India plans to impose tax on cryptocurrency trades – report

The government  in India is planning to tax cryptocurrency exchanges and trades, The Economic Times reported on Monday (Sept.13), citing sources. The cabinet is likely to discuss the bill on the proposed regulation “soon,” according to the report. Chairman of India’s Parliamentary Standing Committee on Finance Jayant Sinha on Wednesday (Sept.8) stressed that the country will take a stance on cryptocurrencies like

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King of the Roma of Romania launches the world’s Gypsycoin

Daniel Cioaba,  aka “the king of Romanian Roma,” has launched Gypsycoin, a digital currency that aims to become a popular tool of payment for Roma individuals as well as Roma business-owners and not only. “Gypsycoin is based on the hidden potential of unity of a globally distributed community. Therefore, Gypsycoin has a great potential of users globally. At the same time, it

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Wall Street’s top regulator says cryptocurrency market is ‘Wild West’

US Securities and Exchange Commission (SEC) Chairman Gary Gensler said Tuesday (Aug. 3) that his agency needs needs more authority from Congress to regulate the fast-growing cryptocurrency market. “We need additional Congressional authorities to prevent transactions, products, and platforms from falling between regulatory cracks. We also need more resources to protect investors in this growing and volatile sector,” Gensler said in a

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El Salvador becomes first nation to adopt bitcoin for everyday use

El Salvador has become the first country in the world to classify Bitcoin as legal currency, after lawmakers in the Salvadoran Congress on Tuesday night (June 8) voted by a “supermajority” in favor of the Bitcoin Law, receiving 62 out of 84 of the legislature’s vote. The legislation will make the world’s most popular cryptocurrency recognized by law as a means to

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China bars financial sector from cryptocurrency business citing the dangers of speculative trading

China’s financial officials stated on Tuesday (May 18) they have banned the country’s financial sector from providing services related to cryptocurrency transactions in light of the market’s recent volatility. Additionally, internet platform companies are banned from providing marketing and publicity, among other services, to cryptocurrency related products. “Recently, crypto currency prices have skyrocketed and plummeted, and speculative trading of cryptocurrency has rebounded,

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Cryptocurrencies drop on Biden’s proposed tax hike

Digital assets suffered hefty losses on Friday (April 23), a drop attributed to U.S. President Joe Biden’s proposed tax hike for capital gains on the wealthiest Americans, with Bitcoin dropping below $US50,000 and most altcoins suffering double-digit losses. The tax hike news triggered a selloff on Wall Street on Thursday (April 22) where stocks and shares in technology companies all retreated. The proposal would increase the tax

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The world’s first crypto ETF to be traded on BSX

Hashdex will officially launch the world’s first crypto ETF (Exchange Traded Fund), the Brazilian asset manager announced on Feb.9. The fund, named the Hashdex Nasdaq Crypto Index ETF, is available for trading on the Bermuda Stock Exchange (BSX) for accredited non-US investors (non-tradable shares are available through private placement for Accredited US Investors and Non-US Investors). The product is a regulated and

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