The government reportedly plans to release a discussion paper before September, outlining its stance on crypto-related policies in the country, and crypto stakeholders — including the Bharat Web3 Association (BWA) — have already expressed their readiness to take part in the process. The paper is expected to pave the way…
The crypto sector in India is comprised of both national and international exchanges, offering hundreds of cryptocurrencies for investors, similar to trading on the stock market. This week, Mumbai-based WazirX, a widely used crypto exchange in India, fell prey to cybercriminals who managed to steal over $230 million (roughly Rs….
Indian crypto exchange WazirX informed its users about a security breach on Thursday, that reportedly led to suspicious movement of funds worth $234.9 million (roughly Rs. 1,965 crore) into a Tornado Cash-linked wallet. Many crypto investors in India have expressed apprehension about the potential loss of user funds. WazirX’s rivals…
India’s CoinSwitch crypto exchange published the third edition of its Proof of Reserve (PoR) on Thursday, May 23. The report claimed that the worth of total consumer holdings on CoinSwitch, including both cryptocurrencies and INR, stood at Rs. 2, 774.10 crore as of March 31, 2024. The exchange also disclosed…
WazirX disclosed the trajectory of its business this year only to give an insight into the slump spell that the crypto market is under as India awaits to complete regulatory deployments to oversee the sector. The Indian crypto trading platform, in 2023, managed to generate around $1 billion (roughly Rs….
CoinSwitch, one of India’s recognised crypto exchanges, is expanding its services portfolio to attract more users onboard its platform. In an announcement shared this week — the exchange launched a new feature called ‘Earn’. Through this, CoinSwitch will let users ‘lock-in’ their crypto assets and earn rewards in the form…
The global crypto market, that is currently undergoing a slump, could be losing community members who do not have an appetite for risky investments at the time. This impact of the slowdown has been highlighted by crypto exchange CoinSwitch after it laid off 44 employees earlier this month from its…
CoinSwitch, a prominent player in India’s crypto space, has released a status update around its Web3 Discovery Fund, that was announced last year. The ventures arm of the crypto exchange claims to be helping Web3 startups in India with a subsequent funding of nearly $25 million (roughly Rs. 206 crore),…
India’s contribution in the development of Web3, metaverse, and blockchain could increase multi-fold, if more Indians engaged with the digital assets sector, according to PayBito chief Raj Chowdhury. India’s current tax regime on the digital assets sector, Chowdhury believes, is restricting the growth potential of the sector in the country….
Giottus, an Indian crypto exchange, has taken a bold step to mark its impression in the crypto sector and make it to the headlines. Amid silence from rival crypto exchanges on the subject, Giottus has said that it will provide proof of reserves in order to add another layer of…
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