As India’s Finance Minister Nirmala Sitharaman prepares to present the Union Budget on February 1, the country’s income tax authorities have issued a stark warning to Parliament: the government’s ability to track and tax cryptocurrency transactions is being severely undermined by fundamental enforcement challenges. In a presentation to the parliamentary standing committee on finance, officials highlighted how the borderless, pseudonymous nature of virtual digital assets creates significant gaps in tax recovery, signaling deep institutional discomfort with privately issued crypto assets like Bitcoin (BTC) and Ethereum (ETH) ahead of crucial budget decisions.
about India Tax Authorities Flag Crypto Enforcement Gaps Ahead of BudgetReserve Bank of India
0 in Finance and 0 in Crypto last weekIndia Rupee Hits Record Low, RBI Intervention Eyed
The Indian rupee has plunged to a historic low against the US dollar, raising urgent questions about the Reserve Bank of India’s next move. Traders were caught off-guard as the currency tumbled 0.9% to an unprecedented 89.4812 per dollar, breaching previous defense levels and approaching the psychologically critical 90 barrier. All eyes are now fixed on the central bank’s willingness to intervene amid mounting pressure from what analysts describe as the harshest US tariffs in Asia.
about India Rupee Hits Record Low, RBI Intervention EyedWall Street Closing Bell: Market Analysis & Expert Insights
Bloomberg Television delivers comprehensive market coverage during the critical closing bell period on Wall Street. Today’s broadcast features an impressive lineup of financial experts and institutional leaders including representatives from Gabelli Funds, Barclays, Franklin Templeton, and Bernstein Research, providing real-time analysis and insights as trading concludes for the day.
about Wall Street Closing Bell: Market Analysis & Expert InsightsGold & Risk Assets Surge Amid Fed Rate Cuts
In a financial landscape defying conventional wisdom, both gold and risk assets are experiencing simultaneous surges even as the Federal Reserve signals a shift toward monetary easing. This unusual market behavior, where traditional safe-havens and speculative investments rise together, raises critical questions about underlying economic stability and the potential systemic risks being conjured in the current environment. The phenomenon has drawn attention from leading financial experts, including Raghuram Rajan, the former Governor of the Reserve Bank of India and professor at the University of Chicago Booth School of Business, who brings unique perspective as one of the few who accurately predicted the 2008 financial crisis.
about Gold & Risk Assets Surge Amid Fed Rate CutsIndia’s Crypto Stance: No Ban, Just Tax, as RBI Digital Currency Nears
India has adopted a pragmatic approach to cryptocurrency regulation, choosing taxation over prohibition while advancing its own central bank digital currency. Commerce Minister Piyush Goyal clarified that India neither encourages nor discourages crypto assets but imposes taxation on them, even as the Reserve Bank of India prepares to launch new digital currency initiatives that signal the government’s preference for regulated alternatives to private cryptocurrencies like Bitcoin.
about India's Crypto Stance: No Ban, Just Tax, as RBI Digital Currency NearsIndia Launches RBI-Backed Digital Currency to Curb Private Crypto
India is launching an RBI-guaranteed digital currency as part of a strategic shift toward regulated, asset-backed digital assets while maintaining heavy taxation on private cryptocurrencies. Union Minister Piyush Goyal’s announcement signals a clear pivot from India’s previous ‘tax-and-tolerate’ approach to favoring sovereign-backed digital money over speculative tokens, even as the country leads global crypto adoption metrics.
about India Launches RBI-Backed Digital Currency to Curb Private CryptoIndian Markets Flat Ahead of RBI Policy, US Shutdown Fears Loom
Indian equity markets are poised for a flat opening as investors await the Reserve Bank of India’s monetary policy announcement amid mixed global cues. The Sensex and Nifty 50 extended their losing streak to eight consecutive sessions despite positive overnight performance on Wall Street, with market sentiment remaining cautious as multiple global economic indicators create uncertainty across financial markets.
about Indian Markets Flat Ahead of RBI Policy, US Shutdown Fears LoomIndian Markets Set for Positive Start Amid Mixed Global Cues
Indian benchmark indices Sensex and Nifty 50 are poised for a higher opening on Monday despite mixed global market signals, with Gift Nifty trading approximately 120 points above the previous close indicating positive sentiment. This comes after domestic markets recorded their sixth consecutive session of losses on Friday, with investors now focusing on key triggers including the RBI’s monetary policy decision, progress on the India-US trade deal, and ongoing foreign fund outflows that have dampened market confidence.
about Indian Markets Set for Positive Start Amid Mixed Global CuesIndia’s Economy to Grow 6.5% in FY25-26: S&P
India’s economy is projected to expand by 6.5% in FY25-26, maintaining its position as one of the fastest-growing in the Asia-Pacific region despite mounting global trade pressures. According to S&P Global Ratings, strong domestic demand, favourable monsoon conditions, tax cuts, and increased government investment are effectively counterbalancing challenges posed by higher US import tariffs and intensified competition from Chinese exporters. With inflation easing sharply to 3.2%, the Reserve Bank of India now has room to consider rate cuts, further supporting growth momentum.
about India's Economy to Grow 6.5% in FY25-26: S&PCoinDCX CEO Denies $900M Coinbase Acquisition Rumors
CoinDCX CEO Sumit Gupta has refuted claims of a potential $900 million acquisition by Coinbase, calling them baseless rumors. The denial comes after an Indian news outlet reported advanced discussions between the two exchanges, citing anonymous sources. Gupta emphasized CoinDCX’s commitment to India’s crypto ecosystem, despite recent challenges including a $44 million security breach. The exchange, India’s first crypto unicorn, faced regulatory pressures in the past but remains backed by major investors like Coinbase Ventures. Meanwhile, Coinbase, which exited India in 2023 due to regulatory issues, recently re-registered to operate under local rules. The alleged acquisition was seen as a strategic move for Coinbase to re-enter the Indian market. Separately, CoinDCX is recovering from a $44 million hack, with efforts underway to trace and recover stolen funds.
about CoinDCX CEO Denies $900M Coinbase Acquisition RumorsWebus Invests $300M in XRP for Cross-Border Payments
Webus International, a Nasdaq-listed Chinese AI company, plans to invest $300 million in XRP to enhance cross-border payment solutions. The firm aims to establish an XRP reserve, develop blockchain infrastructure, and accelerate global expansion. CEO Nan Zheng highlights the potential for seamless international transactions and operational efficiency. However, XRP’s price has fallen below $2.2 amid market volatility. Experts see this as a shift toward altcoin adoption, contrasting with recent Bitcoin-focused investments by other firms. Analysts remain optimistic about XRP’s long-term growth, predicting a potential 600% surge.
about Webus Invests $300M in XRP for Cross-Border PaymentsIndia Urged to Invest $10B in Crypto Reserve with BTC, XRP
Aravind, a digital asset advocate, has urged the Reserve Bank of India (RBI) to invest $10 billion of its $650 billion foreign exchange reserves into a cryptocurrency reserve featuring Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and Solana (SOL). He argues that India should emulate the U.S. approach to avoid falling behind in the global financial shift toward digital assets. The proposal comes as countries like El Salvador and the U.S. already hold significant Bitcoin reserves, with BTC and XRP showing recent price surges. While the RBI has historically been cautious about crypto, Aravind’s push highlights growing momentum for institutional adoption. Bitcoin, seen as ‘digital gold,’ and XRP, known for fast cross-border payments, are central to the debate over national crypto strategies.
about India Urged to Invest $10B in Crypto Reserve with BTC, XRP