Latest news with #SumitGupta
Mint
a day ago
- Business
- Mint
Bitcoin 2.0 for India: Fad, Hedge, or the Future of Investing?
Focus Published 21 Jun 2025, 04:38 PM IST As equity traders and HNIs begin taking a closer look at digital assets, Bitcoin is rapidly evolving from speculative tech curiosity to a serious contender in long-term portfolios. In this interactive explainer, we build on an exclusive conversation with Sumit Gupta, where he shares why Indian investors are rethinking their allocation strategy—and how crypto is quietly entering the financial mainstream. Is Bitcoin now a mainstream asset, and how much should I allocate? Contact: Note to the Reader: Readers are advised that Crypto products and NFTs are unregulated and involve significant risks. There may be no regulatory recourse for losses arising from such transactions. Mint / HTDS and Mint shall not, in any manner, be responsible or liable for the content of the article, advertisement, including the views, opinions, announcements, declarations, or affirmations expressed therein, and are absolved from any legal action or enforceable claims. This content is for informational and awareness purposes only and does not constitute financial advice.
Coin Geek
12-06-2025
- Business
- Coin Geek
India to boost 'crypto' rules amid court directive, RBI warning
Getting your Trinity Audio player ready... India is expected to unveil a comprehensive discussion paper on digital assets in the coming weeks, reflecting insights from international bodies such as the International Monetary Fund (IMF) and the Financial Stability Board (FSB). This initiative reportedly signals the country's intent to explore a structured regulatory approach in response to the increasing global legitimacy of digital assets. The development of this policy paper coincides with shifting global dynamics, notably influenced by the United States' more favorable outlook on digital assets, particularly following growing support under President Donald Trump. India is engaging with multiple stakeholders and prioritizing a cautious, consultative process rather than making hasty decisions. The forthcoming document is expected to present a range of regulatory options to help shape the country's strategic stance on digital currencies in line with global standards. 'India to release the most-awaited discussion paper on crypto in June 2025! My sense is that it will cover the key risks associated with the sector and seek public comments to build further thoughts around crypto policy but no commitment on regulation yet,' said Sumit Gupta, co-founder of CoinDCX, India's first digital currency unicorn. 'The release of this discussion paper will 'finally' provide opportunities to Indian crypto investors/industry players/media to provide comments/feedback on the sector,' Gupta added. In July 2024, CoinDCX listed the BSV token for trading on its platform, allowing users to have more ways to buy, sell, and trade BSV. With CoinDCX's roughly 15 million registered users, the listing marks a significant expansion into the Indian market for BSV and demonstrates its potential and possibility in the region. Earlier this year, Ajay Seth, Secretary of the Department of Economic Affairs, stated that the Reserve Bank of India (RBI) had provided input for a discussion paper on digital assets. However, its publication was postponed due to shifts in the global regulatory landscape, as multiple nations re-evaluated their approaches to digital assets—especially in relation to stablecoins and international payment systems. Supreme Court slams delay in 'crypto' regulation The intention to speed up the regulation of digital assets comes days after the Supreme Court of India expressed strong dissatisfaction with the federal government's ongoing delay in establishing a regulatory framework for digital assets. According to a media report, the top court warned that the vacuum in legislation has enabled widespread abuse and financial misconduct. It emphasized that the lack of oversight has allowed digital currencies to be used in ways similar to 'hawala,' an illicit and informal system of cross-border money transfers. The court also flagged practical challenges for law enforcement, particularly when it comes to gathering evidence without a clear legal definition or regulatory standards for digital assets. These statements emerged during the hearing of a bail application filed by Shailesh Babulal Bhatt, a resident of Gujarat in western India, who faces fraud allegations involving 'cryptocurrencies' across several Indian provinces. Although the petition itself was not centered on broader digital asset policy, the bench—comprising Justices Surya Kant and N. Kotiswar Singh—used the occasion to voice apprehensions about the regulatory void in the digital asset space. More broadly, the court reminded the federal government that it had previously, nearly two years ago, called for a definitive policy direction on digital currencies. While acknowledging that an outright ban on digital assets would be counterproductive, given their growing importance in global finance, the bench stressed the urgent need for regulation. RBI repeats crypto risks to financial stability On the other hand, India's central bank continues to be concerned about digital asset trading, claiming it can hamper financial stability. 'There is no new development in so far as crypto is concerned. There is a committee in the government which is looking after this. Of course, as you are aware, we are concerned about crypto because that can hamper financial stability and monetary policy,' said RBI Governor Sanjay Malhotra during the post-Monetary Policy press conference on June 6. The RBI has raised concerns about 'cryptocurrencies' on multiple occasions. Shaktikanta Das, former RBI Governor, consistently warned that digital assets pose serious risks to the financial system. He argued that digital assets could undermine the banking sector's stability, complicate efforts to manage inflation during economic crises, and potentially lead to the emergence of an unregulated parallel monetary system. Das was a strong advocate for a complete ban on digital assets, comparing their use to gambling. However, instead of an outright ban, the government imposed one of the harshest taxation on digital asset trading—30% flat tax on all digital currency income with no provision to offset losses and a 1% tax deducted at source (TDS) on all transactions above Rs 10,000 ($116). This may likely lead to a loss of about $1.2 trillion in trade volume on domestic exchanges, according to a study from Esya Centre, an Indian policy think tank. RBI's decision to reduce interest rate positive for crypto The current RBI's monetary policy committee, led by Malhotra, recently made headlines by reducing interest rates by 50 basis points to 5.5%. The reduction was more than expected. RBI also lowered the cash reserve ratio, boosting liquidity to support the slowing economy as inflation eases. These bold steps reflect rising concern over India's economic slowdown and global uncertainties, including U.S. trade tensions. 'Our aspiration is to grow at 8%, and we would like to grow as fast as possible,' the governor said during the post-policy press conference. The central bank kept its growth forecast at 6.5% for the current fiscal year that began in April but lowered its inflation estimate to 3.7% from 4%. It also warned that there is little room for more rate cuts and said future decisions will be based on new economic data. 'We see the RBI's decision to reduce the repo rate as a positive signal for continued investor participation in crypto,' Gupta of CoinDCX said in an emailed statement. 'With repo rates at their lowest levels in three years, traditional instruments like fixed deposits may appear less attractive, prompting investors to seek better diversification and returns through alternative assets. At CoinDCX, we are witnessing increased interest from both retail and institutional investors who view crypto as a strategic asset within a well-balanced portfolio.' Watch: India is going to be the frontrunner in digitalization title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen=""> India Regulation Reserve Bank of India Sanjay Malhotra Sumit Gupta Trading
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Business Standard
10-06-2025
- Business
- Business Standard
CoinDCX spot trading volumes jump 32% in May, BTC remains most traded token
CoinDCX witnessed a 32 per cent surge in spot trading volumes, hitting ₹492 million in May 2025 compared to ₹374 million in April. The sharp recovery highlights the growing confidence among users. Sumit Gupta, co-founder at CoinDCX said that the 32 per cent uptick in spot trading volume this May reflects more than just platform growth, it signals growing investor confidence amid global acceptance. "With increasing policy momentum in key markets and India's growing participation in the digital asset economy, we believe this is just the beginning of a more sustained upward trend. At CoinDCX, we remain committed to building a secure, compliant, and user-first platform that empowers the next wave of crypto adoption," he added. CoinDCX owns a total of $606.61 million in assets, reaffirming its strong reserve position. Of this, $448.99 million is held on blockchain, while $157.61 million is secured with partners. Bitcoin (BTC) and Ethereum (ETH) are the most actively traded tokens on CoinDCX in May 2025, with volumes of $29.5 million and $21.7 million, respectively. Moodeng emerged as a breakout breakout performer with $14.4 million in volume, reflecting the growing interest in emerging narratives. Ripple (XRP) and Solana (SOL) also featured among the top five, reinforcing investor interest in high-liquid assets. The company also made some major product advances in May this year. Major infrastructure upgrades were implemented in the Futures platform to reduce latency and enhance stability under high-load conditions, offering traders faster and more seamless execution. "A redesigned journey tailored for first-time and novice users enables easier onboarding and clearer decision-making in futures trading," the company said in a statement. In addition, real-time savings were rolled out, eliminating delays and enhancing user satisfaction across trading flows. In the ongoing month, the exchange's focus remains on optimising platform performance, expanding product capabilities, and elevating user experience through transparency and trust.
Time of India
31-05-2025
- Sport
- Time of India
Jaipur tennis player Saumya Chaudhary helps India win gold in Sri Lanka
Jaipur: Rajasthan's talented tennis player Saumya Chaudhary has made the biggest splash so far in the Under-12 category. In the recently concluded U-12 international tennis tournament in Colombo, Sri Lanka, she helped India win the gold medal. India upset hosts Sri Lanka 4–0 in the final. After this triumph, the Indian team has qualified for the ATF Under-12 Tennis Championship slated to be held in Singapore from August 25 to 30 this year. An eleven-year-old Saumya said that the Colombo tourney was a great experience for her as India emerged champions by remaining unbeaten. The promising Jaipur player won all her singles matches against Bhutan, Nepal, Pakistan and Sri Lanka to help India qualify for the Singapore tournament. Saumya made her international debut in the U-14 category in Thailand last month, where she won her first gold. Saumya was born on December 23, 2013, in Jaipur. From a very young age, she showed deep passion and dedication towards tennis. She started playing tennis at the age of 7 under the guidance of international coach Sumit Gupta. She has performed brilliantly by winning many singles and doubles national ranking and super series tournaments. Saumya credits her school, international coach Sumit Gupta and her family for her amazing success. Her grandfather Chand Chaudhary is a famous businessman and social worker. Her father Rahul Chaudhary and mother Sunita Chaudhary are also well-known businessmen. In fact, recognizing his talent, his grandparents encouraged him to pursue sports. She is a true child prodigy, and her success is a result of her dedication, encouragement from his family and coaches.
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Business Standard
23-05-2025
- Business
- Business Standard
How AI is transforming operations from startups to corporations
Artificial Intelligence is no longer just a buzzword—it's a business imperative. From streamlining everyday tasks in local startups to revolutionising global supply chains in multinational corporations, AI is rapidly reshaping the dynamics of business operations across every scale. According to a 2025 report by McKinsey, 79 per cent of global executives say they have adopted AI in at least one business unit. The shift is so significant that productivity gains attributed to AI integration are projected to add $4.4 trillion annually to the global economy by 2030. 'From what I've seen across fast-paced, data-heavy orgs, AI agents are already taking over the grunt work: automated QA, anomaly detection, summarising dashboards using MCP, even writing first drafts of SQL queries,' said Sumit Gupta, AI and Data Science Leader at Notion. 'What used to take hours now happens in seconds—and that's not a tagline, that's my day-to-day. Microsoft's CEO recently said 30 per cent of their code is now written by AI. Amazon cut supply chain forecasting errors by 15 per cent. This isn't future talk—it's happening now.' For smaller businesses, AI's biggest value lies in automation and customer engagement. Platforms powered by machine learning can now handle social media responses, schedule meetings, personalize email campaigns, and even track inventory—all with minimal human input. Gaurav Gupta, a global digital transformation strategist, emphasises how AI is tailoring itself to different organisational scales: 'AI is changing the way businesses connect with customers and manage their operations. For smaller companies, AI is helping in automating daily tasks and personalising customer experiences. Midsized organisations are using AI to make their CRM systems smarter and their processes faster. At the enterprise level, AI is making it possible to connect complex systems, predict customer needs, and streamline decision-making.' For mid-sized firms, AI drives not only efficiency but also insight. Companies using AI-driven CRM platforms report up to a 40 per cent increase in lead conversion rates, according to Salesforce's 2024 State of Marketing Report. And for large enterprises, the shift is seismic. Predictive maintenance, AI-powered diagnostics, intelligent logistics, and hyper-personalised customer journeys are becoming standard. 'AI is fundamentally transforming business operations by turning data into strategic value,' said Abrar Ahmed Syed, a data pioneer with cross-continental experience. 'Small businesses benefit through automation and engagement. Midsized firms gain from optimization and insights. Enterprises use AI for predictive analytics, intelligent supply chains, and innovation at scale. As data complexity increases, AI evolves from a supportive tool to a strategic necessity.' The energy sector, in particular, is seeing breakthrough innovation. Drumil Joshi, Monitoring and Diagnostics Analyst at Southern Power Company, notes: 'AI is no longer a futuristic concept; it's today's competitive edge. From streamlining supply chains in startups to powering predictive diagnostics in billion-dollar energy systems, AI is redefining how business is done. It empowers leaders to anticipate, adapt, and accelerate. The real disruptors aren't just using AI; they're mastering it to lead entire industries into a smarter, faster, and more sustainable future.' Despite these strides, challenges remain. Data privacy, algorithmic transparency, and workforce adaptation are top concerns for business leaders. However, with AI investment forecasted to surpass $500 billion globally by 2027, the trajectory is clear: businesses that embrace and master AI will define the next era of commerce.
