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

READ MORE

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

READ MORE

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

READ MORE

From crypto skeptic to believer: Ray Dalio prefers to buy Bitcoin over bonds

Hedge fund manager Ray Dalio believes Bitcoin is a better buy than government or corporate bonds. During a recent interview at CoinDesk’s Consensus 2021 conference, the co-chairman and co-CIO of Bridgewater Associates, described Bitcoin as a superior financial instrument for saving than bonds. “The more we create savings in [Bitcoin], the more you might say, ‘I’d rather have Bitcoin than the bond.’

READ MORE

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,

READ MORE

Hashdex Nasdaq Crypto Index Fund debuted at B3 exchange

Brazilian crypto-focused asset management firm Hashdex, in partnership with Nasdaq, began trading Brazil’s first ETF cryptoactive in the Latin American country on Monday (April 26) at the Sao Paulo stock exchange (B3). Hashdex Nasdaq Crypto Index Fund (HNCI),  the world’s first Bitcoin ETF, has the Nasdaq Crypto Index (NCI) as reference and its ticker symbol is HASH11. The HNCI ETF debuted with R$615

READ MORE

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

READ MORE