Author: Simran Mishra

Ripple XRPL v3.2.0 Cuts Memory Use by Up to 40% as fixCleanup3_2_0 Awaits Validator Approval Ripple has taken another step in improving the XRP Ledger with the launch of XRPL v3.2.0. The update became available more than three weeks ago and brings better performance, stronger security, and lower operating costs. Even so, many node operators have not switched to the new version, showing that large blockchain upgrades often take time to spread across the network. According to the latest network data, 357 out of 828 Ripple Nodes now run XRPL v3.2.0. This equals about 43% of all nodes on the…

RBI Warns Banks Against Crypto Exposure as Offshore Trading and Tax Risks Remain Under Government Review India has yet to make a final decision on cryptocurrencies, despite ongoing discussions for many years. New government documents show that the Reserve Bank of India still supports a crypto ban, while the Income Tax Department believes that crypto trading through offshore platforms creates serious tax challenges. The government has not announced a final policy, although key departments continue raising concerns about digital assets. According to documents reviewed by Reuters, the Reserve Bank of India wants a policy that moves closer to banning private…

India’s crypto market is changing as Crypto Futures now lead Spot Trading, with Tier 2 India driving strong growth. More traders are choosing Crypto Derivatives and Altcoin Trading as the market expands. India’s crypto market is changing quickly as Crypto Futures trading becomes more popular than Spot Trading. New data from crypto exchange Giottus shows that crypto derivatives made up 57.22% of total trading volume between September 2025 and May 2026. Spot trading accounted for 42.78%, indicating that more traders now prefer futures to direct crypto buying and selling. The report studied trading activity from Giottus’ 1.3 million users and…

India’s Rs. 2,500 Crore Crypto Regulation Case has Reignited the Debate Over FEMA, USDT, Stablecoins, and Cross-Border Crypto Rules: Will India Finally Introduce a Dedicated Crypto Law? India’s crypto industry is going through yet another period of uncertainty after the Enforcement Directorate launched a major investigation into alleged unauthorized cross-border transfers involving stablecoins.  The latest probe focuses on more than Rs. 2,500 crore that investigators claim moved outside India through cryptocurrency payment channels without approval from the Reserve Bank of India. While authorities froze nearly Rs. 6 crore in bank assets, the investigation has not resulted in any arrests so…

ED Says Sriki Used Stolen Crypto, Gaming Platforms, and Global Exchanges to Hide Illegal Money Trail The Enforcement Directorate (ED) has taken a major step in a Bitcoin fraud case by filing a 3,500-page chargesheet against hacker Srikrishna Ramesh, also known as Sriki, cryptocurrency trader Robin Khandelwal, and businessman Sunish Hegde. The agency submitted the chargesheet before a special court in Bengaluru under the Prevention of Money Laundering Act (PMLA). The ED says the three accused worked together in a large network that involved hacking, cryptocurrency laundering, and darknet activities. The chargesheet also names a private company and two more…

ICAI Tells Parliament Clear Crypto Rules Will Improve Accounting, Audits, Tax Compliance, and Financial Reporting The Institute of Chartered Accountants of India (ICAI) has asked the government to bring a proper law for VDAs, including cryptocurrencies. At the same time, the institute made one point quite clear. It does not support crypto assets and has not taken any position against the RBI. ICAI shared its views before the Parliamentary Standing Committee on Finance, which is studying the future of VDAs in India. The institute attended the meeting to explain accounting, auditing, taxation, and financial reporting related to crypto assets. It…

Dubai Stays Ahead in Crypto While Taiwan and India Take Different Regulatory Paths Asia’s crypto market is changing fast as governments follow different approaches to digital assets. Dubai is making it easier for crypto businesses to grow with clear rules. Taiwan is introducing stronger regulations to protect users. India is keeping a careful approach by limiting crypto’s role in the banking system. Dubai recently crossed an important milestone after the Virtual Assets Regulatory Authority, or VARA, issued its 50th crypto license. The latest approval went to Tribe Tokenisation FZE. This makes the Dubai crypto hub one of the busiest regulated…

Coinbase India Prioritizes INR Rails, Compliance, and Security After Resolving Early Launch Issues Coinbase India has admitted that its return to the country did not begin as planned. After reopening services on June 1, many users faced sign-up problems, delayed deposits, and KYC issues. Now, the company says those early problems have been fixed and the next 12 months will focus on building a stronger platform. During a media interaction, Coinbase India and EMEA Product Lead Roshan Prabhakar said the company expected heavy demand after its return. Many users signed up immediately after the announcement. Instead of getting instant access,…

RBI Opposes Crypto Legalization While ICAI Calls for a Clear Legal Framework for Digital Assets in India India’s central bank has once again made its position on cryptocurrencies clear. The RBI has told the Parliamentary Standing Committee on Finance that crypto legalization in India should not happen at this stage. According to the central bank, Virtual Digital Assets (VDAs) could create serious risks for the country’s economy and financial system. The committee held a meeting to discuss the future of Virtual Digital Assets in India. During the discussion, RBI officials said cryptocurrencies are still difficult to regulate. Many crypto transactions…

Sriki Bitcoin Scam: Court Flags 3,52,000 USDT Transactions as ED Tightens Money Laundering Probe A Bengaluru court has brought fresh attention to the Sriki Bitcoin scam after recording findings on a large cryptocurrency laundering network. The order named Srikrishna Ramesh alias Sriki as the prime accused and described an elaborate trail that allegedly converted stolen digital assets into spendable money through multiple accounts and intermediaries. The findings became public on June 25 after the Principal City Civil and Sessions Court denied regular bail to businessman Sunish Hegde and anticipatory bail to co-accused Prasidh Shetty. The court relied on material presented…