Fraudsters in Himachal Pradesh minted a series of a cryptocoins -- two of which were KRO and DGT -- to cheat thousands of investors of more than Rs 200 crore over a period of five years, beginning in 2018 -- the year the crypto reached fever pitch.
Currently, there is no regulation or any ban on the use of cryptocurrencies in the country.
Reserve Bank Governor Shaktikanta Das on Thursday said cryptocurrencies are a "threat to macroeconomic and financial stability" and cautioned investors against punting on them, days after the Union government's move to tax the gains made from cryptocurrency trades. In the Union Budget for 2022-23 presented in Parliament on February 1, the government proposed levying a 30 per cent tax on gains made on cryptocurrency trades by investors and the announcement was welcomed by cryptocurrency industry players, saying it legitimises their trades. Das invoked the 17th century 'tulip mania', widely considered to be the first financial bubble, to caution investors, saying the cryptocurrencies do not even possess the value of the exotic flower.
Hours after another failed attempt on his life, former United States president Donald Trump on Monday said he will never surrender and never stop fighting for Americans.
The cryptocurrency industry on Wednesday urged the government to take a nuanced approach towards regulating crypto assets in India and asked investors in the country to remain calm and not arrive at a rushed conclusion, a day after the government listed for introduction a Bill to ban all such cryptocurrencies, with some exceptions.
The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the Budget next year, a top official said. Revenue secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services.
Amid concerns over misleading claims of huge returns on cryptocurrency investment, Prime Minister Narendra Modi on Saturday chaired a meeting on the way forward on the issue, with government sources asserting that such unregulated markets cannot be allowed to become avenues for "money laundering and terror financing".
Crypto exchanges have been asked to furnish details this month itself.
'India should start leveraging rather than banning crypto.'
Nikhil Anand, senior vice president, operations, at NLB Services explains why professionals who are adept at data, cloud computing and cybersecurity will earn well in 2024.
India proposes to organise a briefing of the Security Council on December 15 on 'Global counter-terrorism approach - principles and the way forward" under the 'Threats to international peace and security caused by terrorist acts'.
Avoid thinking of investment as some 'become millionaire in a week' scheme, says Nikhil Sethi, founder and MD, Zuvomo, a crowdfunding firm. Always think of long term gains and plan your trades accordingly.
Reserve Bank Deputy Governor Michael Patra on Wednesday said the central bank's views about cryptocurrencies might have delayed the government's proposed legislation on crypto assets. Emphasising that the Central Bank Digital Currency (CBDC) will be introduced in FY23 as announced by Finance Minister Nirmala Sitharaman in the Budget speech, Patra said India will proceed very gradually on the subject as there are concerns on privacy, its impact on monetary policy formulation and energy intensity. The government had plans to introduce a bill on cryptocurrencies like Bitcoin during the Winter Session of Parliament in November-December 2021 but did not introduce it.
The message is clear: The 60-year-old wise uncles need to handhold the 40-year-old entrepreneurs when, obsessed with ambition and greed for growth, they become a victim of hubris, points out Tamal Bandyopadhyay.
Sansad TV, which broadcasts live Lok Sabha and Rajya Sabha proceedings, on Tuesday said its YouTube channel was compromised due to unauthorised activities by "some scamsters".
He also said that terrorists are constantly finding new ways to carry out violence, radicalise youth and raise financial resources and the darknet is being used by terrorists to spread radical content and conceal their identities.
Many businesses hire blockchain developers to provide the finest solutions and establish new technologies by utilising their superior expertise.
Speaking in the Security Council briefing on 'Threat to International Peace & Security Caused by Terrorist Acts' on Wednesday, Permanent Representative to the UN Ambassador T S Tirumurti reiterated India's firm belief that terrorism in one part of the world is threat to peace and security of entire world.
Install blockers to prevent falling prey to cryptojacking.
Investors, including large corporations, view them as a potential hedge against uncertainty, and mainstream investment banks too are jumping into the game.
The officer said further investigation and forensic analysis will be done after the mobile handset and details of the seizure are received from Tihar Jail authorities.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
The possibility of the use of weaponised drones for terrorist activities against strategic and commercial assets calls for serious attention by the global community, India has told the United Nations General Assembly, a day after two explosives-laden drones crashed into the Indian Air Force (IAF) station at Jammu airport.
Siva Prasad Nanduri, chief business officer, TeamLease Digital, outlines the skills that will help you get a job in 2023.
The key threats seen during this period ranged from phishing attacks to rogue apps disguised as COVID-19 information apps that targeted users sensitive data.
Advertisers will have to put a disclaimer while promoting the "highly risky" and unregulated cryptocurrencies from April 1, a self-regulatory body for the industry said on Wednesday. All virtual digital assets (VDAs), which are commonly referred to as crypto or non-fungible tokens (NFTs), will have to put the disclaimer in a "prominent and unmissable" way in campaigns for products and services, the Advertising Standards Council of India (ASCI) said. The announcement of the guidelines, done after consultations with industry stakeholders, government and financial regulators as well, comes as the advertising for the controversial products and services is on the upswing.
The advent of artificial intelligence, blockchain technology and cryptocurrencies, and the increasing use of Internet of Things devices throw techno-legal challenges regarding privacy and security. Experts say, any expansion of power to the government to block web-services is detrimental to the interests of users, innovation, and India's larger technology ecosystem. The move to block the mobile apps is likely to have a lasting impact on the data security and privacy framework.
'Lifestyle, peer pressure, lure of extra pocket money and many other factors are responsible why youth are taking drugs.'
Blockchain's promise: Dramatically speeding up transactions, explains Ajit Balakrishnan.
'I do not celebrate or feel pride in our having to ban @realDonaldTrump from Twitter, or how we got here. After a clear warning we'd take this action, we made a decision with the best information we had based on threats to physical safety both on and off Twitter. Was this correct?'
The Summit for Democracy seems to have done more harm than good, notes Ambassador T P Sreenivasan.
'It could tempt investors to pick stocks that are not fundamentally sound.'
The threat was 'escalating' as cyber experts warned that another attack was imminent in coming days.
Digital extortion, in which hackers lock out all your data and seek ransom, is a real threat today, says Veenu Sandhu.
Security researchers with Kaspersky Lab have recorded more than 45,000 attacks in 99 countries, including the UK, Russia, Ukraine, India, China, Italy, and Egypt.
