Crypto Tax Evaders in Malaysia See Clampdown, Get Warning From Authorities

The authorities in Malaysia are said to be cracking down on crypto tax evaders. As part of a special investigation codenamed ‘Ops Token’, officials from the Malaysian federal agency Inland Revenue Board (IRB) reportedly conducted raids at multiple locations having identified firms that were not reporting their crypto-related engagements. Through these taxes, the Malaysian administration

‘Provide a Level Playing Field for Web3 Businesses’: BWA to FM Nirmala Sitharaman

India’s independent Web3 advisory body, the Bharat Web3 Association (BWA), has prepared a message for Nirmala Sitharaman, who returned as the nation’s finance minister for a second term this month. In its message shared with Gadgets360, the BWA said India needs a level playing ground for Web3 startups and businesses to thrive in. At present, India is

Solana Bond Blockchain Customer Loyalty Platform Unveiled by Solana Labs

Solana Labs has unveiled a blockchain-powered verification platform for brands that offer loyalty programmes. The company behind the popular Solana blockchain has launched ‘Bond’, which is a customer engagement platform that is claimed to be helpful to companies that wish to improve the longevity and security of their customer loyalty initiatives. Bond uses blockchain to

Brazil’s Largest Bank Opens Crypto Trading for Over 60 Million of Its Users

Itau Unibanco, touted as the largest bank in Brazil, has decided to open crypto trading services for its massive userbase of over 60 million. This step from Itau Unibanco comes after the bank tried offering this functionality to a small bunch of select users to check if users were interested in accessing this service at

India’s eRupee CBDC to Get Offline Payments Feature, Programmability Tweaks: RBI Governor

The Reserve Bank of India (RBI) is looking to adopt offline strategies to ensure that the eRupee CBDC enters the financial system of rural and remote parts of India. RBI governor Shaktikanta Das reportedly stated that the central bank plans to experiment with offline solutions to drive the adoption of CBDC in those parts of India that

NFT Market Boomed to $2 Bln in February Sales, Recorded Nine-Month High

The sales of non-fungible tokens (NFTs) rose by a massive 117 percent in February 2023. Around March, the valuation of the global NFT market climbed to its nine-month high since June last year to over $2 billion (roughly Rs. 17,200 crore). NFTs or non-fungible tokens are digital collectibles that are built on blockchains and make

Metaverse Fashion Week 2023 All Set to Kick Off, India’s Blink Digital to Participate

Podcast: Adidas, Tommy Hilfiger, and Vogue Digital are all geared up to be part of the Metaverse Fashion Week (MVFW) 2023 that will kick off on Tuesday, March 28. The virtual event being hosted by the Decentraland metaverse, will have over 60 fashion brands, both physical as well as digital native ones, showcase their spring

Taxes on Crypto Mining Power Use to Spike Next Year in US, Plan Outlined

The US government is considering several ways to balance its destabilised economy by reeling-in more funds into its financial systems. The crypto mining community in the US could face the burn of these tax hikes as the US government has proposed to raise the taxes on the electricity requirement for miners. The idea was part

Government Imposes Anti-Money Laundering Provisions on Crypto Sector in India: Details

Podcast: India’s money laundering laws will apply to trade in cryptocurrencies, the federal government said in a notification dated March 7. The exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets and the transfer of digital assets will be covered under money laundering laws, the

Pakistan Banks Turn to Blockchain Technology to Update Customers’ KYC Details Amid Economic Turmoil

Podcast: Pakistan’s banks have decided to develop a know-your-customer (KYC) platform based on blockchain technology in order to strengthen the country’s efforts to curb money-laundering. Blockchain firm Avanza Group has been onboarded to create this platform, according to details shared by the Pakistan Banks’ Association (PBA) which has signed an agreement with the Avanza Group