The post India’s tax office backs RBI’s lean toward crypto prohibition appeared on BitcoinEthereumNews.com.
India’s Income Tax Department has thrown its weight behind the Reserve Bank of India’s push to restrict cryptocurrencies, citing widespread underreporting and the difficulty of tracing offshore trades, according to government documents reviewed by Reuters. The documents, dated May and June, show the central bank restating a position it has held for years. The RBI wants India’s policy on digital assets to be “leaning towards prohibition.” It also wants banks and other financial institutions barred from holding, trading, or taking any exposure to crypto or privately issued stablecoins, stating that such links could spread trouble across the country’s financial system. What is new is the tax department’s public backing. Officials told the government that trades routed through overseas exchanges are hard to monitor, which raises the risk of evasion. In the financial year that ended i
India’s central bank urges crypto prohibition and bank exposure limits as tax officials flag offshore trading risks. India’s central bank has again called for a crypto policy that leans toward prohibition. Reuters reported the position after reviewing recent government documents. The Reserve Bank of India recommended barring banks from holding, trading, or gaining exposure to […]
The post India’s Crypto Crackdown Deepens as Central Bank Urges Ban on Bank Exposure appeared first on Live Bitcoin News.
Rising oil prices could exacerbate inflation, complicating central bank policies and impacting risk assets like cryptocurrencies negatively.
The post Brent crude surges above $80 after US strikes on Iran, dragging crypto markets lower appeared first on Crypto Briefing.
The post Altcoin Market Reaches Extreme Underperformance, 40% of Coins Trade Near Their ATL appeared on BitcoinEthereumNews.com.
One of the major drivers of this underperformance is the low liquidity despite thousands of coins being created and added to the market daily. The bear cycle is heavily affecting altcoins as expected. With bitcoin (BTC) struggling to remain above $60,000, this group of cryptocurrencies is having it worse. A report from the market analysis platform CryptoQuant revealed that about 40% of altcoins are currently trading around their all-time low (ATL). This dynamic reflects an extreme level of underperformance among most projects. Altcoins in Extreme Underperformance According to CryptoQuant analyst Darkfost, the extreme underperformance of altcoins reflects the harsh reality facing projects that chose to launch tokens. The analyst said he initially built the Percentage of Altcoins Near ATL chart to visualize coins trading below 25% of their all-time low, only
The post India: Gradual firming CPI supports RBI patience – Societe Generale appeared on BitcoinEthereumNews.com.
Societe Generale strategist Kunal Kundu expects India’s June 2026 headline Consumer Price Index (CPI) inflation to print around 4.1% year-on-year, slightly above May’s 3.9% but still within the RBI’s tolerance band. Kundu highlights food, fuel and services as key drivers, while noting partial and delayed pass-through from wholesale prices. It argues that competitive conditions, policy buffers and moderate demand should prevent a sustained inflation acceleration. Food, fuel and core inflation dynamics “India’s June 2026 headline CPI inflation is likely to print at around 4.1% yoy, marking a modest acceleration from 3.9% in May while remaining comfortably within the RBI’s inflation tolerance band. The expected increase is less a reflection of broad-based inflationary pressures and more a consequence of a gradual firming in food, fuel and select services categories over recent
The post India Crypto Tax Filings Lagged Trading Activity: Reuters appeared on BitcoinEthereumNews.com.
India’s tax department reportedly found widespread gaps in crypto tax reporting, warning that offshore exchanges, private wallets and peer-to-peer (P2P) trades are making crypto activity harder to track. Reuters on Wednesday reported government documents showed that fewer than a quarter of 645,000 individuals who made crypto transactions in the year ending in March 2023 reported the trades on their tax returns. The department also reportedly estimated that India had about 39 million crypto traders holding over $2.1 billion in crypto at the end of May. The findings add a tax-enforcement factor to the country’s long-running digital asset policy debate, moving the issue beyond the central bank’s financial-stability concerns and into questions on offshore trading and recoverable tax revenue. India was ranked first in Chainalysis’ 2025 Global Crypto Adoption Index. The report comes days
The post Crypto India: RBI Reiterates Crypto Ban Call, but No Policy Change Announced appeared on BitcoinEthereumNews.com.
The post Crypto India: RBI Reiterates Crypto Ban Call, but No Policy Change Announced appeared first on Coinpedia Fintech News The Reserve Bank of India has reiterated its long-standing call for a cryptocurrency ban, according to Reuters. The RBI continues to cite risks to financial stability, monetary policy, and consumer protection. However, the central bank cannot impose a nationwide ban on its own. Any such measure would require approval from the Government of India and … Source: https://coinpedia.org/crypto-live-news/crypto-india-rbi-reiterates-crypto-ban-call-but-no-policy-change-announced/
The post Russia Approves Revised Crypto Bill for Second Reading appeared on BitcoinEthereumNews.com.
Russia’s Financial Market Committee has approved the final version of its crypto bill. The revised bill removes mandatory crypto wallet address reporting, among other changes. Russia proposes a 300,000-ruble annual crypto investment cap for retail investors. Russia has moved one step closer to introducing a comprehensive legal framework for cryptocurrencies after the State Duma’s Financial Market Committee approved the final version of the country’s crypto bill for its second parliamentary reading. The legislation would formally recognize cryptocurrencies as legal property while placing most crypto activity under state supervision. The bill still requires approval in the second and third readings before moving to the Federation Council and, finally, President Vladimir Putin for signing. Lawmakers have also pushed the proposed implementation date from July 1 to September 1, giving regul
