India sends tax notices to cryptocurrency investors as trading hits $3.5 billion

By Rupam Jain and Manoj Kumar

NEW DELHI - India has sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than $3.5 billion worth of transactions have been conducted over a 17-month period, the income tax department said.

Tech-savvy young investors, real estate players and jewellers are among those in

South Korea considers shutting down domestic cryptocurrency exchanges

By Dahee Kim and Cynthia Kim

SEOUL - South Korean policymakers joined the global chorus of virtual-coin critics on Thursday, saying Seoul is considering shutting down domestic virtual currency exchanges as the new breed of market exposes users to speculative frenzy and crime.

The country's tough stance comes as policymakers from the Unit

USDINR trading range for the day is 63.45-64.56 - Kedia

USDINR

* USDINR trading range for the day is 63.45-64.56.

* Rupee slumped after a central bank deputy governor highlighted growing balance sheet risks for state banks due to their high exposure to government securities.

* Deputy governor of the Reserve Bank of India (RBI) said public sector lenders face risks of high interest rate f

Rupee appreciation not to impact long-term: Analyst

Mumbai -  An appreciating rupee would not impact Indian IT firms in the long-term due to their higher hedging against the US dollar, said an analyst on Tuesday.

"Though the rupee appreciation will have an impact on IT firms in the short or near term, they are safe because of their hedging against the US dollar at a higher level," IDBI Capital Associate

Bitcoin slides as website drops South Korea prices from virtual currency rates

By Gertrude Chavez-Dreyfuss

NEW YORK  - Bitcoin sank on Monday after website CoinMarketCap removed prices from South Korean exchanges from its calculations of digital currency rates without any warning, resulting in a steep drop in all virtual coins they track.

CoinMarketCap shows real-time prices and market capitalizations for more than 1,300 cryptocur

Bitcoin is an asset, not a currency: Israel's central bank

By Steven Scheer

JERUSALEM - Israel's central bank said on Monday it would not recognise virtual currencies such as bitcoin as actual currency and that it was difficult to devise regulations to monitor the risks of such activity to the country's banks and their clients.

Deputy Governor Nadine Baudot-Trajtenberg said there had been public complaints Israeli banks were