Timechain Labs to launch BitRupi at Enterprise Utility Blockchain Summit India
BitRupi widget is an Indian regulatory compliant top-up tool for BSV users in India that accepts Indian rupee and gets BSV instantly sent to their preferred wallet.
BitRupi widget is an Indian regulatory compliant top-up tool for BSV users in India that accepts Indian rupee and gets BSV instantly sent to their preferred wallet.
The finance ministry does not support RBI's plan to ban digital assets because a decision to ban them will only be effective if there is international collaboration due to their borderless nature.
The Internet and Mobile Association of India said it was forced to make the decision due to the lingering regulatory uncertainty around the digital assets sector in India.
A report by PwC shows revealed that funding in Indian startups dipped 40% in Q2, with digital currency startups feeling the most heat as funds dry up.
The Directorate of Enforcement has been questioning executives at CoinSwitch Kuber, CoinDCX, and WazirX regarding violating foreign exchange regulations.
According to Business Insider, XREX sent out a notice to users on June 30 directing them to withdraw their INR balances two days before the 1% TDS kicked in on July 1.
The first-ever Enterprise Utility Blockchain Summit India, powered by BSV blockchain, and will be held at the LaLiT Ashok in Bengaluru, India, on August 5.
The Reserve Bank of India states that digital assets don't pose a significant risk because the market is relatively small, but it thinks that as the ecosystems they support grow, their risks are likely to increase.
The data from the report shows that digital assets-related job roles comprise about 67.48% of all tech hires from April 2021 to April 2022.
The notice comes after users took to social media to decry the lack of explanation for the suspension of withdrawals on the digital currency exchange that had been noticed since May.
Top banks currently involved in the pilot include HDFC Bank, ICICI Bank, and State Bank of India (SBI). Axis Bank, Bank of Baroda, and Union Bank of India.
The circular from the CBDT amends the Income Tax rules to specify how firms and individuals should comply with the law. It also adds how the reporting format for the TDS should be spelled out.