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Crypto Platforms Plead to Restart India Operations Amid Pending GST Dues

- The Finance Ministry's Financial Intelligence Unit (FIU) will hear pleas from seven offshore crypto exchanges this week. - Exchanges like Bitfinex, MEXC Global, Kraken, Huobi, Gate.io, Bittrex, and Bitstamp were banned for non-compliance with the Prevention of Money Laundering Act (PMLA). - The ban may be lifted if these platforms pay pending GST dues amounting to around INR 2,900 Cr. - Compliance with PMLA provisions, including KYC norms and reporting of suspicious transactions, is mandatory for resumption. - GST authorities may also send notices to other foreign crypto exchanges that previously operated in India. Source: [Inc42](https://inc42.com/buzz/fiu-to-hear-pleas-of-seven-banned-crypto-platforms-to-restart-india-ops/)

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Indian Startups on

by Mr_robot

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Coinbase , wazirX , Binance etc What you guys think about india having it's own Dex platform.. as we see Ministries of financial affairs & RBI relations with Binance has not been good due to the company policies of operating in indian region ... it's been a while am looking the market acquisition by the big players in Dex & blockchain world WHAT DO YOU GUYS THINK ABOUT indian Dex ?? As a general survey ...

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Personal Finance on

by BravePier92

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What would you do after India bans International crypto exchanges?

As an Indian what options do you have now? Especially if you don’t have such a large portfolio What would you do after India bans International crypto exchanges? #crypto #advice

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News Discussion on

by AlphaGrindset

Series A Startup

Folks, please get off of Indian crypto exchanges - hearing there’s about to be a fund seize

I think this is CoinSwitch Kuber and WazirX, but I could be wrong. But to be safe, if you have money there, you should leave. If anybody has figured a good way to do this process, can you please share as well?

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Fintech India on

by AmusingSheep

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Personal Finance on

by AITookMyJob

Startup

Legal to keep offramped fiat from crypto in offshore accounts?

Will this be a hawala transaction according to Indian crypto laws? If someone abroad sends me crypto and I offramp it into an offshore account to keep the value in USD. If I then Revolut it back to India, will I have to pay anything beyond regular income tax? Asking purely for educational interests and exploration.

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Personal Finance on

by sashi

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Is there anyone who invests in cryptocurrencies? I'm curious about the process of buying USDT or other stablecoins using Indian Rupees (INR), and also how to convert them back to INR.