Latest news with #PoR
Hans India
08-05-2025
- Business
- Hans India
CoinSwitch releases Proof of Reserves report
Hyderabad: CoinSwitch, a crypto platform with over 2 crore users, has released its fifth Proof of Reserves (PoR) report, reaffirming its commitment to transparency, trust, and investor protection. The report confirms that CoinSwitch holds more crypto and INR assets than the total amount held by its customers. As of March 31, the company's total reserves stood at Rs2,764.20 crore, compared to customer holdings of Rs2,138.64 crore creating a surplus of Rs625.56 crore. This surplus reflects the company's prudent asset and liquidity management, providing reassurance to its growing investor base not only in large metros but also in smaller towns across the country. According to the comapny's recent How India Invests 2024 report, Hyderabad ranks among the top Tier-2 cities leading crypto adoption in India.
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Business Standard
07-05-2025
- Business
- Business Standard
CoinSwitch's fifth PoR shows ₹625 crore surplus over customer holdings
Crypto exchange platform CoinSwitch on Wednesday announced its fifth edition of proof of reserves (PoR) data, stating that the company's overall holdings of crypto and Indian currency balances were higher than those of its customers. The company's total reserves, including crypto and INR balances, were recorded at Rs 2,764.20 crore, while customer holdings stood at Rs 2,138.64 crore as of March 2025. The company's reserves represented a surplus of Rs 625.56 crore. When it came to the holdings of virtual digital assets alone, the company said that crypto user holdings were recorded at Rs 2,043.15 crore, whereas CoinSwitch's total crypto asset holdings stood at Rs 2,576.54 crore. PoR is the 'proof' that a financial entity has the holdings it claims to have. A PoR audit is published by crypto firms to inform customers that a custodian or a crypto platform is adequately liquid and that users can withdraw their funds at any time. It provides transparency on both the user's and the crypto exchange's holdings. In the third edition of the proof of reserves published last year, the company's crypto holdings stood at Rs 3,497.22 crore, whereas user holdings in the same basket were Rs 2,774.10 crore. 'This proof of reserves, now in its fifth edition, reflects our uncompromising focus on fund safety and user protection. We will continue to lead by example in bringing accountability and trust to India's crypto space,' said Balaji Srihari, vice-president, CoinSwitch. CoinSwitch has more than 20 million registered users. It was founded in 2017.
The Print
05-05-2025
- Politics
- The Print
Afghan migrants in Pakistan decry mistreatment, continued arrests amid deportations
According to Tolo News, Afghan migrants called for urgent international support, with the IFRC stating that they have launched an emergency appeal to support returning Afghan migrants. Islamabad [Pakistan], May 5 (ANI): Afghan migrants reported continued arrests and mistreatment by Pakistan as they face deportations, Tolo News reported. Notably, a large number of Afghan migrants residing in Iran and Pakistan are complaining about various challenges in these countries. They criticized the continued arrests and forced returns of Afghan migrants by the police in both countries and called on refugee-supporting organizations to address their problems. As per Tolo News, many Afghan migrants in Pakistan also reported continued arrests and mistreatment by the host country, urging refugee-support organizations to seriously address their concerns. An Afghan migrant in Pakistan, told Tolo News, 'There are 1.4 million holders of PoR cards and 800,000 holders of ACC cards living here who have businesses and cannot wrap up and relocate their work in just one or two months. They are heavily involved in commercial activities in Pakistan.' Another Afghan migrant in Pakistan, said: 'Authorities in Afghanistan are obliged to engage, through mediation by international organizations including UNHCR and IOM and under international documents such as the Geneva Convention, in negotiations with officials in Islamabad and Tehran to resolve the issues of Afghan migrants in both countries.' Tolo News also reported that some of these migrants said that after the invalidation of census documents, Afghan migrants who went to the Kafalat office in Iran were issued exit permits. Meanwhile, the International Federation of the Red Cross and Red Crescent has issued a statement saying that due to the intensifying return crisis, the organization has launched an emergency appeal to support returning Afghan migrants. Previously, Amnesty International had called on Pakistan to halt the detentions and deportations, stressing that these actions violate the principle of non-refoulement, which prohibits returning individuals to places where they face persecution. Deporting Afghan refugees, particularly women and girls, could deprive them of safety, education, and livelihood opportunities. In response to these developments, international organisations and advocacy groups are urging Pakistan to reconsider its deportation plans and honour its commitments to refugee protection, emphasising the importance of ensuring the safety and rights of Afghan refugees to avoid exacerbating the existing humanitarian crisis. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Express Tribune
19-04-2025
- Business
- Express Tribune
Islamabad, Kabul hold key talks on repatriation
In a significant development aimed at strengthening bilateral ties, a high-level delegation from Afghanistan's interim government met with Pakistan's Minister of State for Interior, Talal Chaudhry, and Interior Secretary Khurram Agha in Islamabad on Friday. The Afghan delegation was led by Acting Minister for Commerce and Industry Haji Nooruddin Azizi, and included the minister for refugees and repatriation, the Afghan ambassador to Pakistan, and other senior officials. During the meeting, both sides engaged in comprehensive discussions on key matters of mutual interest, including cross-border transit trade and the repatriation of Afghan nationals, currently residing in Pakistan. Chaudhry reaffirmed Pakistan's enduring commitment to fostering friendly and cooperative relations with Afghanistan. He noted that Pakistan had generously hosted millions of Afghan nationals over the past four decades and would continue to welcome those entering through legal channels. Chaudhry emphasised the government's efforts to manage migration in an orderly and lawful manner, citing the "One Document Regime" as a necessary step to ensure that only documented individuals remained in the country. He stressed that Afghan nationals were held in high regard and that their repatriation would be conducted with dignity and care. "To support this process, more than 50 transit camps equipped with medical and essential facilities have been established across the country," Chaudhry said. "Additionally, complaint cells under the supervision of the Ministry of Interior and provincial chief secretaries are operating to prevent any untoward incidents," he added. He assured that Afghan nationals holding Proof of Registration (PoR) cards would not face any difficulties until June 30, 2025. On the occasion, Azizi expressed gratitude for Pakistan's longstanding support of Afghan refugees and acknowledged the hospitality extended over the years. He conveyed the Afghan government's desire to deepen cooperation with Pakistan, particularly in areas of security and trade.
Express Tribune
06-04-2025
- Politics
- Express Tribune
6,700 Afghan nationals deported from Pakistan since April 1st
Afghan refugees wait in a queue to cross the Pakistan-Afghanistan border in Torkham on October 27, 2023. PHOTO: AFP Listen to article The repatriation of Afghan refugees continues as the deadline set by the government has passed, with 944 foreign families, comprising 6,700 individuals, deported from Pakistan since April 1st. Immigration sources reported that these individuals were transported to the Landi Kotal transit camp, where they underwent necessary processing before being deported through the Torkham border. Among those deported, 2,874 men, 1,755 women, and 2,071 children have returned to Afghanistan. The repatriation, which began on September 17th 2023, has seen a total of 70,494 Afghan families, representing 469,159 individuals, return to their homeland. In addition to the deportations, a police crackdown in Rawalpindi continues, targeting Afghan nationals residing illegally in the country. Since the beginning of April, 353 Afghan nationals have been detained for lacking valid residence documentation. The authorities have been focusing on those without Proof of Residence (PoR) cards and those with expired Afghan Citizen Cards. This ongoing operation has intensified the security measures at the Golra Mor holding centre, where detained Afghan nationals are being processed for deportation. The authorities have stated that the crackdown will continue, with further operations planned in the coming days. Earlier, Law enforcement agencies had intensified operations across several cities to facilitate the repatriation of Afghan Citizen Card (ACC) holders, particularly after the voluntary return period ended. Many Afghan-run shops and offices in commercial areas, especially in Peshawar, had remained closed, as businesses owned by Afghan nationals shut down following Eid. Authorities had also conducted a national re-verification campaign, with dozens of Afghan individuals having their Pakistani identity cards cancelled. A major crackdown was expected after April 11, with arrests likely to begin soon. In Rawalpindi, over 50 Afghan nationals holding ACCs were detained, transferred to temporary camps, and were set to be repatriated. In Karachi, similar operations had taken place, with 162 ACC holders already detained and taken to a holding facility. The operation targeted an estimated 16,138 individuals nationwide, with authorities confirming that some individuals with Proof of Registration (POR) cards had been released. The crackdown was ongoing, with law enforcement agencies conducting daily operations to ensure compliance with the government's deportation policy.
