Latest News for: Offshore crypto trader

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Binance In Talks With The Indian Government To Resume Operation In India

Bitcoin World 08 Feb 2024
Earlier, the government blocked nine offshore crypto platforms’ websites and mobile apps ... It is estimated that nearly $4 billion worth of crypto belonging to Indian traders is stored in offshore wallets.
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India Maintains Controversial Crypto Tax Policy in Election Year

Bitcoin World 02 Feb 2024
A study by the Esya Centre revealed that the government’s taxes have prompted as many as five million crypto traders to move their transactions offshore, costing the government a potential $420 million in revenue since July 2022.
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India maintains controversial tax policy on crypto transactions in latest budget

Cryptopolitan 01 Feb 2024
A costly exodus of crypto traders ... This move has prompted five million crypto traders to relocate their activities offshore ... Instead, it adopted a more punitive stance last month, taking action against offshore crypto exchanges.
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India Keeps Stiff Taxes On Crypto As Interim-Budget Is Revealed In Election Year

Bitcoin World 01 Feb 2024
The tax prompted as many as five million crypto traders to move their transactions offshore, costing the government a potential $420 million in revenue since it was introduced in July 2022, according to a study by the Esya Centre.
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India blocks access to major offshore crypto exchanges

BTC Manager 14 Jan 2024
After India introduced a 30% tax on crypto profits and a 1% TDS on transactions, local crypto traders started shifting their funds to offshore exchanges ....
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Binance’s Challenging Phase in the Indian Cryptocurrency Market

Cryptopolitan 13 Jan 2024
The catalyst for the downturn was the Indian Financial Intelligence Unit’s (FIU) stringent stance on offshore crypto exchanges ... scrutiny on offshore crypto exchanges operating in India.
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India asks Apple to remove Binance, Kraken, other crypto apps from App Store

Gulf News 10 Jan 2024
Local exchanges had complained that the 1% levy, known as Tax Deducted at Source, drove Indian crypto traders to offshore platforms that didn't impose it, further hurting their revenues.
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Binance and 9 other exchanges blocked from Apple’s app store in India

Invezz 10 Jan 2024
The move comes as Indian crypto traders shifted their investments to offshore exchanges after the country imposed taxes on digital asset incomes in 2022 ... Traders also incur a 1% tax at source for each crypto trade made.
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Apple removes top crypto exchanges like Binance, Kucoin from App Store in India

International Business Times 10 Jan 2024
In the past, local exchanges have complained about a 1% levy, known as Tax Deducted at Source, which they claim has driven Indian crypto traders to offshore platforms that do not impose it, further hurting their revenues.
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India to block crypto exchange websites in widening crackdown

Financial Express 29 Dec 2023
Also ReadJudge sides with US SEC, says Terraform Labs crypto founder Do Kwon violated law ... Local exchanges have complained that the new tax drove Indian crypto traders to offshore platforms that didn’t impose the levy, further hurting their revenues.
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India Cracks Down On 9 Overseas Crypto Exchanges, Binance And Kraken Among Targets

Bitcoinist 28 Dec 2023
Local exchanges have expressed concerns that the tax drove Indian crypto traders to offshore platforms that do not impose such levies, further diminishing their revenues.� ... in attracting traders.
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Crypto Taxation Misses the Mark: India Loses $420 Million in Potential Revenue Due to 1% TDS

CryptoPotato 11 Nov 2023
Taxing Times for Indian Crypto Traders. The TDS – which is considered a form of income tax – has led to approximately five million crypto traders shifting their transactions offshore ... Calls Escalate to Ease Crypto Tax Rules.
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Thailand Targets Crypto Traders With New Tax Policy

Bitcoinist 19 Sep 2023
With Bitkub, the largest Thai crypto exchange, offering only 94 trading pairs and a daily trading volume of $20.4 million, it is likely that many Thai crypto traders use offshore exchanges.
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Hong Kong treads line to regulating retail crypto trade

Manila Standard 29 May 2023
Without licensed local options, Hong Kong’s retail crypto traders are relegated to offshore websites such as Binance and Coinbase, or a raft of brick-and-mortar shops that buy and sell tokens for cash.
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HK to release new retail crypto trade rules

The Manila Times 28 May 2023
Without licensed local options, Hong Kong's retail crypto traders are relegated to offshore websites such as Binance and Coinbase, or a raft of brick-and-mortar shops that buy and sell tokens for cash.
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