@MyIndianBank
Again today facing the same issue I have deposited 60,000 INR in my Indian Bank account today. But now my balance is showing 81 inr… Today deposit transactions are also not showing…… what is going on exactly???
Today Bitcoin Spot ETF approval would be special and historic especially after these remarks:
"10 year imprisonment proposed if you trade Bitcoin."
- Garg Committee India
" Bitcoin is like a Tulip Mania"
- Central Bankers
" just seems like a scam"
- Donald Trump
"probably rat poison squared"
- Warren Buffett
"If I was the government, I'd close it down."
- Jamie Dimon
"I personally think the Bitcoin bubble will pop before the dollar bubble."
- Peter Schiff
"Bitcoin is a huge, long-running Ponzi scheme."
- Paul Krugman
"Bitcoin uses more electricity per transaction than any other method known to mankind.”
- Bill Gates
From today Bitcoin has entered new era, pat your back as you were to able to understand Bitcoin faster than Blackrock, fidelity and 11 other trillion dollar asset managers.
It is also a reminder that a common man has the potential to be right and pick things before the the wealthiest of the world could realise.
Satoshi Nakamoto is a hero of a common man he made every common man believe that impossible things can be achieved by just writing a line of code.
You don't need huge bank balance to change the world all that is required is good intent and determination!
World's richest today are down on their knees saluting the spirit of a common man!
Satoshi must be smiling today just like you!
Hodl...
EVOLUTION OF CRYPTO REGULATIONS IN 🇮🇳
2017->Zero clarity.
2018-> Ban on cryptocurrencies by the RBI.
2019 -> Lawmakers proposed a 10-year jail term for cryptocurrency trading. 🇮🇳.
2020 -> In a historic case between crypto and the RBI, crypto wins the case in the Supreme Court.
2023 ⤵️
- > Crypto companies as reporting entities under PMLA.
- > KYC for crypto exchanges
- > Clarity on income tax
- > TDS clarity
- > Registration of domestic crypto companies with FIU.
- > Offshore crypto exchanges serving Indians need to register with FIU (Financial Intelligence Unit)
The FIU has issued a show cause notice to 9 crypto offshore crypto exchanges. Either they come forward and register with the FIU or the URLs will be blocked.
The FIU's job in India is simple: create a mechanism to verify crypto transactions. Select the transactions that look suspicious and report them to the ED, Income Tax Department and other relevant departments.
The FIU had control over Indians trading on Indian exchanges, but not Indians trading on offshore exchanges.
This should be seen as a positive 1st step as now offshore crypto exchanges might open up Indian Entity, local offices, hire compliance officer based out of India.
Not every offshore crypto exchanges might be interested but the big global crypto players can't afford to ignore India.
This will take the industry to next level and there will be a level playing field for everyone. The Indian exchanges have nothing to complain as the rules are going to be same for everyone.
FIU registration is just a first mini step, few more things after FIU registration might follow:
-> TDS deduction clarity by off shore exchanges
-> Will Indian govt provide offshore crypto exchanges its KYC mechanism.
Those who think when "crypto bill " will be presented in the parliament? My answer is that almost all the ingredients of the bill are out. The only clarity left at present is on:
- Non custodial wallets
- DEX
- DeFi
Will 2024 be that year? Maybe or maybe not.
But one thing is clear: we have come a long way from a proposal for a 10-year prison to where we are today!
Vhala Thala, 🫂
We knew we'd have to battle against not just your genius, but the sea of #Yellove in this fairytale final. While we're disappointed tonight, this child within us is happy as ever, to witness you hold up that trophy.
#CSKvGT | #PhariAavaDe | #TATAIPL | #Final | @ChennaiIPL
Among the many use cases that we can focus on for #DeFi, social impact might be a unique one
But this sector will greatly benefit from DeFi integration
Here’s a brief overview: https://t.co/Isp8oYOb0t