Page 24 - Cryptocurrency

Indian crypto companies welcome crypto push at G20, expect clear framework

On Saturday, a chunk of G20 member nations said they want to start an exchange of information on such non-financial assets by 2027

India to decide on crypto, IMF-FSB paper to act as bottom line: Official

India will decide on implementing cryptocurrency regulations after extensive discussions with other countries, a senior official said on Sunday, virtually ruling out a ban on such assets. Ahead of G20 leaders' summit, the IMF and the Financial Stability Board (FSB) had last week made a strong case for a coordinated global policy action to deal with risks posed by cryptocurrencies and said that there should not be any blanket ban. The IMF-FSB recommendations laid out a "roadmap" and suggested "bare minimum" regulations that every country should have on cryptocurrencies. If any country wants to have a more stricter regulation, it can frame a more restrictive regulation depending on the risk it sees from cryptos, the official said. "Now G20 leaders have endorsed it and now ministers and governments will discuss it and take it forward. We expect a lot of discussion to happen on how to implement it faster, swifter and in a comprehensive manner. We have a good framework to decide our own

G20 leaders decide on swift implementation of crypto reporting framework

The G-20 leaders on Saturday decided on swift implementation of the reporting framework for crypto assets, saying a significant number of member nations want information exchange on such non-financial assets to start by 2027. The Crypto Asset Reporting Framework (CARF) or template is being developed to make sure that such non-financial assets are not used by tax evaders to conceal their unaccounted wealth. "We call for the swift implementation of the CryptoAsset Reporting Framework ("CARF") and amendments to the CRS. We ask the Global Forum on Transparency and Exchange of Information for Tax Purposes to identify an appropriate and coordinated timeline to commence exchanges by relevant jurisdictions," said the G20 Leaders' declaration, which was adopted by consensus. The leaders of 20 developing and developed nations have reaffirmed the commitment to continue cooperation towards a globally fair, sustainable and modern international tax system appropriate to the needs of the 21st ...

Crypto wrap: Anticipation of G20 Summit outcome keeps bulls, bears fighting

The G20 Summit, to be held in New Delhi, is expected to provide some clarity on the global regulations on cryptocurrencies

Regulations of global cryptocurrency assets to be focus of G20 summit

Global crypto regulations focus at G20 summit

By Nafis Alam, Monash University, Malaysia

Kuala Lumpur, Sep 7 (360info) Ongoing crypto market instability has prompted a call for global coordination on regulation to fend off attempts to ban or restrict digital currencies in some countries.

The cascade of crypto events in 2022, highlighted by the bankruptcy of crypto exchange firm FTX and its effect on trading and lending firms, underscored the inherent instability and weaknesses in crypto assets.

These incidents also showed a significant service provider collapsing can swiftly spread risks across the crypto-asset framework, making the ecosystem vulnerable.

This in turn affects the wider economy as investments lost in the crypto market are still tied to money circulating in the financial system.

Under the leadership of India's presidency, the G20 countries are poised to introduce what could be recogni

Top headlines: Delhi gears up for G20 Summit, Biden set to travel India

Business Standard brings you the top headlines at this hour

India pushes for crypto, financial issues, MDB reform deals at G20 meet

No consensus yet on issues like bringing 'climate resilient' feature in debt

IMF, FSB to lay down crypto regulation framework for G20 discussion

On international taxation, the sources state that India under the G20 Presidency has recommended
a pillar taxation system on
international taxation

G20 Finance Deputies' meet begins: Crypto norms, debt distress in focus

India's G20 presidency has also put together a summary of various works being done by different institutions towards crypto assets

Discussions on global framework to regulate crypto underway: FM Sitharaman

Sitharaman added that cryptocurrencies can not be regulated efficiently without the cooperation of all countries

Synthesis note on regulating crypto assets circulated among G20 members

Finance deputies to meet this week to discuss debt distress, digital public infra

US court ruling on Grayscale ETF pushes crypto market up, Bitcoin jumps 5%

Grayscale had appealed against the US SEC's decision to reject its proposal for converting its Bitcoin Trust into a spot ETF

Crypto unicorn CoinSwitch lays off 44 employees citing role redundancy

The company has 519 employees, according to its LinkedIn profile. This would mean around 8 per cent of CoinSwitch's workforce has been shown the door

Crypto exchange BitOasis raises funds from investors including CoinDCX

BitOasis earlier this year said it received the first of Dubai's "minimum viable product operational licenses," allowing it to offer broker-dealer services for digital assets to qualified investors

Mastercard, Binance to end crypto card partnership from September 22

The Binance cards allow users to make payments in traditional currencies, funded by their cryptocurrency holdings on the exchange

Cryptocurrency exchange CoinDCX cuts staff by 12% as revenues hit by slump

Last year CoinDCX raised $135 million at a valuation of $2.2 bn from venture capital funds led by Pantera Capital and Steadview Capital Management LLC

Crypto wrap: Global macro uncertainties pull market deep in the red

The uncertainty around Chinese economy, where real estate crisis has touched a new high after Evergrande filed for bankruptcy protection in New York, has also contributed to sell-off in the markets

Bitcoin's extreme volatility vanishes amid 'extreme apathy and exhaustion'

It's an unusual stretch of calm for the token, which has over the years garnered attention for its wild price swings

Coinbase gets approval to offer crypto futures to eligible US customers

Coinbase said it's received regulatory approval to bring federally regulated crypto futures trading to eligible customers in the US, sending shares sharply higher before the opening bell Wednesday. In June, the US Securities and Exchange Commission filed lawsuits against Binance and Coinbase, saying that the companies were in violation of the the law because they were operating as securities exchanges without registering with the agency. Coinbase said Wednesday that it had secured regulatory approval from the National Futures Association to operate as a futures commission merchant. The cryptocurrency exchange said that it filed its application with the association in 2021. Now that it has received approval, Coinbase says eligible US customers will be able to access regulated derivatives products through Coinbase Financial Markets, subject to the oversight of the Commodity Futures Trading Commission and the NFA. The company tweeted that it can now offers cryptocurrency futures ...

Judge sends FTX founder to jail, says crypto mogul tampered with witnesses

FTX founder Sam Bankman-Fried left a federal courtroom in handcuffs Friday after a judge revoked his bail after concluding that the fallen cryptocurrency wiz had repeatedly tried to influence witnesses against him. Bankman-Fried looked down at his hands as Judge Lewis A Kaplan explained at length why he believed the California man had repeatedly pushed the boundaries of his $250 million bail package to a point that Kaplan could no longer ensure the protection of the community, including prosecutors' witnesses, unless the 31-year-old was behind bars. At the conclusion of the hearing, Bankman-Fried took off his suit jacket and tie and turned his watch and other personal belongings over to his lawyers. The clanging of handcuffs could be heard as his hands were cuffed in front of him. He was then led out of the courtroom by US marshals. It was a spectacular fall for a man once viewed by many as a savvy crypto visionary who had testified before Congress and hired celebrities including ..