CoinSwitch, a prominent Indian cryptocurrency exchange, is suing rival platform WazirX to recover trapped funds. © 2024 TechCrunch. All rights reserved. For personal use only.

CoinSwitch has published an in-depth analysis of India's crypto trends for the year, revealing that Shiba Inu, Dogecoin, and Pepecoin gained significant popularity. The report also highlights Delhi and Bengaluru as key crypto trading hubs. This release comes amid ongoing discussions by Indian regulators, who have not set a timeline for the implementation of comprehensive crypto laws. CoinSwitch's crypto community has surpassed 20 million users in 2024, with women accounting for 11% of the total crypto investors and holders. March and November saw the most crypto-related activities in India. In March, BTC was stable at $73,000 (roughly Rs.

CoinSwitch has published an in-depth analysis of India's crypto trends for the year, revealing that Shiba Inu, Dogecoin, and Pepecoin gained significant popularity. The report also highlights Delhi and Bengaluru as key crypto trading hubs. This release comes amid ongoing discussions by Indian regulators, who have not set a timeline for the implementation of comprehensive crypto laws. CoinSwitch's crypto community has surpassed 20 million users in 2024, with women accounting for 11% of the total crypto investors and holders.

Top Indian cryptocurrency exchanges like CoinSwitch Kuber, Unocoin, ZebPay, and CoinDCX are poised to lead the global crypto market in 2026 and beyond

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The announcement comes more than a year after Coinbase ceased operations in India due to regulatory challenges with UPI services.

CoinSwitch, India's largest crypto trading platform with over 2 crore users, announces the launch of Crypto Options for its users. Designed to meet the needs of a new generation of traders, this new offering brings together industry-low fees, real-time settlement, and 24x7 trading access in all market conditions, delivering a powerful and seamless experience for users looking to explore advanced trading strategies.

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CryptoMarket and Blockchain News

Bitcoin Reflected Small Price Dips of Under Two Percent on National and International Exchanges on Monday, March 17. $ 83,687 (roughly Rs. 72.6 lakh) on International Exchanges. Meanwhile, Indian Exchanges like coinswitch and giottus show bitcoin trading between $ 83,810 (roughly Rs. 72.7 lakh) and $ 87,506 (roughly Rs. 76 lakh). Bitcoin's price has remained sluggish for over two weeks, following a decline earlier this month after us President Donald Trump Escalated The Ongoing Tariff War. ,Bitcoin Traded within a tight range over the weekend. Us Bitcoin Spot ETFS Recorded Another Week of Heavy Net Outflows, with Investors WithDrawing Over $ 900 Million (Roughly Rs.

The cryptocurrency market showcased mixed movements on Friday, November 29. Bitcoin saw a slight uptick, gaining less than one percent on international exchanges. According to CoinMarketCap, Bitcoin is currently priced at $96,507 (roughly Rs. 81.5 lakh). On Indian platforms such as CoinSwitch, Bitcoin's value rose by around one percent, reaching $98,653 (roughly Rs. 83.3 lakh). Over the past 24 hours, Bitcoin's price has fluctuated between $94,000 (roughly Rs.

The crypto market was largely in the red on Monday, October 7, with most cryptocurrencies facing losses. Bitcoin saw minor declines of less than 1% on both international and domestic exchanges. As per CoinMarketCap data, BTC was trading at $63,625 (roughly Rs. 53.4 lakh) on global platforms. On Indian exchanges like CoinSwitch and CoinDCX, however, it was priced higher at around $65,430 (roughly Rs.

The encryption market remained slow throughout the month of March, without any significant changes in the short term. On Wednesday, March 19, Bitcoin witnessed a marginal decrease less than one percent through national and international stock exchanges. According to Coinmarketcap, the original is currently being traded at $ 83,000 (about 71.8 rupees of Cham) on global platforms. Meanwhile, Indian stock exchanges such as Coinswitch and Coindcx Bitcoin menu within $ 85,515 (74.8 Cham rupees) to 87,509 dollars (75.7.7 Rs.

Bitcoin on Monday, December 2 showed a minor gain of 0.35 percent on the global price chart. Over the weekend, the most expensive crypto asset managed to retain its value above the price point of $96,784 (roughly Rs. 81.9 lakh) on international exchanges, according to CoinMarketCap. On Indian exchanges, meanwhile, BTC is trading at $96,206 (roughly Rs. 81.4 lakh). According to platforms like CoinSwitch and CoinDCX, Bitcoin experienced a slight dip of less than 1 percent on Indian exchanges on Monday.

Addressing a question during the Lok Sabha on December 4, the Minister of State for Finance Pankaj Chaudhary said that 28 different virtual digital asset service providers (VDA-SPs) including WazirX, AQN Finance, Coinswitch and CoinDCX, have registered with the Financial Intelligence Unit- India (FIU-IND)– a government organization that collects financial intelligence about offenses under the Prevention of Money Laundering Act (PMLA), 2002. These organizations have registered with the FIU-IND under the anti-money laundering (AML) and countering the finance of terrorism (CFT) guidelines for virtual digital assets released in March this year. The minister also said that guidelines and reporting requirements apply to offshore crypto exchanges servicing the Indian market, and the process for registering such offshore crypto exchanges has been initiated. He said that appropriate action shall be initiated against those that fail to comply with the guidelines. Why it matters: The fact that these 28 companies registered with the FIU-IND could be seen as an attempt to establish legitimacy. Registration also assures these companies that their businesses are legally compliant and thus would not see any government action for non-compliance as mentioned by the minister. Notably, WazirX and CoinDCX were quick to register with FIU-IND, with reports of their registration breaking back in March. With others signing on as well, it will become easier for government authorities to procure data related to crypto transactions in a systematic fashion Who is required to register with the FIU-IND? The AML and CFT guidelines state that anyone providing services such as– exchange between virtual digital assets (like cryptocurrencies) and fiat currencies (like Rupee or the Dollar) exchange between one or more forms of virtual digital assets transfer of virtual digital assets safekeeping or administration of virtual digital assets financial services related to an issuer’s offer and sale of a virtual digital asset. (note: here issuer means the person who created a cryptocurrency) Starting March 10, 2023, anyone providing the above-mentioned services was required to register with the FIU-IND. As a part of this registration, they were required to disclose the account details of the banks/ financial institutions where they hold accounts for transactions and the money of their clients. Key requirements that service providers are expected to meet: Know Your Customer (KYC): Under the guidelines, crypto service providers are required to have a robust mechanism in place for complying with know-your-customer (KYC) requirements. They are expected to carry out KYC prior to onboarding customers as well as a one-time exercise in cases where KYC has not already been conducted as of the date the guidelines were issued. They must also conduct periodic KYC on existing customers at least every year. For the purpose of KYC, the companies can rely on the Permanent Account Number (PAN) or National Identity Number and official valid documents such as a passport, driver’s license, proof of possession of an Aadhaar number, and Voter ID. At any point in time when a service provider is no longer satisfied with the true identity of the customer, a Suspicious Transaction Report (STR) has to be filed with FIU-IND. Enhanced due diligence (EDD) norms: Service providers are required to examine as far as reasonably possible, the background and purpose of all complex, unusually large transactions, and all unusual patterns of transactions, which have no apparent economic or lawful purpose. These include: More frequent review of customers’ profiles/transactions Additional measures like gathering information from public sources Reasonable measures to know the customer’s source of funds, these measures must directly correspond with the assessed risk of customer and product profile Crypto service providers are also required to apply EDD norms to transactions when entering into business relationships with Politically Exposed Persons (PEPs) as defined under the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 (PMLR). You can read our detailed report on the guidelines here. Also read: ED Seizes Rs 46 Crore Under PMLA In China-Linked Crypto Mining Fraud Case Indian Government To Subject Crypto Transactions To Money Laundering Law How Many Crypto Exchanges Registered With India’s FIU Following Government Notification? STAY ON TOP OF TECH NEWS: Our daily newsletter with the top story of the day from MediaNama, delivered to your inbox before 9 AM. Click here to sign up today!   The post 28 crypto companies have registered with the Financial Intelligence Unit: Ministry of Finance says appeared first on MediaNama.


 Nearly three in four Indian crypto investors are aged 35 or below, suggests a CoinSwitch study, underscoring the strong tilt towards younger investors even as older cohorts show greater buying conviction and portfolio diversification.    
 Overall, investors aged 26–35 accounted for 50.5 per cent of CoinSwitch’s investor base in the April – June 2026 quarter (Q2CY26), followed by those aged 36–45 at 22.8 per cent.