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  • Rs 370 crore assets of Singapore based crypto exchange Vauld frozen by India’s ED

    Troubles for Vauld are still not over, recently Singapore High Court granted the parent of troubled crypto lender Vauld three-month protection from creditors. 

    However, In India, The Enforcement Directorate froze Vauld’s Indian assets worth Rs 370 crore of Singapore-based cryptocurrency exchange Vauld in connection with a money laundering probe.

    The ED is conducting a money laundering investigation against a number of Indian Non-Banking Financial Company (NBFC) companies and their fintech partners for predatory lending practices in violation of the RBI guidelines and by using tele-callers who misuse personal data and use abusive language to extort high-interest rates from the loan takers.

  • After Wazirx, Other Crypto Exchanges in India Under ED Lens for Rs 1,000-Cr Alleged Money Laundering

    After ED raids on Wazirx, Other cryptocurrency exchanges that are under the ED lens. The authority is investigating alleged money laundering cases of over Rs 1,000 crore involving at least 10 crypto exchanges.

    According to media reports, cryptocurrencies of more than 100 crores were bought on exchanges and later sent to international wallets. The exchanges did not conduct any enhanced due diligence and even failed to raise suspicious transaction reports (STRs). It also added that KYC details were also dubious in many cases. The person with KYC has no connection with the transaction in many cases.

  • Crypto Mining to be taxed in India: Report

    While the Indian Crypto community is recovering from the 30 percent crypto tax, India’s Central Board of Indirect Taxes and Customs (CBIC) is working on a policy paper to bring more crypto activities under the GST tax net. 

    If reports are to be believed, The paper will bring crypto mining platforms and the usage of virtual digital assets (VDAs) as a medium of exchange in purchases

    The Goods and Services Tax (GST) policy wing of the CBIC is working on a policy paper and it would be submitted to the law committee of the GST Council once ready.

    The GST Council may take up the issue later this year, likely post its September meeting

  • Thailand Drops 15% Capital Gains Tax on Cryptocurrencies

    While the Indian Government is planning to bring More Crypto Activities Under taxation after the infamous 30 percent tax, On Tuesday the Financial Times reported that Thailand had dropped the plans of a 15% capital gains tax on cryptocurrencies. 

    Earlier this year, Thailand announced its intent to impose a capital gain tax on miners and traders. However, this move was met with strong opposition from both politicians and the country’s growing cryptocurrency community.

  • Table Tennis Goes Crypto, partnered with a non-fungible token startup NFT Tech

    After NFL and other major sports events, Table Tennis joined a long of list sports events riding the crypto bandwagon. World Table Tennis (WTT), the events arm of the sport’s governing body has a partnership with non-fungible token startup NFT Tech to explore web3 opportunities.

    It is a multiyear tie-up that will enable WTT to issue “digital collectibles, metaverse experiences, play-to-earn, and move-to-earn gaming,” 

  • Reddit join hands with FTX to integrate crypto payments on its platform

    Famous social news aggregator Reddit has partnered with a crypto exchange, FTX. As we know, The platform is working on integrating Reddit community points with crypto in the United States, Europe, Australia, and other prominent markets.

    The partnership will allow Reddit users to pay and access crypto-oriented incentives for the Reddit Community Points using FTXpay. One can easily buy Ether (ETH) from approved Reddit Applications. The feature to buy Ether will be through FTX’s payment and its exchange outlet, FTX pay. and it will aid them in paying for on-chain transaction activities, which include gas fees and network fees for their Community Points.

  • CreatorDAO Raises $20 Million in Funding Round Led by a16z

    CreatorDAO, a popular decentralized community that invests in creators, has announced the completion of its latest funding round. CreatorDAO received about $20 million led by a16z Crypto and Initialized Capital. 

    Other participants in the funding round include Paris Hilton, The Chainsmokers, Michael Ortiz, and Liam Payne, Liquid2 Ventures, M13, Audacious Ventures, 6th Man Ventures, Abstract Ventures, SV Angel, Hack VC, Fika Ventures, Fuel Capital, Goldhouse, Soma Capital, Alliance DAO, Shima Capital, Olive Capital, Kygo’s Palm Tree Crew, MGU Capital, Position Ventures, Alchemy Ventures, among others.

    CreatorDAO intends to allow participants in the round to become creators on its platform and generate revenue through commissions. It invests in creators by providing capital, Mentorship, technology, and operational support.

  • Fortress blockchain raises $22.5 million in seed funding

     Fortress, a blockchain startup, has raised seed funding of $22.5 million. The funding round was led by Ayon Capital. Scott Purcell-owned soaring investment management also participate in the funding round.

    Fortress provides restful APIs which enable developers and businesses to integrate wallets, minting engines, payment processing, compliance, and royalties into their applications.

    Fortress will utilize the funds further to develop and improve tech infrastructure and increase its sales workforce.  

  • BitPay and Dosh Brings Cashback Rewards on Crypto Debit Card

     BitPay, Atlanta based crypto payment processing platform, announced today a partnership with Dosh, Austin Based cashback app which rewards you for shopping, dining out, and booking hotels.

     BitPay Card will now be rewarded with automatic cashback rewards when swiping the card offline and online. The Cashback will be added and it will show in BitPay App.

    “We’ve partnered with Dosh to bring you cashback offers from brands you love. When you make a transaction with your BitPay Card, Dosh checks to see if it is eligible for a cashback reward. If the transaction is eligible for cash back, Dosh will send us a message to credit your checking account after the transaction has been completed and posted.”

    – BitPay Team

  • Schwab Launches Schwab Crypto Thematic ETF

     Schwab Asset Management has finally released its Schwab Crypto Thematic ETF to meet investors growing interest in the crypto ecosystem. The fund however does not directly target actual cryptocurrencies, it identifies, selects, and weights constituents based on a company’s exposure to the crypto ecosystem. It uses NLP or natural language processing techniques for the index. 

    Big crypto names including MicroStrategy, Marathon Digital, Riot Blockchain, Coinbase, Silvergate Capital, Robinhood, and Interactive Brokers have holdings in the fund.