Washington, March 7 – U.S. President Donald Trump has signed an executive order to establish a strategic Bitcoin reserve, marking a significant step in integrating cryptocurrency into the country’s financial framework. As per agency reports, the White House confirmed on Friday that the process of creating the reserve has officially begun under the President’s directive.

While most countries, including India, have yet to grant official recognition to Bitcoin, Trump's initiative is expected to bolster its global acceptance. According to the White House statement, the reserve will be funded using Bitcoin assets already seized by the federal government through criminal or civil forfeiture proceedings, ensuring that no taxpayer money will be used for this initiative.

The U.S. government currently holds approximately 200,000 Bitcoins, though no comprehensive audit has been conducted to confirm the exact number. The executive order mandates a full accounting of all digital assets owned by the federal government. Unlike previous instances where seized Bitcoin was liquidated, the administration has decided to retain these holdings as a store of value. The White House compared the initiative to a digital version of Fort Knox, underscoring Bitcoin’s reputation as "digital gold."

Reports indicate that premature Bitcoin sales by the U.S. government have already led to losses exceeding $17 billion for taxpayers. The new strategy aims to maximize the value of these holdings rather than selling them at undervalued prices. The Treasury and Commerce Departments have been authorized to develop budget-neutral strategies to acquire additional Bitcoin, provided these measures do not impose any financial burden on taxpayers.

The executive order also includes the creation of a U.S. Digital Asset Stockpile, which will encompass other digital assets seized through legal proceedings. However, the government will not actively purchase additional digital assets beyond those acquired through forfeiture. The primary objective of this initiative is to ensure responsible management of digital assets under the U.S. Treasury Department.

Emphasizing Trump's commitment to making the U.S. the "crypto capital of the world," the White House reiterated that this executive order fulfills promises made during his administration. David Sacks, the White House’s AI and Crypto Czar, praised Trump's leadership and vision in advancing cutting-edge financial technology. He also acknowledged the contributions of Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Bo Hines, who played a crucial role in implementing the initiative.

With this move, the U.S. is positioning itself as a leader in cryptocurrency management, setting a precedent for how governments can integrate digital assets into their economic strategies.

Calgary (Alberta) [Canada] August 29: CoinChapter, a leading cryptocurrency analysis platform, has released its latest video on its official YouTube channel. The video provides a detailed exploration of the fundamental differences between Pi Network and Pi Coin. This latest release aims to clarify the confusion surrounding these two entities, helping seasoned investors and newcomers make informed decisions in the growing crypto market.

The video mainly targets Indian investors and viewers, as the analyst delivers information in Hindi. However, Others can gain a deep understanding of the Pi network and Pi coin by viewing the video with English subtitles.

Key Insights from the Video

1. Pi Network App vs. Pi Coin: The video comprehensively analyzes the Pi Network app and Pi Coin.

2. Market Confusion: CoinChapter’s video addresses the confusion caused by the existence of the copycat Pi Coin, helping users understand that the Pi tokens they earn from the Pi Network app cannot yet be traded.

3. In-Depth Price Analysis: The video also includes a detailed price analysis of the PI/USDT trading pair, offering viewers actionable strategies to navigate the market effectively.

CoinChapter remains committed to providing valuable information that empowers investors. This video is part of its ongoing efforts to offer detailed and timely insights into cryptocurrency. By making complex topics accessible and understandable, CoinChapter aims to enhance its audience’s ability to make well-informed decisions in the dynamic crypto market.

About CoinChapter

CoinChapter, established by Hexbite Labs Inc., is at the forefront of digital asset market analysis. Focusing on delivering high-quality content to a global audience, CoinChapter offers analysis in both English and Hindi. This bilingual approach marks a significant milestone in CoinChapter’s mission to make cryptocurrency analysis accessible to all.

Stay Connected with CoinChapter

For more updates and in-depth analyses, follow CoinChapter on social media:

X: https://x.com/CoinChapter

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Media Contact:

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Disclaimer: Cryptocurrency products and NFTs are not regulated and carry significant risks. There may be no regulatory protections for losses resulting from these transactions. Cryptocurrencies are not recognized as legal tender and are subject to market fluctuations. It is essential for readers to seek professional advice and thoroughly review offer documents and relevant literature before making any investment. Cryptocurrency market forecasts are speculative, and any investments made are at the reader’s own risk and expense.

New Delhi (India)b July 30 : According to Yen Sim, Director, Branding and Sustainability, EBC Financial Group, In recent years, Will Cryptocurrency Replace Fiat Currency? 

In recent years, the financial landscape has witnessed a dramatic rise in the popularity of cryptocurrencies. Bitcoin, Ethereum, and numerous other digital currencies have captured the imagination of investors, technologists, and the general public alike. As these digital assets gain traction, an intriguing question arises: will cryptocurrency eventually replace fiat currency?

Understanding the Basics

To explore this question, it’s crucial to understand the fundamental differences between fiat currency and cryptocurrency. Fiat currency, such as the US dollar, euro, or yen, is government-issued money that is not backed by a physical commodity but rather by the trust and authority of the issuing government. It is the primary medium of exchange in the global economy, used for everyday transactions, savings, and investments.

Cryptocurrency, on the other hand, is a decentralized digital asset that uses blockchain technology to ensure security and transparency. Unlike fiat currency, it is not controlled by any central authority. Bitcoin, the first cryptocurrency, was created in 2009 by an anonymous entity known as Satoshi Nakamoto. Since then, thousands of cryptocurrencies have emerged, each with unique features and use cases.

Advantages of Cryptocurrency

Proponents of cryptocurrency argue that it offers several advantages over fiat currency. Firstly, cryptocurrencies can facilitate faster and cheaper transactions, especially for cross-border payments. Traditional banking systems can be slow and costly, with intermediaries charging significant fees for international transfers. Cryptocurrencies, in contrast, can transfer value almost instantaneously with minimal fees. As noted by Forbes, “Cryptocurrencies offer a cost-effective and efficient solution for international transactions, bypassing traditional banking fees and delays.”

Secondly, cryptocurrencies provide financial inclusion to the unbanked and underbanked populations. According to the World Bank, approximately 1.7 billion people worldwide do not have access to traditional banking services. Cryptocurrencies can bridge this gap, allowing individuals in remote or underserved areas to participate in the global economy. CNBC highlights this potential, stating, “Cryptocurrencies have the potential to democratize finance, bringing banking services to those who have been historically underserved.”

Thirdly, cryptocurrencies offer a high degree of security and privacy. Blockchain technology ensures that transactions are immutable and transparent, reducing the risk of fraud and corruption. Additionally, users can maintain a certain level of anonymity, which is appealing to those who value privacy. As Bloomberg points out, “Blockchain’s decentralized nature makes it a secure option for financial transactions, with reduced risks of hacking and fraud.”

Challenges and Obstacles

Despite these advantages, several challenges hinder the widespread adoption of cryptocurrencies. One significant issue is volatility. Cryptocurrencies are known for their price swings, which can be extreme and unpredictable. This volatility makes them less suitable as a stable store of value or unit of account, both of which are essential characteristics of a reliable currency. As The Wall Street Journal remarks, “The volatility of cryptocurrencies like Bitcoin makes them impractical for daily transactions and long-term savings.”

Regulatory uncertainty also poses a significant hurdle. Governments around the world are grappling with how to regulate cryptocurrencies. Some countries have embraced them, while others have imposed strict regulations or outright bans. This lack of uniformity creates an uncertain environment for businesses and consumers. Reuters notes, “The regulatory landscape for cryptocurrencies remains fragmented and unclear, posing challenges for their adoption.”

Additionally, the scalability of blockchain technology remains a concern. As the number of transactions increases, the current infrastructure struggles to keep up. This can result in slower transaction times and higher fees, undermining one of the key advantages of cryptocurrencies. According to TechCrunch, “Scalability issues continue to plague blockchain technology, hindering its ability to handle large volumes of transactions efficiently.”

The Hybrid Future

Given these challenges, it is unlikely that cryptocurrencies will entirely replace fiat currencies in the foreseeable future. However, a hybrid financial system where both coexist is more plausible. Central banks are exploring the concept of Central Bank Digital Currencies (CBDCs), which combine the benefits of digital currencies with the stability and trust of traditional fiat money. CBDCs could offer a bridge between the two worlds, providing the advantages of digital transactions while maintaining the stability of government-backed currency. As The Economist suggests, “Central Bank Digital Currencies could represent the next evolution of money, merging the best aspects of fiat and digital currencies.”

In conclusion, while cryptocurrencies have the potential to revolutionize the financial landscape, several obstacles must be overcome before they can replace fiat currency entirely. A more likely scenario is the emergence of a hybrid system that leverages the strengths of both digital and traditional currencies. As technology and regulation evolve, the future of money promises to be dynamic and multifaceted, reflecting the ongoing interplay between innovation and tradition.

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The Indian budget for 2024 has not introduced specific new regulations or tax changes for the cryptocurrency sector directly in its announcements. However, there are significant expectations and discussions within the industry regarding potential changes that could impact the sector:

Taxation and Regulation Clarity

The industry is eagerly awaiting clearer regulations and a more favorable tax regime. The current high tax rate, including a 30% tax on virtual assets and an additional 1% Tax Deducted at Source (TDS) on all crypto transactions, has been a point of contention. Industry experts have suggested a need for clarity in the definitions of virtual digital assets (VDAs), tokenization, and a call for removing the 1% TDS on overseas crypto assets to unlock the full potential of the asset class.

Potential for Regulatory Framework

Although the 2024 budget did not directly address crypto regulations, there’s anticipation for a separate crypto bill that might be tabled in the upcoming Parliament session, which could define the future of crypto in India. This suggests a significant interest in regulating the sector more clearly in the near future.

Focus on Blockchain and Technology

Despite the absence of direct regulation in the budget, the Government’s emphasis on blockchain technology adoption across various sectors highlights an indirect benefit to the crypto ecosystem. This approach suggests a supportive stance towards the underlying technology of cryptocurrencies.

Industry Expectations

The crypto industry has expressed hopes for the budget to include taxation reforms, regulatory clarity, and strategic measures to boost growth. Leaders from major crypto exchanges have proposed reducing the TDS rate to 0.01% to compete globally and have called for specific domestic regulations and funds for blockchain projects to demonstrate real-world utility and innovation.

Broader Economic Impacts

The Union Budget 2024 is key for setting a regulatory framework for cryptocurrencies, especially after India’s G20 presidency. The budget has broad expectations to address economic growth, promote job creation, and manage fiscal consolidation while focusing on sustainable and green initiatives.

While the 2024 budget has not made specific announcements affecting cryptocurrencies directly, the ongoing discussions and calls for clearer regulations and tax reforms from the crypto industry highlight a critical moment for the sector in India. The emphasis on blockchain technology and the anticipation for future regulatory clarity reflects a complex landscape that stakeholders should navigate cautiously, awaiting more definitive guidelines in the near future.

“The Indian Government’s broad embracement of technological innovation signifies a forward-looking stance that acknowledges the importance of technologies in driving economic growth. However, the absence of specific regulatory frameworks or adjustments in tax and TDS structures for the crypto sector within the recent interim budget highlights a continuing uncertainty that has been prevalent in the Indian crypto market, which, like any other, thrives on clarity and stability. Without a defined regulatory path, it becomes challenging for investors, businesses, and consumers to make informed decisions. The Government should engage more with the various stakeholders in the industry, including exchanges, investors, and technology providers, to get valuable insights that will help shape a regulatory environment beneficial to all parties involved,” Karen Mkrtchyan, Crypto Market analyst at CoinChapter.com says.

We are indeed hoping to progress along the lines of the regulatory framework in the crypto sector, which has been one of the primary speculations all this while. Nevertheless, the Government is wholeheartedly accepting technological disruption in different sectors by emerging technologies like AI, machine learning, blockchain, etc. The adoption of deep tech in sectors like defense indicates a positive sentiment. We do understand that it is an interim budget, and there has been no mention of any regulatory framework or rationalization in tax or TDS structure in regard to the crypto sector, which has been long pending. However, we are hopeful about the coming months and expect to hear encouraging policies soon. Gaurav Kumar, Founder and CEO at cashaa.com, says.

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New Delhi (India), January 29: In the ever-evolving landscape of cryptocurrency, one name stands out in India – Crypto Aman. With nearly a decade of experience under his belt, Aman has become a beacon of knowledge in the crypto community. His journey began modestly, investing just Rs 2200 in his first Bitcoin. However, over time, he has ascended to manage India’s largest crypto Telegram channel, boasting an impressive community of 110k members.

What sets Crypto Aman apart is his commitment to educating and empowering enthusiasts beyond the basics. While many focus solely on introductory concepts, Aman delves into advanced topics such as NFTs, DeFi, the Metaverse, and Web 3.0. His unique ability to simplify complex concepts has made his content accessible to beginners while providing seasoned investors with valuable insights.

Aman’s influence extends far beyond his online presence. Recognized as the Best Crypto YouTuber by Bybit and the Best Crypto Influencer of the Year by OKX, he has cemented his position as a leading authority in the field. Additionally, his role as an ambassador for Binance in India underscores the extent of his impact on the crypto landscape.

With staggering 382k subscribers on YouTube and a thriving community on Telegram, Crypto Aman serves as a go-to source for crypto enthusiasts seeking the latest updates and market insights. His Telegram channel is not merely a platform for dissemination but a hub for comprehensive analysis, providing members with everything from market trends to Bitcoin analysis.

One of Crypto Aman’s key teachings is the importance of a cautious approach in the crypto market. He advocates for dealing primarily with Bitcoin, citing its stability and proven track record. Moreover, his emphasis on risk management has become a cornerstone of his community, empowering members to navigate the volatile market with confidence.

In a world where the crypto landscape is constantly evolving, staying informed is paramount. Crypto Aman’s Telegram channel offers a wealth of resources, ensuring that members are equipped with the knowledge needed to make informed decisions. As the market continues to fluctuate, adhering to Aman’s risk advice becomes increasingly crucial for investors.

Crypto Aman’s influence transcends mere numbers; it lies in his dedication to educating and empowering individuals in the crypto space. Through his various platforms, including YouTube, Telegram, Twitter, and Instagram, he continues to serve as a guiding light for those navigating the complexities of the cryptocurrency world.

In conclusion, Crypto Aman’s journey from a modest investor to a leading authority in the crypto scene is a testament to his expertise and dedication. As the crypto landscape continues to evolve, his guidance remains invaluable for enthusiasts and investors alike, providing a beacon of knowledge in an ever-changing industry.

Learn more – www.YouTube.com/cryptoaman

Telegram – https://t.me/Cryptoamanclub

Twitter – www.Twitter.com/Cryptoamanclub

Instagram – www.Instagram.com/Cryptoamanclub

Follower details

YouTube – 382k+

Telegram – 110k+

Instagram – 30k+

Twitter – 56k+

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New Delhi, Jan 11 (IANS) The approval of spot Bitcoin exchange-traded funds (ETFs) in the US not only symbolises a maturing market but also signifies support from regulatory authorities, industry experts said on Thursday.

The US Securities and Exchange Commission (SEC) has finally approved a number of spot Bitcoin ETFs and with the decision, the world's largest cryptocurrency has joined the global financial system.

“The readiness of the sector to list these ETFs and the commitment of the broader market to continue the growth momentum, highlight the industry's confidence in regulatory decisions,” said Rahul Pagidipati, CEO, ZebPay.

“We believe that the approval of Spot Bitcoin ETFs will not only enhance accessibility for investors but also contribute to the establishment of a more robust and regulated crypto market, aligning with our vision for a thriving web3 economy,” he added.

Gold ETFs transformed the gold market two decades ago, triggering a huge rally in gold's price. Over $100 billion is currently stashed in gold ETFs that trade in the US.

According to some experts, Bitcoin ETFs could do the same for the world of cryptocurrency. British multinational bank Standard Chartered forecasts that the US SEC’s approval of a spot Bitcoin ETF may allow Bitcoin to reach a high of almost $200,000 at the end of 2025.

“If ETF-related inflows materialise as we expect, we think an end-2025 level closer to USD 200,000 is possible,” wrote Geoff Kendrick, Standard Chartered’s Head of Digital Assets and precious metals analyst Suki Cooper in a new report.

The price of Bitcoin hovered around $47,000 apiece on Thursday after the US SEC decision.

Bitcoin soared 155 per cent in 2023.

“We expect Bitcoin to enjoy price gains of a similar magnitude as a result of US spot ETF approval, but we see these gains materialising over a shorter (one-to two-year) period, given our view that the BTC ETF market will develop more quickly,” the bank noted.

Spot Bitcoin ETFs have the potential to develop into a $100 billion product, according to some analysts, reports CoinDesk.

Currently, Bitcoin ETFs exist in Canada and Europe but have seen muted trading volume in Europe since launching in August.

The US decision will make around a dozen spot Bitcoin ETFs available to investors, such as those from Grayscale, Fidelity and BlackRock.

"While we approved the listing and trading of certain spot Bitcoin ETP shares, we did not approve or endorse Bitcoin. Investors should remain cautious about the myriad risks associated with Bitcoin and products whose value is tied to crypto," SEC Chair Gary Gensler said in a statement.

San Francisco, Jan 11 (IANS) The US Securities and Exchange Commission (SEC) has finally approved a number of spot Bitcoin exchange-traded product (ETP) shares and with the decision, the world's largest cryptocurrency has joined the global financial system.

The decision will make around a dozen spot Bitcoin ETFs available to investors, such as those from Grayscale, Fidelity and BlackRock.

"While we approved the listing and trading of certain spot bitcoin ETP shares, we did not approve or endorse bitcoin. Investors should remain cautious about the myriad risks associated with bitcoin and products whose value is tied to crypto," SEC Chair Gary Gensler said in a statement late on Wednesday.

For the last 10 years, the SEC denied all attempts to create a Bitcoin ETF.

Gensler said that the decision should in no way signal the Commission's willingness to approve listing standards for crypto asset securities.

"Nor does the approval signal anything about the Commission’s views as to the status of other crypto assets under the federal securities laws or about the current state of non-compliance of certain crypto asset market participants with the federal securities laws," Gensler informed.

The vast majority of crypto assets are investment contracts and thus subject to the federal securities laws.

The sponsors of bitcoin ETPs will be required to provide full, fair, and truthful disclosure about the products.

“While these disclosures are required, it is important to note that today’s action does not endorse the disclosed ETP arrangements, such as custody arrangements,” said the Commission.

These products will be listed and traded on registered national securities exchanges.

“We will monitor them closely to ensure that they are enforcing those rules,” said the SEC.

The existing rules and standards of conduct will apply to the purchase and sale of the approved ETPs.

Earlier this week, the US SEC saw its X account hacked for a brief time, with a post claiming it has approved listings for Bitcoin exchange-traded funds (ETFs).

Gensler later clarified in a post on his X account that the agency’s account was “compromised, and an unauthorised tweet was posted”.

New Delhi, July 11 (IANS) As the world of cryptocurrency tumbles down amid regulatory crackdowns, there are 19 individuals in the world who achieved the title of a billionaire through cryptocurrency.

One cryptocurrency in particular that has led to investors amassing impressive returns is Bitcoin.

Satoshi Nakamoto, the pseudonym for the creator of Bitcoin, is widely assumed to have the most Bitcoin wealth. Though the creator has not officially revealed the amount of Bitcoin he holds, estimates predict he has a wallet containing around 1.1 million BTC, according to data shared by niche news publisher BanklessTimes.com.

This would convert to a staggering around $25 billion.

"Following Nakamoto is Changpeng Zhao, commonly known as CZ who is the founder and CEO of Binance, with a total of $65 billion. Prior to Sam Bankman-Fried's scandal, he took third position with a total of $24 billion,” the report showed.

Looking at the landscape of BTC investing across countries, the US takes the lead, with 46 million holders. This is significantly more than India in second place with 27 million holders and Pakistan with 26 million. However, the most Bitcoin owned is distributed between just four wallets which holds a collective 663,306 Bitcoins.

Aside from individuals, there are large corporations that have accumulated great volumes of Bitcoin.

In fact, a total of 23 publicly traded companies have sizable investments in BTC, said the report.

The company with the largest investment in BTC among these is MicroStrategy Inc. with an astonishing 129,699 BTC, equating to $3,975 million.

Another high profile example of company ownership of BTC is Tesla, which in 2021, purchased $1.5 billion worth of Bitcoin. The automotive and clean energy company also began to accept BTC as a form of payment which would've increased their total value invested even higher.

However, the company later went on to offload the majority of its bitcoin holdings in 2022, said the report.

Mumbai (Maharashtra) [India], July 7: KoinBX, India’s top crypto exchange, officially unveils the schedule of its first-ever ultimate crypto gala, Koin Crypto Meet 2023. The first edition of this remarkable event will be hosted on July 7, assembling the large crypto community in one of the busiest cities in India, Mumbai.

KoinBX Crypto Meet 2023 is open to all venture capitalists (VCs), investors, traders, developers, media outlets, and Web3 enthusiasts. That is, all ‘cryptophiles’ — the label for people who love cryptocurrencies — are going to be gathered from 7 PM to 11 PM at Hotel Sahara Star in Mumbai.

It is worth noting that KoinBX is partnering with Rimaunangis, an emerging crypto project that is revolutionizing the food chain and lifestyle industry, to inaugurate this crypto meetup. The gala aims to emerge as the perfect arena for knowledge-sharing and networking with the dynamic crypto community in India.

KoinBX Crypto Meet 2023 Mumbai upholds an all-inclusive agenda, exploring the latest trends and future of the crypto and Web3 landscape. Remarkably, “The Bitcoin Man” Herbert Rafael Sim, the popular crypto OG investor and advisor, is joining the community as the evening’s special guest. TheNewsCrypto, a Dubai-registered crypto media outlet, has teamed up with KoinBX and Rimaunangis as the official media partner to cover this crypto gala on Friday.

The organizers recommend attendees reserve their slots for free. To take part in the event, register here

About KoinBX

KoinBX is a global crypto exchange that stands as the most-suited platform for traders of every level to buy, sell, and trade cryptocurrencies. By registering its trademark in the European Union, KoinBX signifies its plans to bolster its user base and its global reach. The exchange carries the prime mission of boosting the recognition of deserving crypto projects.

Website | Twitter | LinkedIn | Telegram | Facebook | Instagram

About Rimaunangis

Rimaunangis is the next-gen crypto project that merges the food chain & lifestyle industry with blockchain technology. Developed by Rimaunangis Digital LLC, the project is currently blazing a unique trail in content streaming, art, and fashion. This NFT and metaverse-centric ecosystem is powered by its native cryptocurrency RXT token.

Website | Twitter | LinkedIn | Telegram | Facebook

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New Delhi (India), July 7: In the face of tougher restrictions for preserving client KYC data, several cryptocurrency dealers and exchanges have opted to relocate outside of India. Platinx, a 100% Pure Indian crypto exchange, is emerging as an exception to this tendency. Platinx is building a reputation for itself in the Indian industry with its user-friendly design, broad cryptocurrency offers, and dedication to security and compliance.

Platinx, an Indian Registered Crypto Exchange certified by a government-certified agency, has partnered with Indian Banks to easily link bank accounts with Platinx Accounts.

The company distinguishes itself from global crypto exchange businesses that have set their eyes on India’s large user base, which is expected to reach 156 million by the end of 2023. While these businesses operate in India, their headquarters are in tax-friendly nations like the UAE and Singapore, enabling them to avoid Indian tax rules. Platinx, on the other hand, has made a strong presence in India, creating its platform with a competent team of Indian blockchain engineers, crypto specialists, and programmers.

One of Platinx’s main strengths lies in its intuitive platform, designed to accommodate both experienced traders and novices entering the world of cryptocurrencies. The exchange supports a wide range of digital assets, including popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and many others. This diverse selection enables users to engage in seamless trading activities, regardless of their preferred digital assets.

Platinx places a high priority on user security and has implemented cutting-edge measures to protect user funds and data. By adhering to stringent security protocols, the platform ensures that its users can trade with peace of mind, safeguarding their assets against potential threats.

One notable advantage offered by Platinx is its low trading fees, allowing users to maximize their profits and minimize transaction costs. Furthermore, the platform boasts round-the-clock customer support, with representatives readily available to address any queries or concerns users may have. Whether users require assistance with account setup, trading strategies, or technical issues, the dedicated team at Platinx is committed to providing timely and effective support.

In addition to its focus on user experience and security, Platinx is actively engaged in promoting cryptocurrency education and awareness in India. The platform diligently follows all regulations and guidelines set by the Indian jurisdiction, ensuring compliance with anti-money laundering (AML) and KYC regulations. By prioritizing regulatory adherence, Platinx aims to foster a trustworthy and transparent crypto trading ecosystem within the country.

While many crypto dealers and exchanges have opted to relocate outside of India, Platinx is carving a unique path by demonstrating its dedication to the Indian market.

Platinx also has an active refer and earn program. It allows users to earn ₹100 Worth of Crypto when a new account is created by their referral link. By combining user-friendly features, robust security measures, and a commitment to compliance, Platinx is poised to become a leading player in India’s crypto exchange landscape.

App Available on Google Play Store: https://bit.ly/3HZtASZ

App Available on Apple App Store: https://bit.ly/3FTBTNv

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New Delhi, April 23 (IANS) Finance Minister Nirmala Sitharaman on Sunday emphasised on the need for global consensus for regulating crypto assets.

Addressing a series of events in Bengaluru, she said that any kind of regulation on crypto assets would require every nation's consent, otherwise it would not be effective.

Sitharaman added that India under its G20 presidency has kept crypto assets regulation as an agenda item for this year.

The IMF has given a paper on crypto-currency and the way it can affect the macroeconomic stability.

"The Financial Stability Board (FSB), which was set up by G20, has agreed to give a report that will also focus on financial stability," Sitharaman said.

Reports of both FSB and IMF will be discussed in July when Finance Ministers and Central Bank Governors will meet under the G20 umbrella, the Finance Minister said.

Sitharaman further said that the government is taking several measures to widen the tax base.

"We have brought in a parallel, simplified income tax regime with lower tax rates and less exemptions. Changes have been brought to encourage people to pay taxes," she said.

"Salaried class sometimes feel why they are only burdened and not others are questioned. They should remember that the government is approaching others as well, big expenditures are now being taxed, they are paying TDS. So, widening of tax net is happening," she said.

Speaking on the global economic scenario, the Finance Minister said: "Covid was not even completely over when the war in Europe began and it had global repercussions. Fuel prices went up and food insecurity was seen in many countries."

During Covid, many developed economies printed and distributed money. This formula resulted in double-digit inflation in their economies, something which was not seen there in 30-40 years, Sitharaman added.

On inflation, she said that initially interest rates were "low for a long" and now inflation rates are "high for long" in countries which printed money and distributed it during Covid.

"Their economy is in a state of flux and in a recessionary phase which will have spillovers worldwide," Sitharaman said.

New Delhi, April 15 (IANS) Union Finance Minister Nirmala Sitharaman has said that 'Crypto Assets' is an issue that requires immediate attention from the G20 and "our response has to ensure that we do not lose any potential benefits while protecting our economies from harm".

Sitharaman made the remarks during a brainstorming session on "Macrofinancial Implications of Crypto Assets" with G20 Finance Ministers and Central Bank Governors at the International Monetary Fund (IMF) headquarters in Washington D.C. on Friday.

India currently holds the rotating annual presidency of G20 countries.

Issues related to crypto have emerged as a major point of discussion among G20 countries and there is unanimity among member nations about the urgency to regulate this sector.

The brainstorming session was attended by global experts on this issue.

Sitharaman said the G20 acknowledges the work of the IMF and the Financial Stability Board (FSB) in bringing out key elements of policy and regulatory framework.

She also said a synthesis paper, which would integrate macroeconomic and regulatory perspectives of crypto assets, is required.

Sitharaman also noted that there was consensus among G20 members to have a globally coordinated policy response on crypto assets that takes into consideration the full range of risks, including those specific to emerging markets and developing economies.