The FinTech Hub
Source: Live Mint A turf war is breaking out in the vast world of digital payments — and the incumbents are suddenly on defense. Tech firms and crypto start-ups are moving in on territory long dominated by Visa Inc. and Mastercard Inc., powered by a new type of currency — the stablecoin — and a…
Source: Live Mint I’m a resident Indian and I want to incorporate a company in Dubai to provide fintech advisory services in UAE. The consultant there has told me that I can incorporate a company in free zone simply by transferring crypto-currency as share capital. What are the tax implications and risks of carrying out…
Source: Live Mint Bolivians using crypto as hedge against currency devaluation Crypto ATMs, stores accepting Bitcoin or Tether pop up in cities Economists warn trend is not a sign of stability Other Latam countries have also been adopting crypto By Santiago Limachi and Lucinda Elliott COCHABAMBA, Bolivia, June 26 (Reuters) – In the busy shopping…
Source: Live Mint Yet, according to the World Bank, more than 10% of the world’s population—mostly in Sub-Saharan Africa and South Asia—still lacks any official or digital ID. Without identification, access to jobs, healthcare, financial support, mobile services, or even the right to vote can be severely limited. In this context, digital ID systems like…
Source: Live Mint LONDON (Reuters) -The Bank for International Settlements issued its starkest warning yet on the risks posed by stablecoins and urged countries to move rapidly towards the tokenisation of their currencies. The BIS, often dubbed the central bankers’ central bank, outlined its concerns, including stablecoins’ potential to undermine monetary sovereignty, transparency issues and…
Source: Live Mint The Income Tax Department (ITD) has sent a communication to thousands of individuals who have undertaken cryptocurrency transactions but failed to reflect this income in their returns, official sources said last week, reported PTI. These transactions pertain to assessment years 2023-24 and 2024-25, they said. The department and its policy-making body, the…
Source: Live Mint (Bloomberg) — The US Securities and Exchange Commission announced four hires for prominent roles, including a new director of trading and markets who has ties to the crypto industry. Jamie Selway will lead a division responsible for regulating major securities market participants. He has previously served as the global head of institutional…
Source: Live Mint (Bloomberg) — Two men accused of kidnapping and torturing an Italian tourist in an attempt to force him to turn over access to his cryptocurrency accounts pleaded not guilty to an indictment charging them with first-degree kidnapping. The defendants, John Woeltz and William Duplessie, made their pleas before New York State Supreme…
Source: Live Mint Bitcoin, the world’s largest cryptocurrency is in the green today, up 0.11 per cent over the past 24 hours to $1,05,723.29, according to data on CoinMarketCap. Further, Bitcoin’s market capitalisation is at $2.1 trillion, up 0.21 per cent over the past 24 hours, while its trade volume for the period was down…
Source: Live Mint RBI MPC: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Friday said that the central bank is ‘concerned’ about cryptocurrencies as they can ‘hamper’ financial stability of the country. Speaking to reporters during an interaction after announcing the RBI MPC decisions, Sanjay Malhotra touched upon the topic of cryptocurrencies. He was…
