Blockchain & crypto news from India
Opera is preparing to establish a new in-browser crypto wallet support for eight new blockchains in an efficient rollout across its apps and web browsers. Blockchains like Polygon, StarkEx, Ronin, Celo, Nervos, IXO, and Bitcoin will come along with Ethereum. In addition, Opera’s desktop crypto browser can now access Polygon and will shortly plug into the rest….
The Centre is working on the categorization of crypto under the GST law so that tax can be imposed on the complete value of the transaction. As of now, 18% Goods and Services Tax (GST) is imposed just on services offered by the crypto exchanges and is classified as financial services. GST officers said that…
India has tensed cryptocurrency rules by disallowing losses incurred in a particular digital asset to be set off compared to the income from another version of a crypto holding. As per the views of Pankaj Chaudhary to lawmakers in parliament, the government should not allow tax breaks on infrastructure costs incurred while mining crypto assets…
The income tax department of India has reportedly targeted around 700 crypto investors who have failed to pay taxes on high-value crypto transactions. According to an official with the nation’s Central Board of Direct Taxation, they have a long list of people who were dealing in crypto assets but weren’t paying tax. The list includes…
The government of Ukraine declared that it cancelled its plan of crypto airdrop for receiving donations towards its war against last week Russian invasion. The authorities have instead said that they will sell non-fungible tokens (NFTs) to generate funds to foster its armed forces. Ukraine’s Vice Prime Minister, Mykhailo Fedorov informed the citizens that the…
President Joe Biden is anticipating signing an executive order on crypto this week that will mark the initial step towards regulating how digital currency is traded. The stance comes as admin officials have raised issues in recent weeks about Russia’s use of crypto to escape the impact of crushing sanctions in response to its invasion…
Manchester City is expanding on the crypto hype. On Friday, the ruling Premier League championships declared a multi-year agreement naming OKX its official crypto exchange partner. The deal, which is OKX’s first foray into the sports space, will include Manchester City’s women’s and men’s teams and its esports operations. It will cover a presence inside…
When the US prohibited its citizens from conducting business with Russian banks, gas and oil developers, and other firms in 2014, after the nation invaded Crimea, the hit to Russia’s economy was immense and swift. Economists calculated that sanctions imposed by Western nations cost Russia around $50 billion per year. Since that day, the global…
According to the administration official aware of the issue, the US administration is about to issue an executive order on crypto this week. On February 18, Yahoo Finance reported that the executive order will direct a wide range of government agencies to study CBDC and crypto and come up with a government-wide strategy to regulate…
On Thursday, Ukraine legalized cryptocurrencies even as its tensions with Russia have disturbed markets globally in the previous week because of global concerns over the prospect of a wider war with over 100,000 Russian troops near the Ukrainian frontier. In a Tweet, the Ukraine Vice Prime Minister Mykhailo Fedorov said that the country is already…