Page 55 - Cryptocurrency

Cryptoverse: Buoyant Bitcoin helps market cruise past $2 trn

At Monday's high of $47,765, market leader Bitcoin broke above the narrow $34,000-$44,000 range it's traded in for most of 2022

Bitcoin holds ground after touching its highest this year amid Ukraine war

Bitcoin held ground just below its highest this year, touched a day earlier, with gains for the original cryptocurrency topping 27% since Russia's invasion of Ukraine

Cryptoverse: Buoyant bitcoin helps market cruise past $2 trillion

As a bleak first quarter draws to a close, crypto seems to have the wind in its sails. It has pushed through the $2 trillion barrier and is proving surprisingly resilient amid global chaos

11 crypto exchanges found to be evading Rs 81.54 cr in GST, says govt

WazirX, Coin DCX and CoinSwitch Kuber among companies under investigation, Parliament is told

Japan to revise forex law to end crypto loophole for sanctions on Russia

Japan will revise its foreign exchange law to prevent Russia from evading Western financial sanctions following Moscow's invasion of Ukraine through cryptocurrency assets, government officials said

Cryptocurrency aid for Ukraine: Innovation or just a sideshow?

Since Feb 26, when Ukrainian officials began tweeting calls for cryptocurrency donations, the Ukrainian government says it has taken in more than $60 million of its $200 million goal as of Wednesday

Top headlines: RBI reviews payment firms; US recovery helps India exports

The RBI has decided to review the business models of payment aggregators in view of a spate of frauds hitting customers.

Top headlines: Govt to seek crypto transactions log; Covid haunts economy

The tax authorities may tell banks crypto exchanges to report on virtual digital assets' transactions as India is starting is to tax gains from crypto

Centre may seek crypto log on transactions from banks, exchanges

Sale and purchase of digital assets will reflect in the AIS

Amitabh Bachchan pays up after DGGI evasion notice on NFT sale

Bachchan had entered into an agreement with Rhiti Entertainment Pte. Ltd, Singapore, for conversion of his content into NFTs by way of an auction.

Cryptoverse: Bitcoin not anonymous enough for growing cohort of users

A volatile class of crypto known as privacy coins has quietly been gaining ground this month as maturing bitcoin inches towards mainstream finance

Crypto industry miffed by govt's position on barring tax deductions

Losses from one kind of VDA like cryptos and NFTs can't be set off against gains from another. Infra cost in mining such assets won't be allowed to be used for availing any deductions

Crypto mining cost not to be allowed as deduction under I-T Act: FinMin

The minister said while computing the income from transfer of VDA, no deduction in respect of any expenditure (other than the cost of acquisition) or allowance is allowed

Govt working to classify cryptocurrency under GST law, 'remove doubt'

The government is working on classification of cryptocurrency as goods or services under the GST law, so that tax can be levied on the entire value of transactions

Australian watchdog sues Facebook-owner Meta over scam advertisements

Australia's competition watchdog filed a lawsuit against Meta on Friday, alleging the social media giant failed to prevent scammers using its platform to promote fake ads featuring well-known people

No plans to introduce cryptocurrency, Centre says in Rajya Sabha

RBI is currently working towards a phased implementation strategy for introduction of CBDC

ED investigating 7 cases of cryptocurrency usage in money laundering

The Enforcement Directorate is investigating 7 cases in which cryptocurrency has been used for money laundering and has so far attached proceeds of crime worth Rs 135 crore, Parliament was informed

Indian-American among 2 indicted in US for role in crypto money laundering

Two persons, including an Indian-American, have been indicted by a US court for their roles in a cryptocurrency money laundering scheme, the Department of Justice said. Lois Boyd, and Manik Mehtani -- both from Virginia -- face up to 20 years in federal prison. According to the indictment, Boyd and Mehtani are alleged to have conspired with others to receive victim money derived from a variety of fraud schemes and launder the proceeds through cryptocurrency. They allegedly have routinely structured deposits to avoid transaction reporting requirements and to conceal the nature and source of the criminal proceeds, the Department of Justice said. They allegedly exchanged the criminal proceeds for cryptocurrency and directed the cryptocurrency to wallets under the control of their foreign co-conspirators, it said. In August 2020, Boyd and Mehtani travelled to Longview, Texas, where they attempted to exchange more than USD 4,50,000 for Bitcoin. They were temporarily detained and the mo

Crypto brain drain is 'crazy' in India, says Polygon co-founder Nailwal

India's dithering on whether to embrace digital assets is causing thousands of developers, investors and entrepreneurs to leave for places with more friendly regulation, said Polygon co-founder

Bitcoin drops below $40,000 as Biden-inspired optimism fades

Most of the top cryptocurrencies were down at least slightly in the 24 hours to 4:15 p.m. Hong Kong time