Crypto Events
By Dan Saada
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The Indian Ministry of Corporate Affairs (MCA) have issued a notification in the last week requiring companies to disclose their crypto trading and investments during the…
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Reportedly, every company which “has traded or invested in cryptocurrency or virtual currency during the financial year” should disclose “profit or loss on transactions involving…
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The Indian crypto companies are welcoming the new requirements from the government with the belief that it legitimizes cryptocurrency transactions.
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However, there was a recent speculation around ban, and this notification of permitting cryptocurrencies to be a part of accounting practices will surely put investors at ease.
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He further stated: “This is a definite endorsement, and it is good to see that India is not falling behind the global cryptocurrency race.
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A cryptocurrency bill is long expected. The Indian Financial Minister has given some information about what might be the contents in the expected crypto bill.
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Cryptocurrencies are already becoming an extension of what users do every day. They are a part of making payments possible across the world.
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Of late, several Indian cryptocurrency exchanges are offering comprehensive sets of solutions to address concerns about government and officials when it comes to the transactions…
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All the companies should now disclose in their statutory financial filings to the Registrar of Companies any profit or loss on transactions, which consists of cryptocurrencies.
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Setting disclosure requirements is a major step in the process of regulating crypto assets in India.
The Currency Analytics
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