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All updates related to latest developments in Crypto Currency

Binance Joins Internet and Mobile Association of India (IAMAI), to Strengthen the Fight for Crypto

India’s crypto sector has been on its own, with news like a complete ban looming around every now and then. Binance has joined the country’s top internet association (IAMAI) in a bid to join the fight to legitimize the industry with its reach and resources. One of world’s largest Cryptocurrency exchange Binance has has joined the crypto-asset exchange committee at the Internet and Mobile Association of India [IAMAI], the association…

Koinfox Crypto Trading Platform Raises Seed Funding from Amesten Assets and CEO Sachin Jain

New funding from a Hedge fund and fund manager will help Koinfox build products in pipeline to serve Crypto Businesses. Crypto trading platform Koinfox has announced a new injection of funding from Crypto hedge fund Amesten Asset and its co-founder and CEO Sachin Jain, aiming to provide a strategic growth in building new products and serving large Crypto Businesses. Koinfox is the first investment by the hedge fund, Jain however…

Is the government Banning Cryptocurrencies in India? Again?

Earlier today a “Breaking News” on Economic Times said – India plans lasting ban on cryptos. We dive deeper into what this means and what was not reported. Waking up to calls and messages from well wishers and those who want to know if the news is true is not a good thing. I had to collect myself, make some calls, gather information and sit down to write this article…

Is India’s Income Tax Department Tracking your Cryptocurrency Transactions?

The RTI raised asking the question in March was forwarded twice before being rejected by the Income tax Investigations Department. On March 22, I created an RTI query addressed to the Central Board of Direct Taxes (CBDT) asking them two questions: Please tell us if the tax department is using any tools to track cryptocurrency transactions in India. If yes, what are they. Please tell us how does a trader…

Ready to compensate the user 100% of his lost funds, Says CoinDCX

Cryptocurrency Exchange CoinDCX released a statement regarding the recent incident where over 3 BTC were stolen from a user’s account in an alleged hack. The Statement reads, Platform was not breached, isolated incident found and one user account impacted Security upgrades have been resolved, and all user funds are secure If found culpable of error, we are ready to compensate the user 100% of his lost funds CoinDCX On May…

Here’s how someone stole 3 BTC from a CoinDCX user’s account

“So one issue that happened is a person from Haryana (state in India) who had 3 BTC in CoinDCX wallet was hacked of the whole 3 BTC on night of this 13th May.“ I am sure that by this time, the above viral message has reached you in one way or another and if it hasn’t, you aren’t paying enough attention to the crypto scene in India. In this article…

RBI Clarifies: No Prohibition on Banks to Open Accounts for Crypto Firms

Despite the Supreme Court Judgment in March quashing the RBI restrictions on banks to serve Crypto firms, some banks have refused to provide services to exchanges and traders. Harish BV, co-founder on one of India’s oldest cryptocurrency exchange Unocoin, filed an RTI request with the Reserve Bank of India asking if RBI prohibits banks from dealing with businesses and individuals who trade/offer cryptocurrencies. RBI replied, “As on date (May 22,…

CoinSwitch Announces Mobile App to Trade 100 Digital Assets with INR

Cryptocurrency exchange aggregator CoinSwitch, has announced launch of CoinSwitch Kuber, a mobile app exclusively for users in India. Kuber will allow Indian crypto traders to buy and sell over 100 Crypto assets with the Sovereign Fiat currency INR. Kuber will launch to the public on June 1st, 2020. The announcement says, CoinSwitch Kuber will ensure the best rates by aggregating liquidity across all Indian exchanges. CoinSwitch Kuber will remove the…

A trading competition to win up to $1000 by Koinfox and Stably

Users can win upto $1000 in USDS, a USD pegged stable coin in the latest trading competition by Koinfox ending on May 3 at 5:30 AM IST. The Competition Trading the USDS/USDT pair on Binance using Koinfox platform can be rewarding as top 10 traders by volume will each get 50 USDS. Not only that, but the top three profitable traders each get 250, 150 and 100 USDS respectively. USDS…

BitDroplet – Bitcoin SIP Investment Platform now allows BTC withdrawal

Bitdroplet, platform to invest in Bitcoin at regular intervals now offers direct BTC withdrawals. The platform earlier mandated users to redeem their investment in USDT and withdraw the same. SIP some Bitcoin India’s Bitbns crypto exchange launched Bitdroplet in December last year to allow users to buy BTC for any amount at regular intervals. Users can invest a fixed amount in BTC everyday, week or month, thereby possibly advantaging from…