An Indian court has blocked crypto exchange WazirX from reallocating a user’s XRP to cover platform losses. The Madras High Court granted “interim protection,” affirming that the user’s digital assets remain their distinct property under Indian law. The ruling marks a key moment in the country’s evolving crypto jurisprudence. The case stems from WazirX’s plan […]
India and the United States are leading global cryptocurrency adoption between January and July 2025. According to the TRM Labs’ Country Crypto Adoption Index 2025, India retained its top position for the third consecutive year, while the United States held its second-place ranking. Both countries have demonstrated significant momentum so far this year, driven by […]
India’s Goods and Services Tax (GST) authorities have reported a $99.1 million tax evasion case involving 17 cryptocurrency exchanges operating in the country. Nest Services Ltd., a company linked to Binance Group, stands out as one of the most significant offenders. The firm is accused of evading $86.8 million in GST. India Recovers $14.7M in […]
Binance revealed collaborating with the Delhi Police to take down a “sophisticated scam” orchestrated by a fraudulent entity known as “M/s Goldcoat Solar.” According to the press release shared with CryptoPotato, the crackdown resulted in several arrests and the confiscation of more than 100,000 USDT in crypto assets. Solar Scam Busted As part of the […]
In one of the latest collaborations between public and private entities, the world’s largest cryptocurrency exchange, Binance, announced that it helped Indian authorities bust a purported legitimate online gaming app that defrauded users of more than Rs 400 crore ($47.6 million). According to a blog post, the Binance Financial Intelligence Unit (FIU) provided critical aid […]
While Indian crypto users were granted no relief from the draconian tax rules in the country’s budget for 2024-2025, a “discussion paper” outlining its policy stance on the industry could be released before September this year. The main objective behind the discussion paper is to gather inputs from relevant stakeholders on the ideas outlined in […]
In compliance with regulatory requirements, OKX said that it would discontinue its centralized cryptocurrency trading services for residents of Hong Kong starting May 31, 2024. OKX attributed the decision to withdraw its virtual asset service provider (VASP) license application to a “careful consideration” of its business strategy, however, the exchange did not provide further details […]
Binance, once banned by the Indian government, is set to make a comeback after agreeing to pay a hefty penalty of approximately $2 million. According to a report by ET, the world’s largest cryptocurrency exchange is preparing to re-enter the Indian market under the finance ministry’s oversight of the Financial Intelligence Unit (FIU). Binance’s India […]
Mudrex, an Indian cryptocurrency investment platform, intends to introduce U.S. spot Bitcoin exchange-traded funds (ETFs) to target both institutional and retail investors within India, according to CEO and co-founder Edul Patel. The move comes amid India’s latest government action to tighten offshore crypto exchanges regulation. Mudrex to Offer Four Spot Bitcoin ETFs In an interview […]