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India's government is reportedly reviewing its stance on digital assets, with policymakers reassessing their approach amid global regulatory advancements. Experts warn that India could lag in crypto and Web3 advancements if clear regulations are not established. The government has tightened compliance requirements around crypto, proposing amendments to the Income Tax Act for entities including crypto exchanges to disclose transaction details related to crypto assets.
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Binance, the world's largest cryptocurrency exchange, is reportedly seeking to reduce U.S. government oversight as it negotiates a business deal with World Liberty Financial, a crypto venture affiliated with the Trump family. The company has requested that the Treasury Department remove a federal monitor overseeing its compliance with anti-money-laundering laws, following a 2023 guilty plea and a $4.3 billion fine. Additionally, Binance is in talks to list a new Trump-backed stablecoin, USD1, which could yield significant profits for the Trump family if widely circulated. Critics warn of a troubling alliance between political leaders and actors previously penalized for facilitating illicit financial flows.
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