Indian government orders companies to reveal crypto holdings

Indian government orders companies to reveal crypto holdings
фото показано с : coinjournal.net

2021-3-26 13:59

The Indian government has ordered private and public companies operating in the country to disclose their cryptocurrency holdings

The Indian government is amending its legislation to require private and public companies operating in the country to reveal their cryptocurrency holdings in their financial statements. The Government of India Ministry of Corporate Affairs published this information on Wednesday, stating that the rule will apply to all Indian companies starting April 1.

The new guideline applies to companies that have invested or traded cryptocurrencies during the financial year. These companies are required to detail profits or losses on their cryptocurrency transactions.

The amendment appears on Page 11 of the memo and will soon be added to the Companies Act of 2013. India remains one of the countries with a lot of regulatory uncertainty about cryptocurrencies.

The Reserve Bank of India (RBI) had previously barred banks from facilitating cryptocurrency transactions, but the Supreme Court had later overturned the decision after numerous appeals from blockchain and crypto groups. However, several news reports in India suggest that the government could ban cryptocurrency trading again through the legislative route.

Coinbase establishing a presence in India

The US-based cryptocurrency exchange Coinbase is establishing a presence in India despite the uncertain regulatory environment in the country. In a blog post yesterday, Coinbase revealed that it is establishing a business presence in India and wants to leverage the wealth of world-class engineering talent available in the country.

“Coinbase is committed to being a remote-first company, which means that new hires in India, Canada and elsewhere will have the option to work across various locations in their country of hire. We expect to open a physical office, initially in Hyderabad, for Indian employees as COVID-related conditions allow”, the blog post added.

The cryptocurrency exchange will soon list on the NASDAQ stock exchange, and its presence in India could be a huge boost for the cryptocurrency space in the country.

The post Indian government orders companies to reveal crypto holdings appeared first on Coin Journal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Indian Rupee (INR) на Currencies.ru

$ 5837685.1 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $5810749.29 - H: $5867213.91
Капитализация $0 Rank 99999
Цена в час новости $ 3915782.63 (49.08%)

companies indian government crypto holdings reveal orders

Источник: coinjournal.net

companies indian → Результатов: 74


Indian Govt’s Investigations Into Crypto Exchanges Become Public Amid Uncertain Regulations

A filing that was submitted to the Lok Sabha, which is the lower house of the Indian parliament, reveals that some Bitcoin (BTC) companies in India were fraudulent. Mohammed Faizal, a center-left member of the parliament, asked on March 16 the official question if the government is informed of the large number of reports on […]

2020-3-19 21:19


Фото:

Bitcoin Companies Under Investigation by Indian Government

Lawmakers in India are investigating the operations of Bitcoin and crypto companies in the country over suspected fraudulent activities. India’s Lower Parliament Looking into Bitcoin Companies According to a document released by Lok Sabha — the lower house of India’s bicameral parliament, some lawmakers in the country want the Executive to look into the activitiesRead MoreRead More.

2020-3-19 20:00


Power Ledger Partners With India’s Largest State To Introduce P2P Solar Energy Trading

Uttar Pradesh is poised to become the inaugural Indian state to introduce blockchain-based solar energy trading. This is after Australian startup, Power Ledger inked a deal with two major government-owned companies for a pilot project that will involve blockchain-based solar energy trading, Cointelegraph reports.

2019-11-30 22:40


Binance Supports New Fiat Onramp to Buy Crypto Assets with the Indian Rupee via WazirX

Binance can now purchase Bitcoin (BTC) and other cryptocurrencies through Rupee bank transfers that are powered by WazirX, the Indian digital exchange for assets. Not banned in the country, people in India still find it difficult to trade and buy Bitcoin because banks don’t have the green light to work with crypto exchanges and companies. […]

2019-11-27 01:31


Фото:

Bithumb Seeking Indian Partner for its Blockchain Platform

Prominent Korean crypto exchange, Bithumb, has plans to create a new blockchain platform, and it is currently searching for Indian partners to collaborate with. Bithumb is coming to India. According to the major cryptocurrency trading platform’s recent announcement, Bithumb plans to develop a new blockchain platform specially designed for India and its growing number of crypto users.

2019-11-7 14:30


Фото:

India doesn’t want WhatsApp sharing your payment data with Facebook

Even as WhatsApp readies to launch its mobile payment service in India later this year, the government is concerned about its privacy and security ramifications. “Indian authorities are concerned that WhatsApp‘s payment service might share user data with group companies Facebook and Instagram, compromising the security, privacy and non-commercial information of its subscribers,” according to a report from the Economic Times.

2019-7-26 09:40


Фото:

Here’s why India wants to build its own WhatsApp and Gmail

The Indian government is reportedly planning to build its own WhatsApp-like chat platform to facilitate secure communications for government agencies, according to news outlet Economic Times. The move is meant to reduce the country’s reliance on US technology companies, and ensure that all communication and data transmitted over the service will be stored locally in the country.

2019-6-27 14:22


Cryptocurrency-Centric Companies in India are Helping Banks with Blockchain in Thailand

Wipro, which is a multinational Indian Tech company, has gone ahead to develop a solution that can be used by banks within Thailand, the solution has been based on the blockchain technology. All this comes at a time when the banking sectors together with the government are looking on ways to enact the blanket ban […]

2019-5-8 18:21


Indian Trade Association Calls for Fast Crypto Regulation to Drive Growth

The Indian National Association of Software and Services Companies (Nasscom) has released a report that calls for regulatory certainty, particularly in areas such as cryptocurrency. The lack of legal clarity and the crypto banking ban have hindered investments in this sector, hurt crypto exchanges, and driven investors out of the country, according to the association.

2019-2-22 16:31


дальше еще 25 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Is India planning to ban cryptocurrency?

India is on the brink of a pivotal decision regarding cryptocurrencies as the government deliberates a potential ban on private digital currencies. The focus is now shifting towards the development of a Central Bank Digital Currency (CBDC) – the digital rupee.

India weighs crypto ban as it pushes for digital rupee adoption

Regulators in India are considering banning cryptocurrencies like Bitcoin and Ether and are instead, promoting the use of the digital rupee. On Oct. 22, local media outlet the Hindustan Times cited two officials familiar with the matter who claimed that…