What is the latest news regarding Cryptocurrency in India?

The Financial Intelligence Unit (FIU-India) issued compliance notices and blocked 15 offshore cryptocurrency platforms for failing to follow anti-money laundering laws.

Crackdown on Offshore Platforms

Action taken: FIU-India targeted 15 non-compliant digital asset platforms.

Blocked apps: Access ordered to block platforms like ChangeNow, SimpleSwap, and FixedFloat.

Government stance: Unregulated apps carry severe financial and security risks.

Stricter KYC and Tax Rules

Mandatory verification: Live selfies and penny-drop bank checks are enforced for user onboarding.

Global reporting: Central Board of Direct Taxes (CBDT) aligns local exchanges with OECD reporting frameworks.

High volume: Local transactions surpassed ₹51,000 crore during the 2024–25 tax period.

📈 Market Trends & Adoption

Young investors: Nearly 3 in 4 Indian crypto investors are under the age of 35.

Tier-2/3 growth: Smaller cities and towns drive a major share of new Gen Z adoption.

Policy outlook: The Finance Ministry continues to weigh comprehensive Virtual Digital Asset (VDA) frameworks amid a hawkish stance from the Reserve Bank of India (RBI).

Does Amitabh Bachchan have Bitcoin?

Amitabh Bachchan does not own Bitcoin directly, but he made a high-profile indirect investment in a company connected to cryptocurrency. YouTube +1The Investment Details

In May 2015, Amitabh Bachchan and his son, Abhishek Bachchan, invested $250,000 in a Singapore-based firm called Meridian Tech Pte. India Today +1

Meridian Tech was associated with Ziddu.com, a cloud service platform that later explored blockchain technology and token-based solutions tied to Bitcoin trade. The News Minute

Reports in late 2017 highlighted that this stake surged in value to roughly $17.5 million as cryptocurrency valuations soared. India Today +1

Media reports noted that while the value fluctuated heavily alongside market swings, the asset linkage tied the family name to the crypto boom. The Times of India

Bachchan also served as a brand ambassador for CoinDCX, an Indian crypto exchange, helping promote blockchain and digital asset awareness. Instagram +1

There are two types of people in the world right now; the ones who are raking in money via cryptocurrency, and the others who are still struggling to understand how investing works in the blockchain.

For Pakistanis, cryptocurrency recently came under the spotlight when the TV host-turned-influencer and crypto-enthusiast Waqar Zaka did the unsought labour to make people understand the workings of the bitcoin network. While many may have mocked him earlier, it seems like he had a point after all, and Bollywood superstar Amitabh Bachchan’s investment returns are proof of it!

According to a report in Economic Times, the Piku actor, along with his son, Abhishek Bachchan, invested around $250,000 (INR 16m) in a Singapore-based company called Meridian Tech Pte, founded by Venkata Srinivas Meenavalli. The investment gave a return of $17.5 million (INR 1.12b) within a period of two and a half years.

As per Firstpost, this wasn’t the only crypto investment that gave Bachchan a hefty return. His other investments have worked in his favour as well. A natural at it, he earned a 10.2 % return on his investment in JustDial, making INR 70 million out of INR 6.27 million in just four months. He had bought 62,794 shares of JustDial in 2013.

In other news, the veteran actor has some key projects in the pipeline, including Runway 34, Brahmastra, Jhund, Goodbye, and The Intern.