Page 5 - Cryptocurrency

CoinDCX joins list of the biggest crypto breaches in recent times

In 2024, around $2.2 billion worth of cryptocurrencies were stolen. This followed losses of $1.7 billion in 2023 and $3.8 billion in 2022

Decoded: What are stablecoins, and why is the US regulating them?

Stablecoins are digital assets that are designed to maintain a stable value relative to a specific reference asset, like a fiat currency such as the US dollar

CoinDCX offers up to 25% recovery bounty after $44.2 mn crypto theft

CoinDCX offers up to 25% bounty after $44.2 mn theft. Firm seeks white-hat help in crypto recovery, amid rising cyberattacks on Indian exchanges

US legal backing for Stablecoin starts regulatory debate in India

Supporters say crypto can be used for purposes as varied as managing government subsidies and trade settlements

CoinDCX hit by major cyberattack, $44 mn drained: All you need to know

The incident came around the heals of the first anniversary of a security breach at WazirX, another cryptocurrency exchange which reported theft of approximately $230-235 million in July 2024

Trump signs first US law on stablecoins, hails it a 'financial revolution'

US President Donald Trump has signed the first federal stablecoin law, calling it a major leap for US crypto leadership; measure sets strict rules for dollar backing and boosts dollar's global reserve

President Donald Trump will sign new cryptocurrency bill into law on Friday

President Donald Trump on Friday will sign into law a new set of regulations for a type of cryptocurrency that are seen as a way to legitimise the burgeoning industry. The GENIUS Act sets initial guardrails and consumer protections for stablecoins, a type of cryptocurrency that is tied to a stable asset like the US dollar to reduce price volatility. It passed both the House and Senate with wide bipartisan margins. The measure is meant to bolster consumer confidence in the rapidly growing crypto sector. Its passage comes as Trump makes it a mission to make the U.S. the crypto capital of the world. Congratulations to our GREAT REPUBLICANS for being able to accomplish so much, a record, in so short a period of time," Trump wrote on his social media site Friday morning as he announced the bill signing. The House also passed two other bills Thursday that are meant to boost the legitimacy of the crypto industry. One creates a new market structure for cryptocurrency, and the other bans th

Bitcoin hits record high as US lawmakers push for pro-crypto legislation

Bitcoin continued its rapid climb and hit another all-time high Monday as US lawmakers begin a week focused on passing pro-crypto legislation. Data from CoinMarketCap showed bitcoin climbed above USD 123,000 early Monday, up from about USD 108,000 only a week ago. The world's oldest and most popular cryptocurrency is currently the fifth most valuable asset class in the world at USD 2.4 trillion, giving it a higher market cap than Amazon. The enthusiasm for bitcoin comes as the US House is set to take up several pieces of cryptocurrency-related legislation in what's been dubbed crypto week in Congress. Lawmakers have been under pressure from President Donald Trump and the big-spending crypto lobby to pass legislation quickly. That includes a bill passed last month by the Senate that would regulate a type of cryptocurrency known as stablecoins. The House is also set to take up a cryptocurrency market structure legislation that is far more sweeping. Trump, once a sceptic of the indus

Bitcoin rally triggers $1.2 billion liquidations, bears hit hardest in 2025

The largest single Bitcoin liquidation, valued at $88.5 million, was on the exchange HTX. Overall, about $1.29 billion in positions were wiped out across all tokens, the most this year

Bitcoin tops $108k before pullback amid options expiry; altcoins retreat

Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, briefly surpassed the $2,500 level but failed to hold gains

Got crypto gains or gifts? Here's why the taxman could soon come calling

'Every crypto move is taxable,' warn experts, as AI-powered tax tools tighten the net on undeclared gains, swaps, gifts, and even crypto spent on shopping.

GENIUS Act & Stablecoins: A turning point for crypto? | Cryptocurrency | US market | US Dollar

The US Senate on june 18, passed the GENIUS Act, a landmark bill that aims to regulate stablecoins, the type of cryptocurrency that’s pegged to the US dollar.

Hackers say they wiped out $90 million from Iran cryptocurrency exchange

Hackers with possible links to Israel have drained more than USD 90 million from Nobitex, Iran's largest cryptocurrency exchange, according to blockchain analytics firms. The group that claimed responsibility for the hack leaked on Thursday what it said was the company's full source code. ASSETS LEFT IN NOBITEX ARE NOW ENTIRELY OUT IN THE OPEN, the group wrote on its Telegram account. The stolen funds were transferred to addresses bearing messages that criticised Iran's Revolutionary Guard, Blockchain analytics firm Elliptic wrote in a blog post. It said the attack likely was not financially motivated as the wallets the hackers had poured the money into effectively burned the funds in order to send Nobitex a political message. The hackers group, Gonjeshke Darande Predatory Sparrow in Farsi accused Nobitex of having helped Iran's government to evade Western sanctions over the country's rapidly advancing nuclear programme and transfer money to militants, in a post on X claiming the

Pak Army chief's lunch with Trump at White House: What was discussed?

Crypto talks, trade and a rare military handshake-Trump's unexpected White House lunch with Pakistan's army chief signals more than diplomacy

Undisclosed crypto income: Respond to taxman's notice, file revised return

Underreporting or misreporting crypto income can lead to penalties ranging from 50 to 200%, even imprisonment of up to seven years

Crypto market pauses as BTC dips below $105,500 ahead of US Fed decision

Analysts believe that the regulatory developments such as the GENIUS Act and Thailand's recent five-year tax exemption policy are shaping a new global crypto landscape

Crypto traders beware: Tax notices are rolling out over undisclosed gains

Crypto profits are no longer invisible to tax authorities. The government has built a strong data trail with crypto exchanges and is cross-verifying transactions in real time.

Trump's 2024 income tops $600 mn, driven by crypto, resorts, brand deals

US President Donald Trump's 2024 financial disclosure reveals massive earnings from crypto ventures, golf resorts, and overseas licensing deals, even as multimillion-dollar legal debts loom

Unaccounted income invested in Virtual Digital Assets on CBDT radar

The Central Board Direct Taxes (CBDT) is investigating tax evasion and laundering of unaccounted income by high-risk persons through investment in crypto currency. Such entities and individuals which are engaged in Virtual Digital Asset (VDA) transactions and have failed to comply with the Income-tax Act, 1961 have been identified for verification, sources said. As per the Section 115BBH of Income Tax Act, 1961 inserted by the Finance Act, 2022 a flat tax rate of 30 per cent (plus applicable surcharge and cess) on income from VDA transfer is applicable. The provision does not allow deduction of any expenses except cost of acquisition. Further, set-off of loss from VDA investment or trading is not allowed to be set off against any other income or for carry forward to subsequent years. Sources pointed out that data analytics has shown that a significant number of persons have violated provisions of Income Tax Act by not filing Schedule VDA of ITR and offering tax on the income earned

CBDT sends emails over undisclosed crypto income in latest NUDGE drive

CBDT emails thousands of taxpayers urging them to review and update ITRs for under-reported crypto income as part of a NUDGE campaign targeting VDA discrepancies