Binance-backed exchange WazirX is cracked down on by Indian authorities

    India’s Enforcement Directorate has frozen WazirX’s bank balances with around $8 million worth. WazirX faced scrutiny for its alleged money laundering. Meanwhile, Binance’s CEO said the company never completed the acquisition of WazirX, which it had announced in November 2019. India’s Enforcement Directorate (ED), a law enforcement agency that investigates financial crimes, has frozen bank…

    Play-to-earn NFT games are the most popular in India, Hong Kong, and the UAE

    India, Hong Kong, and the UAE are the top three locations where play-to-earn games are most popular. In a recent study, Finder estimated that 34% of the Indian respondents had played play-to-earn (P2E) games, Hong Kong ranked second with 29%, while the UAE held the third position with 27%. According to Finder’s NFT Gaming Adoption…

    UAE’s Cypher Capital launches $100 million crypto asset fund

    Cypher Capital, a Dubai-based venture capital company, is launching a $100 million seed fund aimed at investing in crypto and digital assets. It plans to invest 40% of its funds in the emerging blockchain and crypto startups in India. The fund, financed by the company’s founder, Bijan Alizadeh, will also invest in decentralized finance platforms,…

    Indian authorities raid cryptocurrency exchanges over alleged tax evasion

    On Saturday, Central Goods and Services Tax (CGST) Mumbai Zone detected massive evasion of around 700 million rupees during the crackdown on cryptocurrency service provider – WazirX. A local media report has confirmed that major cryptocurrency service providers are under investigation in India on suspicion of possible tax evasion. According to NTDV, the director-general GST…

    India on the crypto world map

    Two major Asian cryptocurrency markets – the Persian Gulf and India – seem destined to interact. The combination of Gulf countries’ capitals and a large number of crypto owners and promising crypto-related IT startups in India could prove incredibly profitable. India is a huge region in the middle of a venture capital investment boom. The…

    Indian сrypto ban rumors crash local crypto markets

    India is on track to ban all but a few private cryptocurrencies after the government announced Tuesday the upcoming introduction of a new financial regulation bill. Indian crypto exchanges have already suffered panic selling over crypto bill confusion. The Cryptocurrency and Regulation of Official Digital Currency bill will create a facilitative framework for an official…