Author: Simran Mishra

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…

Bybit Introduces Cricket Ball Catch Game With Free Crypto Rewards to Drive User Growth Across India Bybit has launched a new cricket-themed campaign in India to attract more users to its crypto platform. The company has selected cricket for the campaign since the sport has a massive following across the country. Bybit hopes the new game will bring in more users while keeping existing users active during the cricket season.  The Bybit cricket campaign comes with a simple online game. Players catch falling cricket balls on the screen to collect reward points. They can later exchange those points for free…

Bitcoin-Backed Loans Stay Costly at 7.5% – 16% APR Even as Institutional Demand Pushes Market to $67 Billion Bitcoin lending is entering a new phase as more banks and financial institutions join the market. A new report from Silicon Valley Bank says the industry has become stronger after learning important lessons from the crypto credit crisis in 2022. Better risk management, stronger lending rules, and higher transparency now support the market’s growth. The report explains that Bitcoin lending has changed significantly over the past few years. Earlier, many crypto lending companies followed risky business models with weak controls. Those problems…

USDT Supply Crunch in India Drives 8.5% Premium as Tight Liquidity Pushes Stablecoin Costs Higher India’s crypto market is seeing a sharp rise in the USDT premium, with traders paying much more than usual for Tether’s stablecoin. The price of one Tether USDT recently touched around Rs. 102.88, while the official US dollar exchange rate stood near Rs. 94.65. This pushed the premium above 8.5%, far higher than the usual three to 4%. The sudden jump does not mean USDT has lost its value against the US dollar. Instead, it shows that India currently has fewer USDT tokens available while…

Framework Ventures Says $300B Stablecoin Market Could Unlock New Funding for AI, Robotics, and Clean Energy Crypto investment firm Framework Ventures believes blockchain has a much bigger future than just supporting cryptocurrency projects. The company now wants to use blockchain to help fund industries such as artificial intelligence, robotics, and clean energy. The San Francisco-based venture firm has launched a new $400 million investment fund to support this idea. The fund will back startups working with blockchain, tokenization, and stablecoins while building real-world technology. Blockchain Expands Beyond Traditional Crypto Framework Ventures cofounder Michael Anderson said the crypto industry is changing.…

Higher USDT Costs Make Bitcoin and Solana Trades More Expensive as India’s Stablecoin Supply Tightens India’s crypto market is facing a shortage of stablecoins, pushing the USDT premium above 8.5%. The sharp rise shows that fewer USDT tokens are available in the country after recent action by the Enforcement Directorate (ED). USDT is the world’s largest stablecoin and usually matches the value of one US dollar. Since India does not produce or issue USDT locally, exchanges depend on supplies coming from overseas. This often keeps USDT prices slightly higher than the official dollar rate in India. USDT Prices Rise as…