XRP Wallets You need 20 XRP to activate a XRP wallet. Fees can be changed by the validators through the voting process. The reserve requirement protects the XRP Ledger from spam or malicious usage.
When you are sending XRP to an exchange, destination tag is very important. Destination tag is not needed when you transfer XRP to your own wallet address.
● XUMM by XRPL Labs | Developers XUMM is a free app (iOS and Android) that makes sending, receiving and interacting with the XRP ledger easy & secure.
Tools Check XRP wallet balance - Bithomp | Graph | Transactions Print raw information about an account, a transaction or a ledger - RPC Tool
Exchanges The best way to support XRP is to buy/sell XRP directly with your local currency, not with USDT, ETH, LTC, or BTC. Available XRP pairs - AUD, BRL, CAD, CNY, EUR, GBP, IDR, INR, JPY, KRW, MXN, PHP, RUB, THB, TRY, UAH, USD, ZAR. You can find the complete list of XRP exchanges and supported XRP/fiat pairs Here.
Wild West to crypto best: how compliance separates cowboys from champions
At the heart of early cryptocurrency was the ideal that cross-border transactions could exist outside the system, untraceable and pseudonymous. That’s about to change. The Financial Action Task Force (FATF) is one of the most powerful standards-setting bodies on the planet, and as reported by Bloomberg, is due to recommend the most important regulatory change ever to hit the cryptocurrency industry. There’s a new sheriff in town for crypto. The FATF wants regulators to instil recognisable user data at the heart of all new rules on cryptocurrency trading and transactions. The imposition of this so-called ‘travel rule’ represents a trying time for the industry. Blockchains are not, on the whole, designed to register this kind of on-chain identifying information. Some would argue that forcing old-tech rules onto crypto will decrease transparency, not improve it. But whether the rule comes to fruition or not in its current form is a moot point. The outcome is the same: major players will be forced into closer collaboration with regulators and with one another. And as we know, fully-regulated businesses can attract better, more secure funding from more sophisticated investors. Kay Why See From Malaysia to San Marino, Switzerland to Wyoming, forward-thinking states and nations are writing laws to pull digital asset exchanges into their day-to-day oversight. Reputable and regulated exchanges – just as in the mainstream equity world – require investors to identify themselves if they want to buy crypto-assets. This is because modern money transfer laws all require some level of Know Your Customer (KYC) process to identify where money has come from, and where is it going. Even Shapeshift, once the darling of the anonymity crowd, has had to fall in line. CEO, Erik Vorhees, announcing the layoff of a third of its workforce, admitted that failing to prepare to share user data for KYC had devastated the company financially. Those that can prove they will work with the system, not against it, will be allowed to reap the rewards. As proof, the world’s largest digital asset exchanges will sit down with global policymakers in Japan later this month for a crucial meeting to determine how the FATF proposal will affect the industry. The meeting, which coincides with the G20 summit in Osaka, will count exchanges like Coinbase, Kraken, Huobi and the Goldman Sachs-backed, Circle among its numbers. As digital asset professionals we need to be in close contact with regulators, putting forward our case and making sure the benefits of what we bring to the table are heard. Facebook creates crypto buzz Facebook’s Libra cryptocurrency has ignited mainstream interest in the space once again. Technical details of the project have now been shared in a 29-page whitepaper, borrowing from Bitcoin and Ethereum to power a new global currency. And regulation was there from the beginning. Libra, Bitcoin and Ethereum putting crypto on the map. It’s no accident that Mark Zuckerberg went to the Commodity Futures Trading Commission (CFTC) to talk about how his in-house crypto would work, long before it ever came to market. The cynicism and suspicion that once characterised regulatory approaches to crypto assets is on the way out, too. In fact, the CFTC, which oversees the US derivatives and futures market, has grown much fonder of blockchain. Officials even suggested in a June 2019 speech to the Italian securities regulator, CONSOB, that blockchain-based records could have helped to prevent the 2008 financial crisis. Outgoing chairman J. Christopher Giancarlo said: “Imagine if regulators could have viewed a real-time distributed ledger […]to recognise anomalies in market-wide trade activity and diverging counterparty exposures indicating heightened risk of bank failure?” He added: “What a difference it would have made a decade ago if blockchain technology on a private distributed ledger accessible to regulators had been the informational foundation of Wall Street’s derivatives exposures. At a minimum, it would certainly have allowed for far faster, better-informed, and more calibrated regulatory intervention instead of the disorganised response that unfortunately ensued.” Fintech firms should not be afraid of regulators. Quite the opposite: close collaboration is key. The right conversations at the right time can transform your prospects and bring funding to the table. Inside, not outside At one time cryptocurrency was content to exist outside the financial mainstream. Its anonymity made it a pariah, its volatility a joke, a bogeyman to scare financial advisers and bring them out in a sweat late at night. But this scrappy outsider is changing its ways. The market is maturing. It was unthinkable 10 years ago that Bitcoin could become a stalwart of the financial system. But here we are. What was once underground is now mainstream. Perhaps related is the fact that the US Security and Exchange Commission’s Office of Compliance Inspections and Examinations has ramped up investigations by 10% year-on year and marked out digital asset broker-dealers, exchanges and traders for special attention in its 2019 priorities list. Where once large investors saw only risk in digital assets, they now see opportunity. These are pension funds and hedge funds, those whose job it is to allocate assets for millionaires and billionaires, and who control the future purchasing power of entire populations. Dow’s Marketwatch explains how institutional investors are now bullish on crypto, backed by record highs in the Bitcoin futures market. When the owner of the New York Stock Exchange launched digital asset exchange Bakkt in 2018, the veil was lifted and the idea that cryptocurrency would be relegated to a mere sideshow ended. Bakkt will begin testing its Bitcoin futures and custody in July 2019. Interdealer broker, ICAP, is entering Bitcoin derivatives, too. This $568 million-a-year revenue business looks after trades for investment banks and large asset managers. Speaking to Bloomberg, the joint head of digital asset markets Duncan Trenholme admitted: “Every institution is on an educational journey. Many are exploring how tokens can legitimately be traded or stored and I’d expect more projects to hit the market over the next year or two.” Note that key word. Legitimately. Within the rules. The question we face is not whether regulation is necessary for digital assets, but how digital asset businesses can best work with regulators. Looking forward Securing the correct licence can transform the value of fintech assets. Working within the system and fulfilling compliance obligations is costly, sure. In fact, regulatory costs for financial institutions could double in the next decade. But financial regulators can open massive markets for the best fintech products. Some economies, like South Korea, have recognised the industry’s huge potential but aspects of regulation like cryptocurrency taxation still exist in a legal grey area. Others, like India, are moving to follow a shadow banking ban for cryptocurrency firms with an incredible 10-year jail sentence for trading in digital assets. Large Indian crypto-exchanges like Zebpay and Coinome, have been forced to shut their doors in such a harsh and uncertain regulatory environment. At the same time, one of India’s largest and most powerful tech lobbies is trying to make the case to the central bank for legalisation and regulation. These conversations are vital. Maxim Bederov One example we should all watch closely is that of Switzerland’s SIX exchange. It became the first in the world to debut an exchange traded product for cryptocurrency. Now, the Amun Crypto Basket, tracking the prices of Bitcoin and Ethereum, sits happily alongside exchange-traded products (ETPs) for gold, oil, silver and other traditional commodities. Amun had a keen eye for regulatory standards and is reaping the rewards. It should come as no surprise that the most recent ETPs listed on SIX are all by Amun. Single-asset funds for Ripple and Ethereum arrived in 2019, for example. By contrast the last new traditional commodity ETPs debuted way back in 2013. This is fintech working at its best, disrupting the market with the regulator’s backing, attracting institutions and setting the new standard for investment. By Maxim Bederov * More Details Here
Why Cryptocurrencies like Bitcoin are always costly on Indian Exchanges such as Koinex?
I am not very experienced in Trading, but yes, I have invested in some crypto. Previously, the price fluctuation was according to International Market. But after RBI (reserve bank of India) rules, exchanges like koinex and zebpay are keeping the price of coins like Bitcoin very high. There is almost 50,000 rupees ($700 USD) of difference than the International exchange price. I understand that the price functions according to buyers and sellers. But, how is it possible that even after a strong dip in the Bitcoin, there is only slight movement in the price? Nobody is willing to sell at a lower price? Either something is wrong, or maybe I don't know how they work. Can someone please shed some light on the reason behind this? Also, is there is any cheaper or better way to buy currencies from India? I tried finding some answers, but they are all very old and does not work anymore.
Reddit, what are the taxes on crypto which someone has been holding since years with no buy price? Please help. [ASK]
Using a throwaway for this. I am a 17 y/o turning 18 next week. So, basically 18 but I think this might be relevant for taxes. I have held Bitcoins since 2011-12 where I got them for free on some posts on bitcoinforum when they were practically worthless. I have sold a few lakhs worth last year (2016) on my mom's account and since the total income was <5 Lakh, it didn't matter. Over the last year, I have traded them a little bit too with other altcoins. Now my crypto portfolio has approached ₹1 Cr and I think it's time to sell 'em all. So, I have the following questions:
Where to sell OTC? This is now a relatively large amount. I think Zebpay does offer large volume OTC so it's not really a big deal
What should be considered the origin of these coins? I have access to my 2014 wallets onwards. I seem to have lost my previous wallets. Could I just say mined in 2014 which I can proved with a crypto-signature? Or something else?
I don't think it's worth it showing alt-trades. Because if I would count from 2011, there would be thousands of them and many of those exchanges are now dead too. And if I do show them, how are the taxes on the individual trades calculated. I trade in USD exchanges and BTC exchanges. Would I show profit in USD or BTC or convert it to eq. INR. It's too much headache-y.
We don't really want to do tax-evasion but we want to know how we can pay as less tax as possible with our situation.
We are going to go see a CA soon, but wanted a second opinion on Reddit. So don't judge me.
It's also a question whether we should sell it this tax year or the next because there are chances Bitcoin would be officially regulated by March '19. Or maybe illegalised. Who knows with this current govt, RBI and SEBI making mixed statements?!
XRP Wallets You need 20 XRP to activate an XRP wallet. Fees can be changed by the validators through the voting process. The reserve requirement protects the XRP Ledger from spam or malicious usage.
When you are sending XRP to an exchange, destination tag is very important. Destination tag is not needed when you transfer XRP to your own wallet address.
● XUMM by XRPL Labs | Developers XUMM is a free app (iOS and Android) that makes sending, receiving and interacting with the XRP ledger easy & secure.
Tools Check XRP wallet balance - Bithomp | Graph | Transactions Print raw information about an account, a transaction or a ledger - RPC Tool
Exchanges The best way to support XRP is to buy/sell XRP directly with your local currency, not with USDT, ETH, LTC, or BTC. Available XRP pairs - AUD, BRL, CAD, CNY, EUR, GBP, IDR, INR, JPY, KRW, MXN, PHP, RUB, THB, TRY, UAH, USD, ZAR. You can find the complete list of XRP exchanges and supported XRP/fiat pairs Here.
Cryptocurrencies are mostly negative as US CFTC Chairman says coders may be liable for predictive event smart contracts
Crypto News
A study conducted by the Depository Trust and Clearing Corporation (DTCC) finds that distributed ledger technology possesses the scaling capabilities to support the daily trading volumes of the entire US equity market. The 19-week study found that distributed ledger technology can support the US equity market’s peak volume rates of 115,000,000 daily trades, or 6,300 trades per second. The study by the DTCC was conducted in partnership with global professional services company, Accenture, and enterprise blockchain software firm, R3.
BTCC, China’s first ever Bitcoin exchange, is planning to launch trading services in South Korea. According to South Korean news outlet, The Investor, BTCC is set to launch beta services for cryptocurrency trading in South Korea later in October while planning to make its official debut this November. BTCC will offer South Koreans a trading platform, cryptocurrency wallet services, a mining pool, and a service that enables peer-to-peer customer payments. Founded in 2011, BTCC was once a top three cryptocurrency exchange in China before facing pressure from regulators prior to the Chinese cryptocurrency ban in September 2017.
Coinbase Pro listed its first Ethereum-based token, 0x (ZRX), earlier this week and savvy cryptocurrency traders were able to cash out on a 35% pay day as a result. After listing the token on Coinbase Pro, ZRX’s price spiked nearly 40%, a situation known as the, “Coinbase Effect”. Coinbase is by far the largest cryptocurrency exchange in the United States and is valued at USD$8 billion with millions of users -- a common side effect of listing a new token on its exchange is a double-digit price move that shortly follows. Several individuals, however, took positions just before Coinbase listed ZRX on its exchange, raising concerns of insider trading, a charge Coinbase has denied in the past.
Monero (XMR) is becoming the first cryptocurrency worth more than USD$1 billion to test Bulletproofs, a highly anticipated technology that makes blockchain privacy features more scalable. Designed by cryptographers Benedict Bunz and Jonathan Bootle, Bulletproofs offers a way to reduce the weight of confidential transactions. Bulletproofs is a solution Monero desperately needs, as the privacy coin has experienced “Blockchain bloat” due to the large size of its confidential transactions. The Bulletproofs solution should also help to lower transaction fees for trading XMR.
Speaking at an event in Dubai on Tuesday, Brian Quintenz, a commissioner of the US Commodity and Futures Trading Commission (CFTC), said that smart contract coders could be held liable if they knowingly create functions using blockchain technology that are predictive and deemed as “event contracts”. While at the event in Dubai, Quintenz said, “Essentially, these contracts would allow individuals to bet on the outcome of future events, like sporting events or elections, using digital currency. If your prediction is right, the contract automatically pays you the winnings.” Quintenz went on to encourage smart contract developers to reach out and engage with CFTC staff to see if their products fall within the CFTC’s legal guidelines.
The Internet and Mobile Association of India (IAMAI) will form a dedicated focus group to tackle blockchain technology exploration of big businesses and cryptocurrency industry players. As per Indian newspaper, Economic Times, the focus group has attracted representatives from giants like MasterCard, Microsoft, and IBM. This news comes as the Indian Supreme Court is deliberating on the legality of the Reserve Bank of India’s cryptocurrency banking ban enacted this past July.
While speaking to Bloomberg on Tuesday, Joey Krug, co-CIO of Pantera Capital, said that he believes that cryptocurrency markets could increase tenfold by 2020. While speaking to Bloomberg, Krug highlighted the need for scalability in cryptocurrency markets, saying, “These are all markets, and so if you don’t have scalability, you don’t have market markers.” Krug spoke in the interview amidst the announcement of Fidelity launching Fidelity Digital Asset Services, however, he was not surprised that the announcement had little effect on crypto prices -- instead, Krug believes the breakout in cryptocurrency prices will be tied to cryptocurrency adoption in our current climate, which would require transaction capacity increases.
Hey Folks !! As You All Know RBI has Repeatedly Cautioned Users , Holders and Traders of Virtual Currencies , Including BITCOINS , Regarding various Risk Associated in Dealing with such Virtual Currencies on Following Dates: December 24, 2013 February 01, 2017 December 05, 2018 Finance Minister Arun Jaitley Kept on Saying that We Have Made a Committee to Analyze and Discuss the Matter of Bitcoin and other Cryptocurrencies and Waiting for it's Report. Meanwhile RBI (Reserve Bank of India) Suddenly Sent Notices on 6th April 2018 to Exchanges and Banks About Not to Deal with Bitcoin and Cryptocurrencies with Immediate Effect and Gave Three Months Time to Close the Operation. Many Petition Were Filed Against RBI's Decision and Brought the Matter to High Court. Hight Court Simply Denied the Appeal and Said that all Such Matter Regarding Bitcoin and Cryptocurrencies Shall be Discussed Only in Supreme Court. Before Few Days SC (Supreme Court) also Said Banks and Appellant to Resolve the Matter at Their Level. The Next Hearing Will Be On 20th July, 2018 in Supreme Court. What Will Happen On 6th July? The Crypto to Fiat Operation of Exchanges Like Zebpay , Unocoin and Other Indian Exchagnes Will Be Stopped On 6th July, But Crypto to Crypto Trading Will Be Operative. Meanwhile Indians..!! You Guys Can Trade Your Bitcoins in Localbitcoins For These Days** Do You Need To Worry About it? No, Not at all. We Have Found Something Which Needs To be Discussed Here. A Person Named Varun Sethi Filed an RTI Against RBI On 9th May and Asked the Following Questions :
You( RBI) Warned People About Not to Deal In Bitcoin and Cryptocurrencies Several Times (Three Times ). Did You Make Any Committee for this ? RBI's Answer : No
Can You Provide us the Members Details of Committee? RBI's Answer : We Have Not Made and Committee so We Can Not Provide Any Details.
How did You Come To Know about the Risk Associated With Bitcoins and Other Cryptocurrencies RBI's Answer: What is Sought is Not Information as Defined in Section 2(f) of the RTI Act 2005. ( According to this Act they said that Such Type of Information about Blockchain and Bitcoin, Any Evidence , Any Paper , Any Model or Any Electronic Material is not avaiable Online)
Did You Collect Any Information About Blockchain From Any Other Countries Federal Bank RBI's Answer: No
Did You Take Any Measures To Adopt Blockchain Technology in Banking Sector RBI's Answer: No
Does These Rules and Regulations Apply on State Bank of Sikkim? RBI's Answer: State Bank of Sikkim Comes Under Us But We did not Provide any Notice to them
Can You Guys Look at the Answers of RBI. They did make the decision Without Any Adequate Reserach Which is Merely Speculative one. We Belive that Cryptocurrencies are More likely to be Regulated Instead of Ban. Regulations do Require Comprehensive Sets of Rules Which Requires Some time too. Whithin Few Months or May be Few Years it will Be Regulated in India. HODL Life..!!
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buxcoin bitsolives cashfinex Mohsin Jameel Opportunity Rocking & Knocking Belorussians in Russia
https://www.youtube.com/watch?v=pllKYQ5uVwc chat/Talk on chat/Talk on https://goo.gl/qG8qGv Whatsapp number for your help and questions. Earn more and more about BuxCoin before buying to make your vision clearer. Once purchased, be strong and let the Buxcoin work for you. Your 1,000 Euros can be 1,000,000 Euros or more within 3 years from now...Believe it or Leave it. #bitcoin #bitcoins #bitcoinprice #bitcoinnews #bitcoinmining #BitcoinBillionaire #bitcoincash #bitcointrading #bitcoinexchange #bitcoingold #bitcoinminer #bitcoiner #bitcoinvalue #BitcoinMillionaires #bitcoinacceptedhere #bitcoinsallday #bitcoinwallet #bitcoincharts #bitcointechnology #bitcoininvesting #BitcoinClub #bitcoinguru #bitcoinart #bitcoinatm #BitcoinUK #bitcoincasino #bitcoinworld #bitcoinph #bitcoinmanagement #bitcointrader Bitcoin: Rare Information about BuxCoin and Cashfinex by Visionary Experts who working on bitsolives #BuxCoin #Cashfinex #bitsolives #crypto Whatsapp number for your help and questions. what is Buxcoin Bitsolives in bitcoin? Buxcoin is real crypto or is it a scam? Facebook: https://www.facebook.com/bitsolivesworld what is Buxcoin Bitsolives in bitcoin and how to work on Buxcoin ico webinar in Urdu Hindi officialmcafee predictions about buxcoin bitsolives Bitsolives, , Buxcoin, Cashfinex, Mohsin, Jameel, buxcoin bitsolives cashfinex mohsin jameel, Bitcoin, Cryptocurrency, Ethereum, Ripple, Crypto trading, Crypto news, Ico news, Crypto signals, World crypto diaty, World cryptodiary, Bittrex, Polonix, Binance, Cryptopia, Hitbtc, Yobit, Zebpay, Unocoin., Bull infotech, Tradenext, Cashfinex exchange, Cashfinex withdrawal processbuxcoin, Mohsin jameel, Crypto currency, Pakistan, Leadersbuxcoin, Mohshin jameel, Mohsin jameel bux coin, Mohsin jameel updates, Bitsolives latest news, Buxcoin latest news, Cashfinex login,Buxcoin in hindi,Cashfinex sign up,Buxcoin presentation hindi,Bitsolives complete detail,Buxcoin latest updates,Bitsolives in urdu,Buxcoin plan detail urdu,Buxcoin hindi,Buxcoin plan detail hindi,Bitsolives complete plan detail,Buxcoin trading,Buxcoin tradingcashfinex,Buxcoinbitsolives,Next tech,Choke,Thaidigital
Heres a trick I use to save ~20% for buying ps4 games
Note : Calculate the exchange rates etc before doing this. Bought some games for my friend like this. Make sure you have an US PSN. Buy bitcoins (from zebpay etc.). Go to /gcx , exchange bitcoins for amazon.com gift card. Heres the thing, bitcoins are easier for them than gift cards they are not going to use so they give you giftcard for just 80% of bitcoins. So you can get a $60 giftcard for just $48 of bitcoins. This is how you save money.* Now using your amazon.com balance buy playstation credits (many are available, $10, $20, $30, $60 etc. Apply code in your ps4 (or ps3 or vita too). Example - https://www.amazon.com/20-PlayStation-Store-Gift-Card/dp/B004RMK4BC Buy games. Them profitzzzzz. PS : Trade with those who have "confirmed trader"/experienced trader in /gcx . You must have a US PSN account. This just means set a US address when you make an account. *many /beermoney sites pay them in amazon gift cads. but they can't convert giftcards to their money. so they buy bitcoins and exchange it to their money.
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buxcoin bitsolives cashfinex Mohsin Jameel Opportunity Rocking & Knocking Belorussians in Russia
https://www.youtube.com/watch?v=pllKYQ5uVwc chat/Talk on chat/Talk on https://goo.gl/qG8qGv Whatsapp number for your help and questions. Earn more and more about BuxCoin before buying to make your vision clearer. Once purchased, be strong and let the Buxcoin work for you. Your 1,000 Euros can be 1,000,000 Euros or more within 3 years from now...Believe it or Leave it. #bitcoin #bitcoins #bitcoinprice #bitcoinnews #bitcoinmining #BitcoinBillionaire #bitcoincash #bitcointrading #bitcoinexchange #bitcoingold #bitcoinminer #bitcoiner #bitcoinvalue #BitcoinMillionaires #bitcoinacceptedhere #bitcoinsallday #bitcoinwallet #bitcoincharts #bitcointechnology #bitcoininvesting #BitcoinClub #bitcoinguru #bitcoinart #bitcoinatm #BitcoinUK #bitcoincasino #bitcoinworld #bitcoinph #bitcoinmanagement #bitcointrader Bitcoin: Rare Information about BuxCoin and Cashfinex by Visionary Experts who working on bitsolives #BuxCoin #Cashfinex #bitsolives #crypto Whatsapp number for your help and questions. what is Buxcoin Bitsolives in bitcoin? Buxcoin is real crypto or is it a scam? Facebook: https://www.facebook.com/bitsolivesworld what is Buxcoin Bitsolives in bitcoin and how to work on Buxcoin ico webinar in Urdu Hindi officialmcafee predictions about buxcoin bitsolives Bitsolives, , Buxcoin, Cashfinex, Mohsin, Jameel, buxcoin bitsolives cashfinex mohsin jameel, Bitcoin, Cryptocurrency, Ethereum, Ripple, Crypto trading, Crypto news, Ico news, Crypto signals, World crypto diaty, World cryptodiary, Bittrex, Polonix, Binance, Cryptopia, Hitbtc, Yobit, Zebpay, Unocoin., Bull infotech, Tradenext, Cashfinex exchange, Cashfinex withdrawal processbuxcoin, Mohsin jameel, Crypto currency, Pakistan, Leadersbuxcoin, Mohshin jameel, Mohsin jameel bux coin, Mohsin jameel updates, Bitsolives latest news, Buxcoin latest news, Cashfinex login,Buxcoin in hindi,Cashfinex sign up,Buxcoin presentation hindi,Bitsolives complete detail,Buxcoin latest updates,Bitsolives in urdu,Buxcoin plan detail urdu,Buxcoin hindi,Buxcoin plan detail hindi,Bitsolives complete plan detail,Buxcoin trading,Buxcoin tradingcashfinex,Buxcoinbitsolives,Next tech,Choke,Thaidigital
I have a fair number of Bitcoins. I tend to buy/sell at least once a month. I keep the coins in my local wallet. When I want to trade I xfer them to Zebpay / other exchange and sell there. Till date I have not withdrawn any money back to my bank account. When I do decide to cash out, will the entire amount be seen as income? Can I reconcile the deposit made with the withdrawn amount and only be taxed on the profits? How this to be declared? My accountant is slightly stupid so I'll need to explain this to him. I've read a few articles online on this subject but they are all sketchy and vague. My plan is to hodl fairly long term. In the unlikely event that I am rich beyond my wildest dreams, is there scope to open an account overseas and deposit the money there? What are some realistic options? Looking for advice from people who have experience from being in a similar situation either themselves or via friends & family.
Tax notices to cryptocurrency investors in india 2018 because trading hits 21,000Crore
Back in India, the Bitcoin picture is still unclear. While SEBI has made a remark over the Bitcoin regulation, the IT department is set to issue notices to over 500K Bitcoin traders across the country. * Trading on crypto exchanges cross 21,000Crore in India- official * Tax dept seeks payment of tax on capital gains * Govt may introduce a bill to regulate crypto currencies — Source * Govt likens cryptocurrencies to ‘Ponzi schemes’, warns investors By Rupam Jain and Manoj Kumar NEW DELHI, Jan 19 (Reuters) — India has sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than $3.5 billion worth of transactions have been conducted over a 17-month period, the income tax department said. Tech-savvy young investors, real estate players and jewellers are among those invested in bitcoin and other virtual currencies, tax officials told Reuters after gathering data from nine exchanges in Mumbai, Delhi, Bengaluru, Pune and Surat. Collecting over 2 Mn Bitcoin traders’ details from exchanges, the IT department in India is set to issue notices to around 400K-500K HNIs(high net worth individuals) for trading Bitcoins in significant numbers without paying any tax over the gains. Governments around the world are grappling with how to regulate cryptocurrency trading, and policymakers are expected to discuss the matter at a G20 summit in Argentina in March. The Indian government has issued repeated warnings against digital currency investments, saying these were like “Ponzi schemes” that offer unusually high returns to early investors. it has not so far imposed curbs on an industry estimated to be adding 200,000 users in India every month. B.R. Balakrishnan, a director general of investigations at the income tax department in the southern state of Karnataka, said notices were sent following the survey to assess the penetration and patterns of virtual currency trade. “We cannot turn a blind eye. It would have been disastrous to wait until the final verdict was out on its legality,” he told Reuters. The tax department has asked people dealing in bitcoin and other virtual currencies such as ethereum and ripple to pay tax on capital gains. They have also asked for details about their total holdings and the source of funds in the tax notice seen by Reuters. “We found that investors were not reflecting it on their tax returns and in many cases, the investment was not accounted for,” Balakrishnan said. Bitcoin, the world’s biggest cryptocurrency, soared more than 1,700 percent last year, hitting a record high just shy of $20,000 as institutional and retail investors around the world snapped up the virtual currency. Its huge gains have attracted the attention of global regulators tasked with protecting investors from fraud. In recent weeks, Japan and China have made noises about a regulatory crackdown, while South Korean policymakers said they were considering shutting down domestic virtual currency exchanges. REGULATION An Indian finance ministry official said a federal committee was looking into the possibility of imposing restrictions on virtual currencies and that eventually parliament would have to legislate a regulatory regime. Officials at Zebpay, India’s leading bitcoin exchange, said the industry was adding near 200,000 users every month with an estimated trade volume of about 20 billion Indian rupees ($315 million). “Many of our customers are treating digital currency like gold,” said Zebpay co-founder Saurabh Agarwal. Aman Kalra, marketing head of Coinsecure, a bitcoin exchange in New Delhi, said more than 150 bitcoins were changing hands every week through its platform. The company has 100,000 registered users and is now launching a platform to sell ethereum and other digital currencies. “I don’t think anyone in the government or Govt. official in india should label our business as a ‘Ponzi scheme’, we are not doing anything illegal,” said Ronak (WhiteMoney Exchange). Surat, Jan17, Bitcoin wallet firm WhiteMoney today said it has crossed Rs 40crore turnover within 3 months of operations as more Indians are going for the digital currency. “In only 3 months, the company has crossed 50 crore turnover” WhiteMoney said in a statement. Bitcoins are digital money and their value is determined on the basis of their demand and supply. The digtal money is limited in numbers. Only 21 million Bitcoins can be generated globally and they can be traded even in fractions, up to eight decimals. Last bitcoin will be generated in 2140 but 99 per cent would be already there by 2040. Tax inspectors said they sought help from experts in blockchain, the technology that underpins bitcoin, to conduct the survey. In some cases, tax officials themselves participated in the trade to identify loopholes after they found investors had poured in billions of dollars through unregulated exchanges. The biggest worry for New Delhi, the finance ministry official said, was how to protect investors trading on offshore exchanges. Already hundreds of investors have gone to the police and courts with complaints of transactions in virtual currencies that turned out to be fraudulent, said Pavan Duggal, a Supreme Court lawyer specialising in cybercrimes. “Considering cryptocurrencies are here to stay, the government must consider granting limited legality while ensuring that these are not used for crypto crimes,” he said. ($1 = 63.7625 Indian rupees)
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buxcoin bitsolives cashfinex Mohsin Jameel Opportunity Rocking & Knocking Belorussians in Russia
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Indian exchanges have bitcoin at $300 discount? Current price at $3400!
I use zebpay as the indian exchange and the current price is Rs 350,000 ($5400) while bitcoin.com or coinmarketcap.com prices are $5700+ see - https://www.zebpay.com/. This is what its CEO has to say on the price difference https://blog.zebpay.com/why-are-indian-bitcoin-prices-higher-than-international-prices-45cf708b6b1d Other Indian exchanges https://www.unocoin.com/https://coinsecure.in/ Does this mean that the price of Bitcoin is at $300 discount? and that I should buy as much as possible immediately. How do I interpret this price difference? Can I take advantage of this difference? I do a lot of reading into others TA on tradingview/youtube etc. But their views are based on the international views, but if there is such a huge difference between international price and indian price, it is extremly confusing make the process of investing/Trading from India harder Appreciate an thoughts from people here
Hello. I would like to get Reddit's advice and opinion about buying Bitcoin in India. Specifically, does it make sense because: 1. Bitcoin is not nearly as popular in India and afaik all transacrions are trading / investment motivated. 2. The popular exchanges like Coinbase are not an option due to regulations. The most popular Indian exchange is Zebpay who claim a million users. However they've self imposed the restriction that they'll only have Indian users which doesn't sound ideal. 3. Security of the Indian wallets is doubtful, and it's not clear how easily one can transfer between Indian wallets and say Electrum. 4. Regulations require that I submit all my ID docs to the exchange which I feel iffy about. 5. It's not clear if the Zebpay etc are well prepared for the upcoming fork. Would it be advisable to buy now, or to wait?
FORGET THE WEDDING REGISTRY – THIS BRIDE- AND GROOM-TO-BE ONLY WANT BITCOIN
When Prashant Sharma and Niti Shree met four years ago, the price of Bitcoin was less than $300 per coin. Bonding over a shared love of start-ups and new technologies, the couple’s romance blossomed and their love, like the digital currency, has been growing ever since. They are getting married today, and, in true crypto-enthusiast fashion, have requested Bitcoin – and only Bitcoin – as wedding gifts. Prashant Sharma and Niti Shree, both 28, have decided to buck tradition and have requested that their friends and family gift them with the popular cryptocurrency instead the of flowers, dinner sets, linens, and other items that make up the flotsam and jetsam of newlywed life. They even contacted Indian cryptocurrency exchange Zebpay, who are helping them set up a “Bitcoin booth”, complete with staff standing by to walk guests through the process of buying and sending bitcoin. With the price of Bitcoin reaching one new all-time high after another this week, and likely continuing to climb next week as the new roll-out of Bitcoin futures trading in the US thrusts the digital currency firmly into the mainstream spotlight, a gift of bitcoin tomorrow could well be worth much more a few months or a year from now. But lest readers think that Sharma and Shree are hoping to get rich on the backs of their family and friends, the couple has stated that they plan to use the gifts “for the education and uplift of underprivileged kids and other CSR activities.” AH… CRYPTO LOVE To those that know the couple well, their decision makes perfect sense. Sharma and Shree, co-founders of Offrd, a specialized hiring platform for non-tech jobs, are avid cryptocurrency enthusiasts. In an interview with Quartz India, Sharma recounted how they came up with the idea. As he was mulling over the wedding checklist, he started thinking about the wedding gifts and how he didn’t want a bunch of ‘stuff’ that they would likely never use just lying around the house. Then, inspiration struck: Suddenly this idea struck me. What if I bring a dash of technology in the conventional marriage set-up and accept bitcoin as gifts? After talking it over with his bride-to-be, the decision was made. But it was about more than just being different. Shree explained: When we decided to get married, we decided we wanted to promote the technology we like. And since not everyone is familiar with bitcoins, we had the details of how to go about it on our wedding invites. The wedding gifts aren’t the only part of the wedding getting the crypto treatment, either. In addition to the couple’s request, the wedding decor will include orange and yellow flowers as well as amusing one-liners and anecdotes about Bitcoin. Fancy a drink at the bar? They even have crypto-themed drinks – Ethereum, Monero, Ripple, and Litecoin – just for the occasion. Do you think the couple’s request for Bitcoin-only gifts was rude or unusual? If you had your choice of gifts, would you choose Bitcoin? Let us know in the comments below.
Indian exchanges have bitcoin at $300 discount? Current price at $3400!
I use zebpay as the indian exchange and the current price is Rs 350,000 ($5400) while bitcoin.com or coinmarketcap.com prices are $5700+ see - https://www.zebpay.com/. This is what its CEO has to say on the price difference https://blog.zebpay.com/why-are-indian-bitcoin-prices-higher-than-international-prices-45cf708b6b1d Other Indian exchanges https://www.unocoin.com/https://coinsecure.in/ Does this mean that the price of Bitcoin is at $300 discount? and that I should buy as much as possible immediately. How do I interpret this price difference? Can I take advantage of this difference? I do a lot of reading into others TA on tradingview/youtube etc. But their views are based on the international views, but if there is such a huge difference between international price and indian price, it is extremely confusing make the process of investing/Trading from India harder Appreciate an thoughts from people here
Buy/Sell and Trade Bitcoin (BTC) on the ZebPay exchange. ZebPay provides secure ways to send, receive and trade Bitcoin. Available for Android and iOS devices. Trade cryptocurrencies in over 130 countries across the globe! With a clean, intuitive interface, Zebpay is a secure crypto exchange trusted by over 3 million people worldwide. Zebpay is the easiest way to buy and sell Bitcoin, Ethereum, Ripple, EOS and many other cryptocurrencies. Zebpay exchange… Zebpay was initially named ‘buysellbitco.in’, and Mahin Gupta was its first founder. And it was later changed into Zebpay in 2014, also adding two more partners – Saurabh Aggarwal and Sandeep Goenka. Zebpay became one of the very first exchanges, providing access to people of India to buy or sell Bitcoins. Coins offered To start trading — Download Zebpay app to buy, sell and trade bitcoin cash (BCH) in India. Available for Android and iOS devices. Disclaimer- Trading in cryptocurrencies is subject to market, technical and legal risks. Prices in India vary from International prices due to local demand and supply. Zebpay doesn’t guarantee any returns. Best Websites To Sell Bitcoin In India [Exclusive List] By: Harsh Agrawal In: Bitcoin Last Updated: India is one of the biggest Bitcoin arbitrage opportunities for Bitcoiners around the world. With a price difference of more than $100, one can easily earn a fortune if they play their cards right. I have been doing thi
ZebPay is India's oldest and leading Bitcoin exchange, established in 2014, and now available in Australia, Singapore, and over 160 other countries. Two-thirds of Indians who trade crypto bought ... hy guys those who want jo join zebpay app can join from below link to get free 100Rs Bitcoin and you can also apply the Refferal Code below Get bitcoins worth ₹100 free on your first bitcoin buy ... ZebPay is India's oldest and leading Bitcoin exchange, established in 2014, and now available in Australia, Singapore, and over 160 other countries. Two-thirds of Indians who trade crypto bought ... Koinex can be used to buy Bitcoins, Ether, Ripple, Litecoin through Ripple, but I am testing this site and will give review of it, in a week. Zebpay Trading Zebpay verification Zebpay bitcoin ...
