Latest News for: Offshore crypto trading

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Binance Set for Indian Comeback with $2 Million Penalty

CryptoPotato 19 Apr 2024
After the government authorities implemented the 1% TDS on cryptocurrency trading in July 2022, Indian exchanges recorded a nearly 90% decline in trading volume. Instead, traders flocked to offshore crypto exchanges, including Binance ... ....
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Hong Kong set to approve its first spot bitcoin ETFs in April: Report

Live Mint 10 Apr 2024
... China, offshore Chinese financial institutions have been keen to participate in crypto asset development in Hong Kong.Hong Kong approved its first ETFs for cryptocurrency futures in late 2022.
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Hong Kong set to approve its first spot bitcoin EFTs in April, sources say

Gulf News 10 Apr 2024
It was trading at around $69,000 on Wednesday ... Although cryptocurrency trading is banned in mainland China, offshore Chinese financial institutions have been keen to participate in crypto asset development in Hong Kong.
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Bitcoin Leveraged Bets Surge Amid Strong Demand for Bitcoin Futures ETFs

CoinGape 13 Mar 2024
Conversely, offshore entities frequently turn to options contracts on Deribit and perpetual futures without expiration dates on platforms like Binance, which are among the favored products for crypto traders.
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The rise of crypto fraud in India

Cryptopolitan 18 Feb 2024
To counteract this, the government has increased its surveillance of illegal crypto trading activities and issued show cause notices to nine offshore bitcoin exchanges for violating India’s anti-money ...
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Crypto Scams Rise in India as Another Consulting Executive Faces Fraud

CoinGape 17 Feb 2024
Crypto scams in India have risen significantly in the past couple of years ... To combat this grieving situation the Indian government has been increasing its scrutiny over illicit crypto trading sectors.
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Rich face crypto dilemma: To bet or not via foreign route

The Economic Times 09 Feb 2024
Unlike direct purchase of cryptos, investing in an ETF is subscribing to units ...
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Binance In Talks With The Indian Government To Resume Operation In India

Bitcoin World 08 Feb 2024
Earlier, the government blocked nine offshore crypto platforms’ websites and mobile apps ... It is estimated that nearly $4 billion worth of crypto belonging to Indian traders is stored in offshore wallets.
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Indian government announces budget, no change to strict tax policy on crypto assets | CoinDesk JAPAN

OBN 01 Feb 2024
The government did not reduce TDS tax rates in the past two years, but last month took action against offshore crypto exchanges, resulting in crypto trading returning to Indian exchanges.
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Crypto Scam: Indian State Grapples With Another Fraud Worth $1.8 Million

CoinGape 27 Jan 2024
In the wake of rising crypto scams in India, the state of Odisha is again surfacing in the headlines ... To combat this grieving situation the Indian government has been increasing its scrutiny over illicit crypto trading sectors.
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Crypto industry bats for lower taxation and a standardised regulatory framework

Business Line 21 Jan 2024
The crypto exchanges in India have been losing trading volumes on the platform since the introduction of taxation as crypto users moved to offshore exchanges.
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CoinDCX to invest in KoinX to support easy crypto tax compliance

Financial Express 16 Jan 2024
... to facilitate a secure crypto trading experience for its users ... “In line with CoinDCX’s plan to ensure a compliant crypto trading journey, we plan to offer a one-click solution within the app.
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Binance confirms Apple India App Store exchange removal amid regulatory concerns

Cryptoslate 10 Jan 2024
... local crypto exchange platform CoinSwitch, attributed the removal to India’s Financial Intelligence Unit (FIU) show cause notice sent to several offshore crypto trading platforms last December.
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Binance and 9 other exchanges blocked from Apple’s app store in India

Invezz 10 Jan 2024
The move comes as Indian crypto traders shifted their investments to offshore exchanges after the country imposed taxes on digital asset incomes in 2022 ... Traders also incur a 1% tax at source for each crypto trade made.
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Indian crypto exchanges see record surge following FIU crackdown

Cryptopolitan 06 Jan 2024
Other Indian crypto exchanges like CoinSwitch and WazirX have also seen increases in trading volumes and crypto deposits ... and whether the government provides clearer guidelines for crypto trading.
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