Cryptocurrency

In December 2025, Pakistan allowed global exchanges Binance and HTX to receive preliminary approvals as the government accelerates crypto adoption

These acquisitions come at a time of a favourable regulatory environment for the sector in the United States (US), with further plans to scale in markets where regulations are favourable

Crypto may promise big gains, but weak enforceability, custody risks and fading returns make it a high-risk bet best suited only for "mad money", not long-term goals

Selfie with liveness detection, recording of geographical coordinates, and verification of bank account by the 'penny-drop' method are among the mandatory new measures listed by India's financial intelligence agency under the anti-money laundering and terrorist financing KYC protocols for cryptocurrency exchanges while onboarding users. The directives also discourage Initial Coin Offerings (ICOs) and Initial Token Offerings (ITOs), equivalent to IPOs in stock markets, by the exchanges. They say that tumblers, mixers, and anonymity-enhancing tokens-linked transactions shall "not" be facilitated. PTI has reviewed the updated set of guidelines brought out by the Financial Intelligence Unit (FIU), a body that functions under the Union Finance Ministry, on January 8 as part of the 'anti-money laundering (AML) and combating financing of terror (CFT) guidelines for reporting entities providing services related to virtual digital assets (cryptocurrency).' The guidelines have been updated .

A total of 49 crypto currency exchanges, a majority of them based in India, were registered with the Financial Intelligence Unit (FIU) during the 2024-25 fiscal as part of the country's legal regime to mitigate anti-money laundering and terrorist financing risks emerging from this sector, according to a report. Also, a "strategic analysis" of suspicious transaction reports (STRs) generated and furnished by these exchanges to the federal agency found "exploitation" of crypto funds for "serious" criminal activities like hawala (unaccounted) transactions, gambling, scam, fraud and an instance of operating an illegal adult content website. In legal parlance, crypto currency is called Virtual Digital Asset (VDA) and the exchanges that trade them are called VDA Service Providers (VDA SPs). These exchanges were brought under India's anti-money laundering regime (Prevention of Money Laundering Act PMLA) linked reporting system in 2023. Being reporting entities under the PMLA, these exchange

Bitcoin, analysts said, benefited from its safe-haven narrative, short-covering near key levels of $91,500-$93,000, and robust stablecoin inflows

RBI reiterated its cautious view on crypto assets and stablecoins, stressing that CBDCs should remain the anchor of trust and the core settlement asset in the monetary system

With clearer regulations and growing institutional involvement, analysts believe, the crypto landscape is poised for transformation in the year ahead.

In its Financial Stability Report, RBI said central bank money must remain the ultimate settlement asset, warning that stablecoins pose macrofinancial risks and can weaken capital controls

As digital assets continue to operate in a tightly regulated environment, the sector, analysts said, has displayed significant resilience, innovation, and growing integration into the broader system

.

.

From Sebi's investor-friendly rule changes and PM Modi's West Asia tour to debates on power grid reform, shrimp exports and a Zomato biography, here's today's Best of BS Opinion.

Younger investors continued to dominate activity in the final quarter of the year. On an annual basis, however, the 26-35 age group led, accounting for 45 per cent of all crypto investors

CoinSwitch's 2025 report shows non-metro regions now account for over three-quarters of India's crypto activity, led by Uttar Pradesh and strong participation from Tier-2 and smaller cities

CoinSwitch co-founder says tier-2 and tier-3 cities drive 76 per cent of activity as women investors reach 12 per cent of user base

Sankar highlighted that stablecoins do not serve any purpose that cannot be served by fiat money

India is currently running a retail and wholsesale pilot for its central bank digital currency, which has about 7 million users

Once search or survey begins, even updated return may not be allowed

One-time cryptocurrency mogul Do Kwon was sentenced Thursday to 15 years in prison after a USD 40 billion crash revealed his crypto ecosystem to be a fraud. Victims said the 34-year-old financial technology whiz weaponised their trust to convince them that the investment -- secretly propped up by cash infusions -- was safe. Kwon, a Stanford graduate known by some as "the cryptocurrency king," apologised after listening as victims -- one in court and others by telephone -- described the scam's toll: wiping out nest eggs, depleting charities and wrecking lives. One told the judge in a letter that he contemplated suicide after his father lost his retirement money in the scheme. Engelmayer said the government's recommendation of a 12-year prison sentence was "unreasonably lenient" and the defense's request for five years was "utterly unthinkable and wildly unreasonable." Kwon faced a maximum sentence of 25 years in prison. "Your offence caused real people to lose USD 40 billion in real