India, and the top trading platforms in the country Zebpay, Coinsecure, Unocoin, and Bitxoxo have seen unprecedented trade volumes and exchange sign-ups. However, in the midst of the bitcoin fever taking place in the region, the country’s Income Tax Department of India (ITDI) has been investigating exchanges and are researching the […]

Indian Entrepreneurs Rush to Launch Crypto Companies Following Bitcoin Boom

Despite the government ramping up regulatory measures for bitcoin traders and exchanges, Indian entrepreneurs are rushing to set up companies with bitcoin or cryptocurrency-related words in their names. Capitalizing on Crypto Indian entrepreneurs have been rushing to register businesses with the word “bitcoin”, “crypto”, or “coin” in their names, Tech Observer reported on Tuesday. The […]

Indian Police Forces Break up Gang Praying on Bitcoin Investors

The incredible bitcoin price rally this year has attracted a lot of new people to the cryptocurrency world, many of them just looking to make a quick buck without understanding too much what they are getting into. Naturally this kind of situation attracts criminals that look to exploit it, the most recent example being a […]

It Came from the East: How India & Asia’s Other Markets Bolstered Cryptocurrencies in 2017

Bitcoin and the digital asset economy has seen a meteoric rise in value over the course of 2017. Various countries have caught the cryptocurrency fever, but the lion’s share of digital asset demand has stemmed from regions located in Asia. It’s clear from various data recorded all year long that countries like Japan, South Korea, […]

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