News list for " India"
On February 19, according to the Economic Times of India, people familiar with the matter said that Tesla (TSLA. O) has started looking for land in India to establish an electric vehicle manufacturing plant, and Maharashtra will be the first location for Tesla. Musk has gained support for Truss' plan to build a factory in India after meeting Indian Prime Minister Narendra Modi in the United States last week. According to reports, Musk has sought concessions and asked for a reduction in tariffs o...
According to market news, the Reserve Bank of India has relaxed investment norms for all Indian Financial Institutions Groups.
Indian authorities have seized nearly $190 million in cryptocurrency linked to Bitconnect in an ongoing investigation into a crypto Ponzi scheme that busted in 2018, resulting in losses of around $2.40 billion to 4,000 investors in 95 countries. Bitconnect, which launched in 2016, collapsed in 2018. It is reported that Bitconnect founder Satish Kumbhani (who was charged by the Department of Justice in February 2022) established a global network of promoters, paying them commissions to promote Po...
DeepSeek's breakthrough in artificial intelligence is helping to drive money back from Indian equities to Chinese equities. Hedge funds are flooding into Chinese equities at the fastest pace in months, compared with record outflows from India amid concerns about slowing economic growth. In the past month, the total value of China's onshore and offshore stock markets has increased by more than $1.30 trillion due to capital reallocation, while the value of the Indian market has decreased by more t...
India's market regulator is seeking greater powers from the government to remove unauthorised financial advice from social media platforms such as WhatsApp and Telegram and obtain their call records to investigate market irregularities, government messages and a document show. This is the second time the Securities and Exchange Board of India has sought such powers since 2022 and has not yet received government approval. The request issued...
President Donald Trump said Elon Musk has met with Indian Prime Minister Narendra Modi, speculating that he wants to do business in India.
Coinbase is in talks with India's Financial Intelligence Unit (FIU) to re-enter the Indian market after suspending operations for more than a year. Previously, Binance had resumed operations in India after registering with FIU in August 2024, setting a precedent for overseas crypto exchanges to enter the Indian market in compliance. Coinbase briefly launched its India business in 2022, but services were suspended for three days after the National Payments Corporation of India (NPCI) refused to r...
Elon Musk plans to meet Indian Prime Minister Narendra Modi during his visit to the US, sources said. Musk's talks with Modi may include Starlink's plans to launch satellite broadband services in India.
On February 8, the U.S. Attorney's Office announced that Evan Frederick Light, a 22-year-old man from Lebanon, Indiana, was sentenced to 20 years in federal prison, plus three years of supervised release, on charges of conspiracy to commit wire fraud and conspiracy to commit money laundering. In February 2022, Light hacked into an investment holding company in Sioux Falls, South Dakota, stealing the personally identifiable information of nearly 600 clients and stealing more than $37 million wort...
On February 7th, according to DL News, James Watt, an Indiana man, was sentenced to three years of probation for forging about 30,000 fake ID cards. Court documents show that Watt worked for an unnamed website, which claimed to be "the most trusted source of fake ID cards". In four years, Watt received 14 bitcoins (about $1.40 million) as compensation. Law enforcement found a fake Missouri ID card during a search of his residence. The holder was "Thor" and the address was "Big Hammer Way", showi...
On February 7, Indian cryptocurrency exchange WazirX officially announced that it is migrating funds from its existing cold wallets to new wallets in order to achieve better fund management, improve accessibility, and improve operational efficiency.
India's Financial Intelligence Unit (FIU-IND) has fined cryptocurrency exchange Bybit 927 million rupees (about $1.06 million) and banned its website for violating anti-money laundering regulations. Bybit is understood to be operating in India without obtaining the necessary registration formalities. FIU-IND took this action after finding multiple compliance violations.
According to Reuters, India is revisiting its stance on cryptocurrencies due to changes in the attitude of other countries towards the virtual asset. A senior Indian government official told Reuters on Sunday that the review could further delay the publication of a cryptocurrency discussion paper originally scheduled for September 2024. Ajay Seth, Secretary of Economic Affairs of India, said in an interview: "More than one or two jurisdictions are in the market for cryptocurrencies.
According to Reuters, India's Minister of Economic Affairs, Ajay Seth, said in an interview that India is revisiting its stance on cryptocurrencies due to the shift in attitudes towards cryptoassets in other countries. The review, which follows the announcement of crypto-friendly policies by US President Donald Trump, could further delay the release of a cryptocurrency discussion paper originally scheduled for September 2024. Ajay Seth said, "No.
According to Indian Finance Minister Nirmala Sitharaman in the 2025 federal budget announcement, cryptocurrencies will be included in Section 158B of the Income Tax Act for reporting undisclosed income. The amendment allows for a collective assessment of unreported cryptocurrency gains, giving them the same tax treatment as traditional assets such as currencies, jewelry, and gold bars. According to...
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