Cryptocurrencies see a ray of hope in India
Coinbase, a leading global crypto exchange, is looking to set up a base in India
The company will start with remote operations and open an office later in Hyderabad
Meanwhile, the Indian govt has directed companies to disclose their cryptocurrency investments in annual filings
Profit or loss in crypto or virtual currency transactions should be disclosed
Also, the amount of cryptocurrency held at the reporting date
Deposits or advances from entities trading or investing in crypto should also be disclosed
Both the developments suggest that an outright ban on crypto might not happen
