EUR/USD 1.03273
-0.537%
Gold 2860.60
0.175%
Oil 70.773
0.621%
USD/JPY 151.299
-0.100%
GBP/USD 1.24069
-0.224%
GBP/JPY 187.716
-0.279%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On February 9, US President Trump said he had spoken with Russian President Vladimir Putin in an attempt to end the Russia-Ukraine conflict through negotiations. Trump said he was not in a position to reveal the exact number of calls between the two leaders. He said, "He (Putin) wants to see people stop dying." In addition, Trump said he had a practical plan to end the Russia-Ukraine conflict and blamed former President Biden. As of press time, no official Russian response to the above news has been seen.According to TASS: Russian air defense forces destroyed 35 Ukrainian drones overnight.February 9th news: Recently, earthquakes have continued to occur near Santorini Island in Greece, which has attracted attention. According to monitoring data from the Institute of Geodynamics of the National Observatory of Athens, from 0:00 to 12:00 noon on February 8, local time, 11 earthquakes with a magnitude of 4.0 or above occurred near Santorini Island, with the largest magnitude being 4.9. Greek geologists said that this earthquake pattern near Santorini Island is relatively rare and may continue for some time.On February 9, the "Implementation Measures for Company Registration Management" (hereinafter referred to as the "Implementation Measures") will be officially implemented on February 10. One point that has attracted much attention in the "Implementation Measures" is to open up an exit channel for "zombie enterprises" and to precisely crack down on "professional store closures". The combination of these two measures will effectively promote the "metabolism" of business entities.On February 9, Japanese Prime Minister Shigeru Ishiba said that Nippon Steel will invest in U.S. Steel, which will remain an American company. "This is not a simple acquisition of U.S. Steel," Ishiba said on Sunday, "It will continue to be an American company, managed by Americans and with American employees." His remarks echoed U.S. President Trumps earlier comments that Nippon Steel "has agreed to invest in U.S. Steel rather than seeking a direct acquisition."

Indian Crypto App CoinSwitch Chief Insists Clear Rules on Digital Coins

Jimmy Khan

May 24, 2022 09:40

微信截图_20220523175321.png


According to CoinSwitch CEO Ashish Singhal, creating crypto standards will eliminate regulatory ambiguity in India and protect investors.

 

Cryptocurrency legislation is gaining a lot of traction throughout the world, but it seems to be a genuine puzzle in India. Despite seeming to have reached a decision on crypto taxes, the Indian government is still working on a framework for the industry.


Furthermore, the cryptocurrency industry in the nation has recently grown in popularity, particularly among the youth. According to a Chainalysis research, India is one of the world's fastest-growing crypto marketplaces, with a 641 percent increase from July 2020 to June 2021.

The CEO of CoinSwitch Wants More Clarification on Cryptocurrency Regulation

Various crypto sector firms in India have asked the government for clarification on cryptocurrency legislation. Even India's Supreme Court has requested the government to clarify if bitcoin (BTC) is lawful.


In the midst of the controversy, India's leading crypto app CoinSwitch's CEO Ashish Singhal appealed for regulatory "peace and predictability" on Sunday. He believes that this will help to alleviate the present uncertainties and protect crypto investors.


He emphasized his worries about the various uncertainties that crypto holders in India face at the World Economic Forum in Davos. "Users don't sure what will happen with their assets — is the government going to prohibit, not ban, how will it be regulated?" he told Reuters.


In addition, he emphasized the need of rules. "Regulations will offer tranquility and greater predictability," Singhal said.


CoinSwitch has a market valuation of $1.9 billion and over 18 million users, despite delisting stablecoins TerraUST and LUNA after the Terra network's failure. A16Z, Tiger Global, and Coinbase Ventures are among the investors in the Bengaluru-based startup.


CoinSwitch, like other major exchanges, has blocked rupee deposits, making it more difficult for consumers.

Filling regulatory loopholes

Having 'clarity' in crypto legislation, according to Singhal, might provide comfort to holders and enhance the country's crypto business.


The latest tax adjustments, new crypto advertising restrictions, and the recent ban on celebrity endorsements, according to Singhal, are still important efforts to simplify the business.


Coinbase, a global cryptocurrency exchange, opened in India in April. It stopped using an inter-bank money transfer service weeks after it was launched (UPI). The Reserve Bank of India and the government have been pressuring the exchange to disable the UPI payment facility, according to the exchange's CEO.


Given the decentralized nature of digital assets, Singhal said that authorities are concerned about criminal actors. Furthermore, citing financial instability, the central bank approved the prohibition of cryptocurrency. The RBI was concerned that cryptocurrency may lead to an economy's "dollarization."


"We are pressing for restrictions," Singhal remarked. We can get clarity with the correct legislation."

Suggestion