Page 27 - Cryptocurrencies

Terra Luna cryptocurrency collapses 98%, investors lose life savings

The dramatic crash of Terra (Luna), ranked among the top 10 most valuable cryptocurrencies, has wreaked havoc in the lives of investors who are feared they will become homeless after the crypto mayhem.

Crypto billionaires' vast fortunes destroyed in weeks amid global sell-off

Billionaire crypto fortunes that swelled over the last two years are disappearing after a selloff that began with tech stocks spilled over into digital money

Collapsed stablecoin TerraUSD announces recovery plan, seeks outside funds

Stablecoins are digital tokens pegged to the value of traditional assets, such as the US dollar.

Mayhem in crypto market as Bitcoin dips below $30,000-mark, investors panic

The overall global cryptocurrency market dropped 13 per cent, and was hovering around $1.37 trillion market cap, which is its lowest this year

Bitcoin falls to 22-month low of $31,763 as stock markets tumble

Bitcoin dropped to as low as $32,763.16 shortly before 1100 GMT, in its fifth consecutive session of falling.

California moves to consider adoption and regulation of digital currencies

Gov. Gavin Newsom signed an executive order for state agencies to move in tandem with the federal government to craft regulations for digital currencies

Wikimedia Foundation discontinues accepting cryptocurrencies as donation

The WMF began accepting Bitcoin, Bitcoin Cash and Ethereum donations in 2014

Going green: How to ditch fossil fuels powering the bitcoin network

The amount of energy used by computers to solve the puzzles grows as more computers join the effort and puzzles are made more difficult

Regulating crypto assets, digital currency India's priorities: IMF official

Regulating crypto assets and digital currency, addressing remaining regulatory concerns in banking and integrating with the global economy are among the few mid-term structural issues for India

Coinbase halts UPI payments for crypto within three days of India launch

The company, however, declined to comment on the matter

FAQ on taxation of cryptocurrencies, virtual digital assets in works

The government is working on an FAQ on taxation of cryptocurrencies, which will give a nuanced clarification on the applicability of income tax and GST on virtual digital assets, an official said.

Britain plans to regulate some cryptocurrencies amid global effort

There are also plans to explore the idea of using crypto technology to issue UK government debt

Nearly half of crypto owners first bought digital assets in 2021: Study

Brazil and Indonesia lead the world in crypto adoption, with 41% of people surveyed in those countries reporting crypto ownership

What is going to change for income tax payers from today?

A set of changes related to income tax are coming into effect from the first day of the new financial year. One of the highlights is the 30% tax on cryptocurrency gains. What are the other changes?

30% tax on cryptocurrency income to come into effect from Friday

The revised norms for levy of 1 per cent TDS (tax deducted at source) on sale of immovable property exceeding Rs 50 lakh will come into effect from April 1, the beginning of the new financial year

UAE crypto push sees Bybit, Crypto.com announce Dubai offices

The UAE has been pushing to develop the virtual asset sector and regulation to attract new forms of business as regional economic competition heats up

Buzz on virtual assets: Crypto industry sees exits ahead of new tax regime

With new rules coming into force in April, several investors are booking profits, rejigging portfolios or moving their virtual assets outside of India

New crypto tax law discriminatory in treating different assets differently

Since 1956, all Indian governments have thought that economic discrimination is fine, but political or social discrimination is not

Govt should come out with legislation on crypto soon: Cong MP Gaurav Gogoi

The government is still sending mixed signals on virtual digital assets and there should be clarity on the definition of crypto, he said while initiating a debate on the Finance Bill in Lok Sabha

FinMin proposes changes to Finance Bill for crypto assets' taxation

FM Sitharaman is expected to move an amendment clarifying that no tax deduction or set off would be available in place of mining cost of crypto assets and other VDAs or losses from their transfer