Blockchain & crypto news from India
The government is planning to roll out the Finance Bill which will regulate all virtual assets including cryptocurrencies. They are developing an FAQ on the taxation of the same. As per a recent report, these FAQs will provide users a proper clarification in a distinctive way on the applicability of income tax and GST on…
Ethereum, the primary blockchain backing Ether, is declaring a grand update, aiming to decrease the enormous energy consumed in Ether mining by 99.95 percent. In addition, the company announced a move to Proof-of-Stake (PoS) mechanism away from the existing Proof-of-work (PoW). For the uninformed, Blockchain is a virtual circulated database that records every transaction, making…
Ukraine began auctioning off a collection of non-fungible tokens (NFTs) on March 25, expanding a cryptocurrency fundraising push that Kyiv expresses has already organized more than $65 million for its war efforts. The ‘Meta History: Museum of War’ is a series of virtual photos – including silhouettes of warplanes, screengrabs of news, and a cartoon-style…
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…
Since the legal status of cryptocurrencies was on the grey side for so long, but finally, the Indian government came up with a solution to regulate cryptocurrencies and NFTs. India taxes crypto In the union budget 2022-2023, the Indian government covers cryptocurrency and NFTs under the “Virtual Digital Assets” umbrella. The government solved the tax-related…
On Tuesday morning, Finance Minister Nirmala Sitharaman confirmed that RBI (Reserve Bank of India) will launch a digital rupee soon. The digital currency by RBI will be based on blockchain technology the tech behind Bitcoin and other famous cryptocurrencies. FM said that the digital rupee will be issued by 2022-23 without offering any clarity on…
Today, SEC or the U.S Securities and Exchange Commission declared the title of the upcoming cryptocurrency panel for its December 2 Investor Advisory Meeting. The title will be ‘Helping to Ensure Investor Protection and Market Integrity in the Face of New Technologies’. Earlier, on Nov.15, the Commission declared the meeting would be open to the…
At a time when the Reserve Bank of India (RBI) glares at private digital currencies, the suggestion of crypto bank Cashaa to introduce banking operations in India for customers of digital currencies like Bitcoin from next month, through the credit co-operative society route, is interesting to note. Cashaa said that it has introduced the world’s…
Trading on crypto exchanges based out of India may get more expensive as the country’s regulator pondering over a 2% equalization tax on crypto dealings. The new equalization tax – a levy that the nation charge on foreign companies – would apply to other cryptocurrencies and Bitcoin purchased off exchanges that are based out of…
After EI Salvador’s remarkable stand to adopt Bitcoin as a legal tender, things are appearing brighter back home in India for crypto-lovers. Top sources monitoring the industry informed that the government has a change of mind from its previous hostile attitude towards digital currencies. It will most probably consider Bitcoin as an asset class in…