Blockchain & crypto news from India
On 1st February, while announcing the Budget 2022, Finance Minister Nirmala Sitharaman announced something unexpected. Sitharaman said income from the virtual or digital assets (cryptocurrency) will be taxed at @30%. In addition, @1% TDS (tax deducted at source) will also be levied by the government on these investments. The 30% taxation is retributive tax, harshly…
Very few today understand what NFTs or how they work, but this free market for digital art and collectibles has gobsmacked big celebrities and organizations in the world, including the famed auction houses. The humble, struggling artist on the streets of Kolkata or Mumbai, on the other hand, can now dream of making hundreds or…
Uncertainties around cryptocurrencies in India won’t be fading away anytime soon. Known as the Crypto Bill, the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, was not listed among the 23 bills in the tentative list of government legislative and financial business to be tabled during the Monsoon Session in the Lok Sabha of…
Famous investor Mark Cuban has bought the Indian startup Polygon, a solution built on Ethereum layer 2. Describing himself as a user of Polygon, Cuban did not disclose the amount of the deal. Polygon’s token MATIC has been rising exponentially since the start of the year. Polygon is popular for low gas fees. Among the…
From today onwards, crypto firms in India must report all cryptocurrency transactions to the Indian government. Effective from today, the new disclosure rule states that any company dealing in cryptocurrency will have to reveal their complete crypto holdings to the government. All this has to be disclosed as a part of their financial statements. A…
Just like the two sides of the same coin, cryptocurrency has its advantages and disadvantages. The debate on its usage or ban could be endless. So, in case you are also in doubt about whether to use or not to use bitcoin or Ethereum, this article will help you out. Firstly, as an investment, it…
While appealing to the Government of India not to ban cryptocurrency, the Internet and Mobile Association of India (IAMAI) has made a good case for regulating digital money. The Association has said that the suggested move will have several adverse effects. It will hit around 10 million Indian crypto customers and ultimately lead to a…