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…
Cryptocurrencies have grown substantially over the last decade. This growth has buzzed up a lot of different questions. One of them is about the difference between crypto coins and tokens. So, in this article, we will differentiate between both of them. What are crypto coins and tokens? A crypto coin is the electronic version of…
On Wednesday, the Wall Street Journal reported that Meta Platform Inc.’s digital currency project Diem Association is shutting down and selling its technology to California-based Silvergate Capital for about $200 million. Formerly Facebook Inc., Meta first unveiled plans for Diem, called Libra previously, in June 2019, as part of an effort to expand beyond social…
On Wednesday night, cryptos including Ethereum, Bitcoin, Solana, Cardano and Terra slipped steeply after the US Federal Reserve released minutes of its December meeting in which the Central Bank hinted it could begin increasing interest rates to handle challenging high inflation. On November 11, 2021, Bitcoin touched an all-time high of $68,749. It has outperformed…
Cryptos have been a hot topic lately. But there is a huge awareness gap about this space that requires to be bridged. The Crypto World Expo is expected to do that. It is a recurrent event for today’s crypto and blockchain community. Its 5th summit is going to take place in March 2022 in Poland,…
Super app CyrptoWire has introduced IC15, the first crypto index of India. On Monday, the firm said that IC15 will track the liquidity and market capitalization of the top 15 global digital currencies. It added that the IC15 is a rule-based broad market index by market capitalization that computes the performance of 15 extensively traded…
On Wednesday the official Xinhua news agency said that it will issue a digital media photo collection through NFTS (non-fungible tokens), a first for China and an upsurge for the blockchain technology that supports them and that Beijing has earlier criticized. Regarded as digitized ownership certificates, NFTs have earned fame across the globe this year,…
On Monday, the Dubai Media Office said that the Dubai World Trade Centre (DWTC) will become a crypto zone and regulator for other virtual assets and cryptos. It is a part of the efforts to lure new business as regional economic competition rises. According to the statement, DWTC’s stance to develop a specialized zone for…
According to reports, India’s hot topic crypto bill, which suggests strict regulations be imposed in the cryptocurrency sector, is not likely to be presented before the Parliament during the winter session after all. Citing sources, a few reports mention that the government is currently gathering information on how other countries are thinking about restricting cryptos….
According to sources, suggested legislation that would prohibit the use of cryptos as a mode of payment in India also anticipates making those who violate the law subject to arrest without a warrant and being held without bail. The government of PM Narendra Modi has earlier indicated that it proposes to prohibit most cryptos –…