Author: Simran Mishra

Investigators Recover $12,000 in Crypto, Rs. 13.5 Lakh Cash as ED Traces Bitcoin Money Trail in Hyderabad Scam The Enforcement Directorate (ED) has arrested Vikas Kumar Nimar, also known as Misty, in a major fake call centre scam linked to Hyderabad. Officials said the group cheated many people in the United States and later moved the illegal money into Bitcoin and other cryptocurrencies. The arrest came after fresh ED searches in Hyderabad and Ahmedabad as part of an ongoing money laundering investigation. After taking Nimar into custody, officials took him to Gandhi Hospital for a medical examination before producing him…

New Tool Generates Schedule VDA-Ready Reports Using FIFO Method for Faster Crypto Tax Filing Across Exchanges Indian crypto exchange WazirX has launched Taxlyst, a free crypto tax reporting tool that helps investors prepare their tax reports before the July 31 income tax filing deadline. The platform allows users to upload transaction histories from different crypto exchanges and generate tax reports within minutes. Taxlyst is designed to make crypto tax reporting simple and quick. Many investors use more than one exchange, and calculating taxes manually can take a lot of time. The platform automatically calculates crypto gains, losses, and estimated tax…

Fake Sparrow Wallet Never Existed on iPhone, Lawsuit Says Apple Missed Warning Signs Before $1.8M Losses Apple is facing a lawsuit after three iPhone users claimed they lost nearly $1.8 million in Bitcoin through a fake crypto wallet app on the App Store. The case has raised fresh questions about Apple App Store security and how fake financial apps get approved. The lawsuit was filed in the US District Court for the Northern District of California. According to the complaint, the users downloaded a fake version of Sparrow Wallet from the App Store. After moving their Bitcoin into the app,…

Crypto Exchanges Must Verify Tax Residency and User Details Under CBDT Rules From 2026 to Improve Transparency The Central Board of Direct Taxes (CBDT) has come up with a new Crypto Reporting Framework. It introduces clear rules for Indian crypto exchanges in terms of reporting crypto transactions. The new guidelines will apply from the 2026 calendar year and aim to improve tax transparency without changing the current crypto tax system. Under the new framework, crypto exchanges and other crypto service providers must identify users who need to be reported. They must also verify each user’s tax residency and collect the…

UK Court Hears Crypto Scam That Allegedly Used Fake Police Calls, One Victim Lost Over £300K as CJ Ujah Pleads Not Guilty

OECD CARF Alignment Gives India Better Crypto Transaction Tracking as Industry Expects Clearer Digital Asset Rules India has strengthened oversight of the cryptocurrency sector after the Central Board of Direct Taxes issued fresh guidance for crypto reporting under the Income Tax Act. The move focuses on stronger tax compliance while signaling that a broader policy for virtual digital assets could follow in the coming months. The guidance operationalizes the OECD’s Crypto Asset Reporting Framework, bringing India closer to global tax transparency standards. Crypto exchanges and other virtual digital asset service providers must now follow detailed reporting requirements, allowing tax authorities…

ED Seizes Rs. 3 Crore, Tracks Crypto Wallets, Offshore Accounts in Global Drug Money Probe The Enforcement Directorate (ED) has arrested Dubai based Indian national Nihal V.N. for allegedly operating a crypto hawala network that helped international drug syndicates move illicit money across borders. Officials produced him before a Special PMLA Court in Goa, which granted the agency seven days of custody until July 28 for further investigation. Investigators alleged that Nihal worked as a major financial link for narcotics groups active across several countries. The agency claimed he converted cash generated from drug sales in India into cryptocurrency and…

Finance Panel Backs Self-Regulatory Organizations (SRO) as Interim Step to Protect India’s 12 Crore Crypto Investors Before VDA Law India’s Parliamentary Standing Committee on Finance has asked the government to bring a clear VDA framework for Virtual Digital Assets, including cryptocurrencies. The panel said the fast-growing market needs proper laws to protect investors and remove confusion around digital assets. The recommendation came in the committee’s report on the proposed Securities Market Code. According to the panel, crypto assets remain outside a dedicated legal framework, even though the government already taxes them and monitors transactions under anti-money laundering rules. This gap…

NIA Says Recruits Were Told To Create Fake IDs, Buy Weapons, Travel Abroad For Terror Training

WazirX Sees 300% Jump in Futures Trading as Returning Crypto Investors Boost Market Confidence India’s crypto investment landscape is expanding beyond major cities as millennials from smaller towns continue to drive cryptocurrency adoption. WazirX’s latest 2026 report reveals that more than 82% of its verified users now belong to non-metro India, highlighting a major shift in the country’s digital asset market. The findings also suggest investor confidence has improved steadily since the platform resumed operations earlier this year. The report shows crypto participation no longer revolves around Bengaluru, Mumbai, Delhi, or Hyderabad. Growing internet access, stronger digital payment infrastructure, and…