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Apple Drops Cryptocurrency Apps in India Following Legal Concerns – AppleMagazine

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10 months ago

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Apple Drops Cryptocurrency Apps in India Following Legal Concerns – AppleMagazine

Apple has taken a significant step in its India operations by removing a selection of cryptocurrency apps from its App Store. This move comes in the wake of India’s Financial Intelligence Unit (FIU) declaring that nine crypto exchanges were not in compliance with anti-money laundering laws.

Subsequently, the IT Ministry requested the blocking of these websites in India, a request that Apple has seemingly adhered to by withdrawing the associated apps.

Reported by TechCrunch, the removals impact a total of nine services, including major players in the crypto exchange market such as Binance, Kraken, Huobi, Gate.io, Bittrex, Bitfinex, and OKX.

Interestingly, Bitstamp, another service named by the FIU, was still operational on the App Store at the time of TechCrunch’s report.

It is presumed that Apple’s decision to delist these apps from the Indian App Store is in response to directives from the IT Ministry. Notably, the removals are specific to the App Store; the websites of these services remain accessible within India, and their apps are still available for download on the Google Play Store.

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As of now, Apple has not issued any official statement regarding the removal of these cryptocurrency apps. Users who had previously downloaded these apps appear to be able to use them without any disruption currently.

This development is part of a broader crypto crackdown in India, which saw the introduction of stringent virtual currency taxes in 2023. These include a 30% tax on crypto gains and a 1% tax on transactions.

Cryptocurrencies, digital operation | Digital economy

Despite this regulatory environment, some exchanges continue to operate legally within India, such as CoinSwitch Kuber and CoinDCX.

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Crypto

Dogecoin Up 3%, Shiba Inu Up 4%: What Is Going On?

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58 seconds ago

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November 22, 2024

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Dogecoin Up 3%, Shiba Inu Up 4%: What Is Going On?

Dogecoin DOGE/USD and Shiba Inu SHIB/USD are trading around 3% higher in a single day boosted by the optimism in the cryptocurrency market.

Cryptocurrency Price              Market Cap 24-Hour Trend 7-Day Trend
Dogecoin  $0.3923 $57.6 Billion  +2.8%  +5.3%
Shiba Inu  $0.00002496 $14.7 Billion  +4.2%  +3.1%

Trader Notes: Analysts see bullish potential for the top two meme coins.

Crypto chart analyst Ali Martinez predicts a potential rally for Shiba Inu, suggesting SHIB could hit $0.00049 if it mirrors DOGE’s pattern.

Trader Javon Marks highlights SHIB’s daily chart with a possible bull pattern confirmation. A breakout target of $0.000081—216% above current levels—could see SHIB surge more than 200%.

For Dogecoin, Altcoin Sherpa notes the recent correction as not bearish, seeing opportunities for buyers with another leg up expected soon.

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Crypto Amsterdam observes DOGE hovering in a mid-range phase, suggesting $1 could be on the horizon.

Meanwhile, trader Kevin forecasts a DOGE breakout by Saturday.

Statistics:  IntoTheBlock Data shows:

  • Large transaction volume increasing for DOGE (+41.1%) and SHIB (+44.9%).
  • Daily active addresses rising by 34.9% for DOGE and 10.7% for SHIB.
  • SHIB transactions above $100,000 up from 332 to 399 in one day.

Shibarium Activity: Daily transactions climbed from 4.66 million on Nov. 20 to 4.75 million on Nov. 21.

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Image: Shutterstock

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Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Crypto

Bitcoin nears $100,000 as investors bet on crypto-friendly Trump policies

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10 hours ago

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November 21, 2024

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Bitcoin nears 0,000 as investors bet on crypto-friendly Trump policies

World’s popular digital currency rises as high as $99,073 on expectations Trump will ease legal and regulatory hurdles.

Bitcoin is nearing the $100,000 mark as crypto enthusiasts bet that United States President-elect Donald Trump will usher in a more welcoming regulatory environment for digital assets.

The world’s most popular digital currency rose as high as $99,073 on Thursday, extending its surge since Trump’s re-election on November 5.

The commodity has risen more than 60 percent since election day as investors anticipate Trump’s incoming administration to ease regulatory and legal hurdles to its use.

Trump, who called the asset a “scam” during his first term, accepted campaign donations in cryptocurrency, and has pledged to make the US “the crypto capital of the planet” and accumulate a national bitcoin reserve.

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Trump and his three sons in September also announced the launch of their own crypto business, World Liberty Financial, which investors have taken as a promising sign of the president-elect’s belief in the sector.

In another bullish signal for the sector on Thursday, United States Securities and Exchange Commission (SEC) chair, Gary Gensler, who was widely disliked among crypto investors for his aggressive enforcement actions targeting the sector, confirmed that he would step down in January.

Trump had pledged to fire Gensler on “day one” of his administration, though the president does not have the authority to remove the SEC chair before the end of his or her term.

While viewed by supporters as a ticket to big returns and financial freedom, Bitcoin and other cryptocurrencies are known for their volatility and have faced government crackdowns in several parts of the world.

After climbing to a record high of $69,000 in late 2021, Bitcoin plunged to less than $16,000 over the following year.

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The commodity burst past its previous peak in March after gaining more than 300 percent since November 2022.

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Shemaroo Entertainment and PWR Chain Announce Strategic Partnership to Revolutionize India’s Digital Entertainment through Blockchain Innovation – Press release Bitcoin News

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18 hours ago

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November 21, 2024

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Shemaroo Entertainment and PWR Chain Announce Strategic Partnership to Revolutionize India’s Digital Entertainment through Blockchain Innovation – Press release Bitcoin News

Shemaroo Entertainment and PWR Chain Announce Strategic Partnership to Revolutionize India’s Digital Entertainment through Blockchain Innovation – Press release Bitcoin News





















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