Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

A few firms, including <keyword id="10587326" type="General" weightage="100" keywordseo="coinswitch" source="Orion">CoinSwitch</keyword> and <keyword id="6416838" type="General" weightage="20" keywordseo="coindcx" source="Orion">CoinDCX</keyword> dealing in cryptocurrency have been asked by the <keyword id="6357808" type="General" weightage="20" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (ED) to submit some documents in connection with an ongoing case of the <keyword id="88944" type="General" weightage="50" keywordseo="foreign-exchange-management-act" source="Orion">Foreign Exchange Management Act</keyword> (FEMA). The ED is trying to ascertain whether these firms were involved in foreign exchange violations or not. According to sources, the ED sent notices to CoinSwitch and CoinDCX, both firms deal into cryptocurrency exchange. Earlier, <keyword id="208535" type="General" weightage="50" keywordseo="sumit-gupta" source="Orion">Sumit Gupta</keyword> the founder of CoinDCX was questioned at ED's Bengaluru office. He was summoned following which he had recorded his statements. People working as executives and looking after the work in cryptocurrency exchanges firms were also served notices to record their statements. ED sources said they will scan the transactions of the last three years done by these two firms and their Chartered Accountants (CA) will also be questioned. CoinDCX said in a statement that as per their understanding, "the ED has sent notices to major exchanges in India seeking information and data on how platforms work. As required, we have shared all necessary information to the satisfaction of the department and no subsequent action is pending at our end". CoinSwitch also confirmed that they were sent notices by the ED and they were willing to comply. "We receive queries from various government agencies. Our approach has always been one of transparency. <keyword id="2721952" type="General" weightage="80" keywordseo="crypto" source="Orion">Crypto</keyword> is an early-stage industry with a lot of potential and we continuously engage with all stakeholders," a CoinSwitch spokesperson said. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/flexibility-is-passe-companies-are-ready-to-re-design-jobs-to-retain-talent/articleshow/92696760.cms">Flexibility is passe, companies are ready to re-design jobs to retain talent</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/specialty-chemical-sector-is-the-new-investor-darling-thanks-to-a-weak-rupee-global-demand/articleshow/92696554.cms">Specialty chemical sector is the new investor darling thanks to a weak rupee &amp; global demand</a>

ED send notices to crypto firms — CoinSwitch, CoinDCX to probe any foreign exchange violations

<ul class="summary-list"><li><keyword id="6416838" type="PERSON" weightage="60" keywordseo="coindcx">CoinDCX</keyword>, <keyword id="3658" type="COUNTRY" weightage="60" keywordseo="India">India</keyword>'s biggest <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword> exchange, announced on Tuesday a fresh valuation of $1.1 billion as crypto has grown parabolically in the country, according to a Bloomberg report.</li><li>The new valuation cements the firm's status as India's first crypto <keyword id="152045" type="ORGANIZATION" weightage="60" keywordseo="Unicorn">unicorn</keyword> and comes as investment in the country's digital-asset space has multiplied seven-fold in the past year.</li><li>In an interview with Insider, co-founder and CTO Neeraj Khandelwal said that his company, just founded in 2018, had global ambitions.</li></ul>CoinDCX, an Indian crypto exchange backed by <a href="https://markets.businessinsider.com/stocks/fb-stock">Facebook</a> co-founder Eduardo Saverin, announced on Tuesday a fresh valuation of $1.1 billion as crypto has grown parabolically in the country, according to a <a href="https://www.bloomberg.com/news/articles/2021-08-10/saverin-backed-exchange-becomes-india-s-first-crypto-unicorn#:~:text=CoinDCX%20became%20India's%20first%20cryptocurrency,push%20back%20against%20crypto%20assets.ets.">Bloomberg report</a>.In an interview with Insider, co-founder and CTO Neeraj Khandelwal said that his company, founded in 2018 and already the biggest crypto firm in India, had global ambitions. "We have customers from more than 65 countries, even though we have never marketed ourselves outside India," said Khandelwal. "That is why we are investing as a company in launching a global platform."The company's "liquidity aggregation" model pools orders from several exchanges via a single wallet on CoinDCX. Other exchanges have employed such a system, but CoinDCX is the first to do so for a broad retail audience alongside standard features like margin trading, Khandelwal said.CoinDCX's new valuation cements its status as India's first crypto unicorn and comes as investment in the country's digital-asset space has multiplied seven-fold in the past year, according to Chainalysis data cited by Bloomberg.For years, the Indian government has appeared to fall squarely in the crypto-skeptical camp, alongside the likes of China and Russia. In 2018, the central bank of India banned banks from dealing with crypto companies, though this was later struck down by the supreme court. Parliament is currently considering a full ban on the asset class.But Khandelwal seemed more sanguine, telling Insider that many in government - aside from the central bank - are changing their tune on crypto, pointing to a growing effort to replace bans with regulation."In the corridors of the government, <a href="https://markets.businessinsider.com/currencies/btc-usd">bitcoin</a> and cryptocurrencies are simply this new technology which India is crazy about," he said. "India certainly does not want to go the China way."

An Eduardo Saverin-backed exchange just became India's first crypto unicorn amid surging interest

What 'actually' happened in the world of crypto in April?

<ul><li><keyword id="6416838" type="PERSON" weightage="20" keywordseo="coindcx">CoinDCX</keyword> has launched a new campaign to expand its reach. </li><li>It is also offering 1 <keyword id="6354947" type="LOCATION" weightage="20" keywordseo="bitcoin">Bitcoin</keyword> to a few lucky users.</li></ul>CoinDCX has launched a digital campaign titled #BitcoinLiyaKya on all social media platforms to bring new users onboard. The campaign employs a humorous story-telling approach to introduce cryptocurrencies like Bitcoin as the latest must-have investment for Indian investors. It aims to appeal to not just the millennial &amp; Gen-Z populations that have taken a liking to the crypto space but also the boomer generation that may have had apprehensions in venturing into this relatively new asset space. The #BitcoinLiyaKya campaign is currently live on YouTube, Facebook, LinkedIn, Instagram and Twitter handles. <div type="Youtube" id="YZlMBI3Qzu8" title="Bitcoin Liya Kya? | Prince and the Bitcoin | CoinDCX Go App #BitcoinLiyaKya #CoinDCXGo #TryCrypto" thumbUrl="https://i.ytimg.com/vi/YZlMBI3Qzu8/mqdefault.jpg"></div> With a special focus on Bitcoin in this campaign, CoinDCX is incentivizing new users with Rs 100 worth of free bitcoin through voucher code "CoinDCX Go." Additionally, a few lucky users stand a chance to each win a portfolio of 1 Bitcoin. Speaking on the purpose and timing of this campaign, Ramalingam Subramanian, Head of Brand and Communication, CoinDCX said, "with the #BitcoinLiyaKya campaign, we aim the viewers to consider Bitcoin as an investment class asset. We want people of India to consider investing 1 to 5% of their portfolio in crypto-assets such as Bitcoin. I think the millennials are digital savvy, they will be benefiting the most by investing in this digital gold." He added, "at CoinDCX, we have been empowering investors in making safe &amp; secure investments in popular crypto-assets like Bitcoin since our inception in 2018. Our CoinDCX Go app has been launched to facilitate the same purpose, and it has already crossed 1 million downloads in just five months. We aim to onboard new investors by leveraging the virtues of the simple, safe and compliant crypto ecosystem through this campaign and march towards building a larger investor community". Creating a pre-loaded portfolio on CoinDCX Go is simple and hassle-free. One only needs to install the CoinDCX Go app, signup and add the voucher code "CoinDCX Go". However, users must hold the portfolio for a month to unlock it and make at least one purchase.

Cryptocurrency exchange platform CoinDCX launches a new ad to encourage millennials and Gen-Z to invest

You Searched For "coindcx" and got 4 results

ED send notices to crypto firms — CoinSwitch, CoinDCX to probe any foreign exchange violations

IANS

An Eduardo Saverin-backed exchange just became India's first crypto unicorn amid surging interest

Ethan Wu

What 'actually' happened in the world of crypto in April?

Business Insider India

Cryptocurrency exchange platform CoinDCX launches a new ad to encourage millennials and Gen-Z to invest

BI India Partner

Popular Keywords

Buying Guides