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
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
The post RBI Leans Toward Crypto Ban Despite India Boasting 39 Million Traders & $2.1B Holdings appeared on BitcoinEthereumNews.com.
The central bank of India continues its quest for an Indian crypto ban, increasing the pressure. The central bank of India is upping the ante on the crypto ban for India. The Reserve Bank of India (RBI) is advocating for a policy that “leans toward prohibition,” despite nearly 39 million Indian investors possessing approximately $2.1 billion in digital assets, internal government documents reveal on July 8, 2026. RBI Warns of Contagion Risks and Stablecoin Threats The RBI’s stance is more than just about the ban on cryptocurrencies in India. Both foreign-backed and rupee-pegged stablecoins have raised individual concerns for the central bank. The documents reviewed by Reuters suggest that the dollar-backed stablecoins could pose a threat to India’s monetary sovereignty. Rupee-backed tokens, the RBI cautioned, could also lead to a loss of seigniorage, or t
The post Crypto-Skeptical Investing Giant Vanguard is Searching for a Head of Digital Assets appeared on BitcoinEthereumNews.com.
Key highlights: Vanguard is recruiting a Head of Digital Assets to help shape its digital asset strategy The move comes despite the firm’s historically cautious stance toward cryptocurrencies The hiring signals growing pressure on traditional asset managers to engage with blockchain and tokenization trends Vanguard, one of the world’s largest asset managers and a firm known for its skepticism toward cryptocurrencies, is looking to hire a Head of Digital Assets, a move that could signal a gradual shift in how the company approaches blockchain-related opportunities. JUST IN: $12 trillion Vanguard is now hiring for a Head of Digital Assets to develop their “multi-year digital assets roadmap and drive execution.” 👀 pic.twitter.com/9Uq6lBj0nN — Bitcoin Magazine (@BitcoinMagazine) July 7, 2026 The role, which recently appeared on Vanguard’s careers portal, would
