"(North Korea) used increasingly sophisticated cyber techniques both to gain access to digital networks involved in cyber finance, and to steal information of potential value, including to its weapons programmes," independent sanctions monitors reported to a U.N. Security Council committee.
Finance Minister Nirmala Sitharaman stated on February 3 that she will be looking at developing a global SOP (standard operating procedure) for regulating crypto assets in her upcoming G20 meeting with finance ministers and central bank governors.
As per the Finance Bill 2023, failure to pay TDS on crypto transactions or crypto transactions where the payment is partly or wholly in kind under section Section 194S(1) can land the violator of the rule in jail for up to 7 years.
FTX, once among the world's top crypto exchanges, shook the sector in November by filing for bankruptcy, leaving an estimated 9 million customers and other investors facing total losses in the billions of dollars.
Sean O'Neal, the lawyer, spoke at an initial hearing in Manhattan bankruptcy court for Genesis Global Capital, the crypto lending business owned by Barry Silbert's venture capital firm Digital Currency Group.
Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty to fraud charges. He is scheduled to face trial in October.