Blockchain & crypto news from India
In a world-first, bitcoin becomes a legal tender in El Salvador on Tuesday. This is a real-world experiment that proponents say will reduce commission costs for billions of dollars sent home from foreign countries but which critics alerted may boost money laundering. The plan led by the charismatic, young and famous president Nayib Bukele is…
The postponement in the government establishing the regulation on crypto has given rise to intense lobbying, with agencies anxious over the risks emerging from an unregulated section with utmost price unpredictability, posing a threat to investors, the majority of who don’t understand the instrument. In addition to this, there are issues over the instrument being…
The tax department and buyers are in a dilemma over how to calculate profits on crypto for taxation purposes, especially since tax regulations lurch and there exist disagreement against specific laws and tax is computed on the value declared by the assessee. The big query that’s worrying all is how the profits from crypto assets…
A bug in the most famed software used to verify transactions on the Ethereum platform almost prompted a crisis for the most widely used crypto blockchain in the world. Almost half of the Ethereum network divided into a distinct chain after a flaw in the Geth or Go Ethereum, software affected users who hadn’t executed…
The stereotypical decentralized nature of crypto in contrast to the well-regulated stock exchange is a huge incentive for investors: they can operate free of regulatory rules that is the hallmark of stock exchanges. But how do crypto exchanges work? Here are some of the main features of crypto exchanges. A crypto exchange is simply a…
On Monday, PayPal Holdings Inc. said that it will enable customers in the UK (United Kingdom) to sell, purchase and hold bitcoin and other crypto starting this week. The move which represents the first international expansion of PayPal’s cryptos services outside of the US could further stimulate mainstream adoption of the new asset class. With…
There is a craze about crypto these days and as it is common, hackers and malicious apps are here to take advantage of the current crypto hype. These apps are made to delude innocent users into installing them on their mobile phones. Google has identified 8 such dangerous apps on the Play Store and removed…
Walmart is on the quest to hire a new senior director to develop new digital currency products possibly including crypto payments. The stance reflects a similar interest shown by Walmart’s known competitor Amazon, which intends to hire someone to head up crypto products. The new Walmart senior director position holder will act as the company’s…
On Wednesday, Poly Network, the firm at the center of the hack said that hackers have returned a chunk of the digital loot from a record haul. The company specializing in transferring crypto posted a tweet mentioning it had received about $4.8 million worth of the stolen asset back, expecting more from the online theft…
On Monday, the popular company Tesla announced that a $23 million bitcoin-related impairment brought about some pull on its quarterly operating income. The well-renowned firm only mentioned crypto or Bitcoin one time in its second-quarter announcement, after Elon Musk, CEO of the company seesawed on whether the firm would accept the digital currency for vehicle…