Tradingfxdaily.com
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar
No Result
View All Result
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar
No Result
View All Result
Tradingfxdaily.com
No Result
View All Result
Home Crypto News

Indian Finance Minister Asks Crypto Investors to Exercise Caution as Authorities Investigate Exchanges – Regulation Bitcoin News

tradingfxdaily by tradingfxdaily
August 16, 2022
in Crypto News
0
Indian Finance Minister Asks Crypto Investors to Exercise Caution as Authorities Investigate Exchanges – Regulation Bitcoin News
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

India’s finance minister has cautioned investors about cryptocurrency as the country’s Enforcement Directorate (ED) investigates a number of crypto exchanges and freezes the assets of some trading platforms.

Indian Finance Minister Cautions About Crypto

Indian Finance Minister Nirmala Sitharaman reportedly warned about cryptocurrency Saturday at an event organized by the BJP Economic Cell. She cautioned the public and entrepreneurs that cryptocurrency is not currency, stating:

The government has already warned. I think all of us will have to share our thoughts and move with a bit of caution on this.

On Thursday, News18 reported that the finance minister asked investors to exercise caution on crypto, emphasizing that a new law on cryptocurrency is coming soon.

Her statements came as India’s Enforcement Directorate (ED) probes cryptocurrency exchanges in relation to its money-laundering investigations. The law enforcement agency has frozen the assets of at least two cryptocurrency exchanges this month. Wazirx‘s bank assets worth $8 million were frozen on Aug. 5 and Vauld‘s bank and crypto assets worth about $46 million were frozen last week.

Responding to the ED’s allegations, Vauld released a statement Saturday revealing that it fully cooperated with the ED and provided all the required information and documents after receiving a summons in July. Noting that the freeze order is specific to one customer whose account was deactivated after using the exchange’s services for a brief period of time, the company stressed:

We respectfully disagree with the freezing order. We follow strict KYC requirements in every country, including India.

“We are seeking legal advice on our best course of action in order to protect the interests of the company, its customers, and all the stakeholders,” Vauld detailed.

Tags in this story
Crypto law, Crypto regulation, Cryptocurrency regulation, ED, freeze orders, India, india crypto, indian finance minister, Nirmala Sitharaman, Nirmala Sitharaman crypto, Vauld, Wazirx

What do you think about the finance minister cautioning investors about crypto and the ED investigating crypto exchanges? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

More Popular News

In Case You Missed It

Source link

Related articles

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

January 31, 2023
SEC settles on security claim in LBRY case, community calls it a big win for crypto

SEC settles on security claim in LBRY case, community calls it a big win for crypto

January 31, 2023
Share76Tweet47

Related Posts

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

by tradingfxdaily
January 31, 2023
0

The fate of the Panamanian crypto bill project, which was approved by the Panamanian National Assembly last year, now depends...

SEC settles on security claim in LBRY case, community calls it a big win for crypto

SEC settles on security claim in LBRY case, community calls it a big win for crypto

by tradingfxdaily
January 31, 2023
0

The United States Securities and Exchange Commission (SEC) admitted on record that the sale of LBRY tokens in the secondary...

Bitcoin sees most long liquidations of 2023 as BTC price tags $22.5K

Bitcoin sees most long liquidations of 2023 as BTC price tags $22.5K

by tradingfxdaily
January 31, 2023
0

Bitcoin (BTC) swapped bullish gains for chop into Jan. 31 as the end of the month saw nervous price action.BTC/USD...

Here’s how Kazakhstan aims to enhance its legacy crypto trading framework

Here’s how Kazakhstan aims to enhance its legacy crypto trading framework

by tradingfxdaily
January 31, 2023
0

Kazakhstan, one of the world’s biggest Bitcoin (BTC) mining destinations, issued a consultation paper to gauge public interest in proposed amendments to improve the...

BlockFi gets court nod to sell crypto mining assets

BlockFi gets court nod to sell crypto mining assets

by tradingfxdaily
January 31, 2023
0

Bankrupt crypto lender BlockFi has been granted court approval to sell off its crypto mining equipment as part of ongoing...

Load More
  • Trending
  • Comments
  • Latest
Short SPX: Top Trade Opportunities

Short SPX: Top Trade Opportunities

April 5, 2022
The Top 5 Metaverses to Look Out for in 2022

The Top 5 Metaverses to Look Out for in 2022

March 26, 2022
What is Leverage in Forex? Forex Leverage Explained

What is Leverage in Forex? Forex Leverage Explained

April 19, 2022

Larry Fink says globalization is over — Here’s what it means for the markets

March 26, 2022
Tesla Stock Split: What to Know as EV Maker Prepares to Split Its Stock in 2022

Tesla Stock Split: What to Know as EV Maker Prepares to Split Its Stock in 2022

March 28, 2022
AUD/USD hits fresh daily high post-NFP, lacks follow-through beyond mid-0.6800s

AUD/USD struggles near one-week low around 0.7000 amid softer risk tone, USD strength

0

In a Less-Globalized World, Be Careful Where You Park Your Plane

0
Cardano pares most of its Q1 losses as ADA rebounds 60% in a month — What’s next? By Cointelegraph

Cardano pares most of its Q1 losses as ADA rebounds 60% in a month — What’s next? By Cointelegraph

0

Larry Fink says globalization is over — Here’s what it means for the markets

0
Natural-Gas Industry Gets Boost as Biden Shifts Stance

Natural-Gas Industry Gets Boost as Biden Shifts Stance

0
AUD/USD hits fresh daily high post-NFP, lacks follow-through beyond mid-0.6800s

AUD/USD struggles near one-week low around 0.7000 amid softer risk tone, USD strength

January 31, 2023
Sunak migration plan would cost £1bn a year, say campaigners

Sunak migration plan would cost £1bn a year, say campaigners

January 31, 2023
U.S. securities regulator probes Didi Global’s $4.4 billion IPO By Reuters

India’s Adani rides out storm as investors rally to $2.5 billion share sale By Reuters

January 31, 2023
Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country – Regulation Bitcoin News

January 31, 2023
GM’s Fourth-Quarter Profit Soared as Supply-Chain Problems Eased

GM’s Fourth-Quarter Profit Soared as Supply-Chain Problems Eased

January 31, 2023
Tradingfxdaily.com

Tradingfxdaily.com is your Forex, Stock News, World News, Crypto Currency News, Business News & NFT News Website. We provide you with the latest breaking news and videos straight from the Trading industry.

  • Home
  • About us
  • Contact Us
  • Privacy Policy

© 2022 - All Right Reserved. tradingfxdaily.com

No Result
View All Result
  • Home
  • Forex
  • Crypto News
    • NFT News
  • World News
  • Business
  • Stock Market
  • Economic Calendar

© 2022 - All Right Reserved. tradingfxdaily.com

EURUSD=X 
$1.09  -0.05%  
EURCAD=X 
$1.46  0.27%  
EURJPY=X 
$141.16  -0.22%  
GBPUSD=X 
$1.23  -0.33%  
EURNZD=X 
$1.68  0.26%  
AUDUSD=X 
$0.7018  -0.62%  
CADUSD=X 
$0.7450  -0.29%