Strategy, the largest corporate holder of Bitcoin, submitted a formal objection describing the threshold as “discriminatory, arbitrary, and unworkable,” warning that it would redefine operating companies as investment funds based solely on balance sheet composition rather than business activity.
Kwon, 34, pleaded guilty to conspiracy to defraud and wire fraud. US District Judge Paul Engelmayer delivered the sentence at a New York hearing, calling the case “a fraud of epic generational scale.”
Speaking at IBW, John O’Loghlen, Coinbase’s APAC director, described the reset as intentional rather than reactive. He noted that the company chose to “burn the boats”. It decided to remove all legacy Indian accounts to restart under a structure that aligns fully with domestic oversight.
The government said Maharashtra accounted for ₹293 crore of the FY25 TDS total, followed by Karnataka with ₹133 crore, underscoring the concentration of trading activity in India’s major technology and financial centres.
CoinSwitch said the handbook will be distributed across police stations and cybersecurity units to offer practical clarity on asset tracing, crime typologies, and compliance frameworks.
