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◟According to the 🇼🇳Indian finance ministry, Crypto or virtual asset businesses are now subject to the Prevention of Money Laundering Act,2002 (PMLA) and Indian crypto exchanges will have to report suspicious activity to the Financial Intelligence Unit India (FIU-IND). #INDIA
◟According to the 🇼🇳Indian finance ministry, Crypto or virtual asset businesses are now subject to the Prevention of Money Laundering Act,2002 (PMLA) and Indian crypto exchanges will have to report suspicious activity to the Financial Intelligence Unit India (FIU-IND).
#INDIA
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🚹Binance, KuCoin, Other Exchanges, Served Notice by Indian Government Removed From Apple’s App Store🚹 👇👇READMORE👇👇#BTC #etf #INDIA #BINANCE #APPLE
🚹Binance, KuCoin, Other Exchanges, Served Notice by Indian Government Removed From Apple’s App Store🚹

👇👇READMORE👇👇#BTC #etf #INDIA
#BINANCE
#APPLE
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NFTSHITZ
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Binance, KuCoin, Other Exchanges, Served Notice by Indian Government Removed From Apple’s App Store
Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex were sent showcause notices by the Indian government.#Apple has removed Binance, KuCoin and other offshore cryptocurrency exchanges from its India app store days after nine entities were sent compliance show cause notices by the nation's government.OKX, another prominent offshore cryptocurrency exchange, has also been removed from the Apple India app store even though it wasn’t sent a show cause notice. Binance, #KuCoin , Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex are the nine exchanges that were sent notices.On Dec. 28, India’s Financial Intelligence Unit (FIU) which falls under the nation’s Finance Ministry, issued compliance show cause notices under its Prevention of Money Laundering Act (PMLA). The government also took the first steps to block the URLs of "said entities that are operating illegally without complying.However, that process requires extensive paperwork and is still ongoing, which is why the URLs are still working in India for these exchanges, a person familiar with the matter told CoinDesk. The Indian government may also want to wait for the entities to respond to the notices before taking further action, the person said.The apps continue to show on Google PlayStore.Existing app users will not be affected, and Binance will continue to work with regulators to resolve the situation, the company said following the publication of this article."The ongoing situation is not unique to #Binance and we remain committed to complying with local regulations and maintaining dialogue with regulators worldwide to ensure the continued availability of our services," a post on Binance South Asia's X (formerly Twitter) account said.Apple India and the FIU could not be reached immediately for comment.#etf #India 🙏🏿Show Your SupportđŸ”„đŸ™đŸżIf you found this helpful, consider to tipping me through the Binance Tipping feature. Your generosity will help me to continue to provide high quality contents. 🙏🏿
Good Govt #INDIA Free ration Free house Free electricity Free Bus But No Relief on CryptoTax. 30% flat tax on profit🚛 No loss setoff 🚐 1% TDS🚑 @Bitcoin_Farmer_2018
Good Govt #INDIA

Free ration

Free house

Free electricity

Free Bus

But No Relief on CryptoTax.

30% flat tax on profit🚛

No loss setoff 🚐

1% TDS🚑

@Bitcoin Farmer 2018
đŸ”„đŸ”„đŸ”„ Binance is set to make a comeback in India, agreeing to pay a fine of around US $2 million. The exchange will re-enter the market as an entity registered with the Treasury Department’s Financial Intelligence Unit, ensuring compliance with all relevant regulations, including the Prevention of Money Laundering Act and the VDA tax framework. #BullorBear #BINANCE #INDIA đŸ‚đŸ»
đŸ”„đŸ”„đŸ”„ Binance is set to make a comeback in India, agreeing to pay a fine of around US $2 million. The exchange will re-enter the market as an entity registered with the Treasury Department’s Financial Intelligence Unit, ensuring compliance with all relevant regulations, including the Prevention of Money Laundering Act and the VDA tax framework.

#BullorBear #BINANCE #INDIA đŸ‚đŸ»
Binance Aims to Re-enter Indian Market Amid PMLA Challenges 🚀🌟💰 Binance is striving to restore access to its mobile app and website in India. đŸ“±đŸ’» ‱ Despite efforts, the Indian government has rejected Binance's plea to resume operations. ❌🇼🇳 ‱ Binance requires time to establish protocols for complying with regulatory standards. ⏳📝 The world's largest cryptocurrency exchange, Binance, is in discussions with the Indian authorities to revive access for Indian users to its mobile app and website. đŸŒđŸ€ Sources familiar with the matter revealed this information to an Indian media outlet. According to the report, Binance is open to settling outstanding taxes up to January 12, when its operations were suspended. However, the exchange is not yet ready to conform to the Prevention of Money Laundering Act (PMLA) guidelines. 💾🔒 In the meantime, the government is taking actions against traders resorting to virtual private networks (VPNs) to access banned platforms. đŸ”’đŸ›Ąïž Reports indicate that around 4,000 Indian crypto traders are suspected of using VPNs to trade on Binance rather than shifting their assets to compliant Indian exchanges. It is believed that nearly $4 billion worth of crypto owned by Indian traders is held in offshore wallets. đŸ’ŒđŸ’° 💡🏩 #indiaceyptotax #BINANCE #INDIA #TrendingTopic: #Write2Eam $BTC $ETH $DOGE
Binance Aims to Re-enter Indian Market Amid PMLA Challenges 🚀🌟💰

Binance is striving to restore access to its mobile app and website in India. đŸ“±đŸ’»
‱ Despite efforts, the Indian government has rejected Binance's plea to resume operations. ❌🇼🇳
‱ Binance requires time to establish protocols for complying with regulatory standards. ⏳📝

The world's largest cryptocurrency exchange, Binance, is in discussions with the Indian authorities to revive access for Indian users to its mobile app and website. đŸŒđŸ€ Sources familiar with the matter revealed this information to an Indian media outlet.

According to the report, Binance is open to settling outstanding taxes up to January 12, when its operations were suspended. However, the exchange is not yet ready to conform to the Prevention of Money Laundering Act (PMLA) guidelines. 💾🔒

In the meantime, the government is taking actions against traders resorting to virtual private networks (VPNs) to access banned platforms. đŸ”’đŸ›Ąïž

Reports indicate that around 4,000 Indian crypto traders are suspected of using VPNs to trade on Binance rather than shifting their assets to compliant Indian exchanges. It is believed that nearly $4 billion worth of crypto owned by Indian traders is held in offshore wallets. đŸ’ŒđŸ’°

💡🏩

#indiaceyptotax #BINANCE #INDIA #TrendingTopic: #Write2Eam

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BIG BREAKING NEWS FROM BINANCE FOR INDIAN USERS đŸ”„đŸ”„đŸ”„đŸ”„đŸ”„ 👉Binance is preparing to return to India, it will pay a fine of approximately US$2 million. Binance will return as an entity registered with the Treasury Department’s Financial Intelligence Unit and comply with all applicable laws, including the Prevention of Money Laundering Act and the VDA tax framework #BullorBear #BINANCE #INDIA
BIG BREAKING NEWS FROM BINANCE FOR INDIAN USERS
đŸ”„đŸ”„đŸ”„đŸ”„đŸ”„

👉Binance is preparing to return to India, it will pay a fine of approximately US$2 million. Binance will return as an entity registered with the Treasury Department’s Financial Intelligence Unit and comply with all applicable laws, including the Prevention of Money Laundering Act and the VDA tax framework

#BullorBear #BINANCE #INDIA
#INDIA TO IMPLEMENT A LOWER TAX LEVY EXPECTED BY CRYPTO UNICORN  A tax levy that the Indian #crypto sector is now dealing with has severely hurt the region's ability to trade digital assets. According to CoinDCX, the #tax levy has been viewed as counteracting, and an appeal has been filed about the process of lowering the rate. Prior to the levy being put into effect, #CoinDCX was worth $2 billion. The cryptocurrency market is a dynamic environment that has seen constant scepticism and uncertainty but has also seen an increase in adoption. This has affected the way the government intervenes through taxes and regulations. India rejects a substantial portion of cryptocurrency trades worldwide. However, the high taxes in the area have inhibited innovation and digital asset trade, which has limited the region's potential for cryptocurrency adoption. India’s crypto tax levy- Around 16 months ago, India implemented a 1% #TDS (Tax Deducted at Source) regulation on cryptocurrency transactions. However, this tax has had a detrimental impact on crypto trading in the country. The primary objective of this taxation measure was to monitor the buying and selling of crypto assets rather than generate revenue for the nation. Recent market analysis indicates that crypto trading volumes in India have sharply declined, with 95% of traders in the country shifting to overseas platforms that are considerably challenging for local authorities to oversee. Summit Gupta, the CEO of CoinDCX, presented this data and expressed hopes that the government would reduce the tax in a timely manner to address this issue. In a recent interview, Gupta commented, "The initial purpose of implementing TDS was to track and trace transactions, but it seems that goal is not being achieved." Furthermore, the imposition of this tax has prompted market makers to exit Indian cryptocurrency exchanges due to the high transaction costs, negatively impacting their investments due to reduced liquidity and undermining their trading activities.
#INDIA TO IMPLEMENT A LOWER TAX LEVY EXPECTED BY CRYPTO UNICORN 

A tax levy that the Indian #crypto sector is now dealing with has severely hurt the region's ability to trade digital assets. According to CoinDCX, the #tax levy has been viewed as counteracting, and an appeal has been filed about the process of lowering the rate. Prior to the levy being put into effect, #CoinDCX was worth $2 billion.

The cryptocurrency market is a dynamic environment that has seen constant scepticism and uncertainty but has also seen an increase in adoption. This has affected the way the government intervenes through taxes and regulations.

India rejects a substantial portion of cryptocurrency trades worldwide. However, the high taxes in the area have inhibited innovation and digital asset trade, which has limited the region's potential for cryptocurrency adoption.

India’s crypto tax levy-

Around 16 months ago, India implemented a 1% #TDS (Tax Deducted at Source) regulation on cryptocurrency transactions. However, this tax has had a detrimental impact on crypto trading in the country. The primary objective of this taxation measure was to monitor the buying and selling of crypto assets rather than generate revenue for the nation.

Recent market analysis indicates that crypto trading volumes in India have sharply declined, with 95% of traders in the country shifting to overseas platforms that are considerably challenging for local authorities to oversee. Summit Gupta, the CEO of CoinDCX, presented this data and expressed hopes that the government would reduce the tax in a timely manner to address this issue.

In a recent interview, Gupta commented, "The initial purpose of implementing TDS was to track and trace transactions, but it seems that goal is not being achieved."
Furthermore, the imposition of this tax has prompted market makers to exit Indian cryptocurrency exchanges due to the high transaction costs, negatively impacting their investments due to reduced liquidity and undermining their trading activities.
INDIA vs NEWZEALAND - win ! win ! INDIAđŸŽ‰đŸ„ł$BTC $ETH As we all know INDIA won the last match with NEWZEALAND as india secures top 1 position in the world cup point table. As soon as we hope BITCOIN also reaches to new highs 😉 and give higher returnes. please do your own research before investing ! #BTC #crypto2023 #INDIA #WORLDCUP
INDIA vs NEWZEALAND - win ! win ! INDIAđŸŽ‰đŸ„ł$BTC $ETH

As we all know INDIA won the last match with NEWZEALAND as india secures top 1 position in the world cup point table.

As soon as we hope BITCOIN also reaches to new highs 😉 and give higher returnes.

please do your own research before investing !
#BTC #crypto2023 #INDIA #WORLDCUP
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