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Capital Union, a Bahamas-based bank that reportedly holds a portion of reserves by the Tether (USDT) stablecoin issuer, has been itself actively involved in the cryptocurrency industry.

Virtual assets are not akin to gambling or lottery: Crypto Firm Director

The GST Council is considering levying 28 percent tax on cryptocurrencies and related services, sources told CNBC-TV18. The proposal is likely to be tabled in the next GST Council meeting.

Solana and XRP dropped 2 per cent each, followed by a per cent drop in Shiba Inu and Avalanche. The global cryptocurrency market cap was trading almost flat at $1.92 trillion mark, with marginal gains in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 13 per cent to $90.79 billion.What's cooking in India?Union Finance Minister Nirmala Sitharaman pitched for a global framework to regulate crytpo tokens, particularly their use in money laundering and terror financing.

Amazon.com Inc. plans to appeal its loss last week to union organizers in New York, where workers voted to establish the company’s first U.S. union.

Barring the US dollar-pegged stablecoin, USD Coin, all other major crypto were up during early hours. Solana and Avalanche rallied 7 per cent each, whereas Dogecoin and BNB advanced 4 per cent each. The global cryptocurrency market cap dwindled to $2.02 trillion mark, advancing more than 2 per cent in the last 24 hours. However, total cryptocurrency trading volume dropped sharply as much as 32 per cent to $82.83 billion.

The new tax regime of cryptocurrency will fall under section 285BA and sub section (k) of IT Act.

MakeMyTrip Launches NFTs To Reimagine Indian Tourism

The European Union could spell the end of Bitcoin mining when the bloc's parliamentarians head to a vote on Monday.

The European Union could see a major change in the cryptocurrency industry as proof-of-work (PoW) cryptocurrencies face an indeterminate future.

The crypto exchange giant Binance has joined the Association of Russian Banks (ARB), where its Russia and CIS (Commonwealth of Independent States) lead will head a new crypto department.

European banks and financial institutions have pledged €30 billion in investment for countries in sub-Saharan Africa on the eve of the European Union-African Union summit in Brussels.

In a reply to a query from Chhaya Verma, a Rajya Sabha member from Chhattisgarh, she clarified that if there is a gain from crypto transactions, the government has the right to tax them, but does not necessarily make them legal or illegal. Banning or not banning crypto assets will depend on the inputs given by consultants, Sitharaman said in the upper house of Parliament.

Cryptocurrency is a threat to India’s macroeconomic stability and investors betting on it are doing it at their own risk, RBI Governor Shaktikanta Das said on February 10 in perhaps his starkest warning on crypto that is gaining popularity in the country.

tax virtual digital assets at 30% in the Union Budget has encouraged the crypto industry players to come out with financial products on the asset. Crypto exchange CoinSwitch on Monday launched a recurring buy plan (RBP) (RBP) — a systematic investment plan (SIP) to buy crypto assets in India. Users can sign up through a waitlist to get early access to explore this new feature, the company said. With this, the startup wants users to beat market volatility and avoid making impulsive buying or selling decisions. Ashish Singhal, founder and CEO of CoinSwitch, said that the plan is for people who take a more systematic and long-term approach to buying crypto assets and is not really meant as a product for traders. “We are still reading the Budget fine print. Our initial understanding is that the 1% TDS will usually impact frequent traders who operate on smaller margins,” he said.“The plan will allow long-term investors to invest systematically and avoid the impulse to time the market and make emotional trading decisions, and will also empower users with a lower risk profile to explore this new asset class,” he added. Tax experts TOI spoke to said that though the Budget is silent on products such as crypto RBPs, the taxation will likely be along the same lines as SIPs, which are taxed on withdrawal.

crypto assets in the Union Budget has boosted the morale of the crypto industry, particularly the new players or startups. In the light of recent developments at home and across the globe, there are voices that India is poised to emerge as a global hub for crypto players and enterprises. Market participants believe that cryptos can be viewed as an emerging asset because it is an intangible, digital currency that uses a highly sophisticated type of encryption to secure and verify transactions.

Central Bank Digital Currency (CBDC) in the Union Budget 2022 by Finance Minister Nirmala Sitharaman, Prime Minister Narendra Modi on Wednesday threw more light on the topic in his address to the nation. PM Modi said that the digital currency will boost the digital economy in the year to come, adding that the RBI-backed CBDC will be controlled and monitored by the central bank and will be a digital avatar of India's fiat currency. India's move to launch CBDC is in tandem with other global peers, who are planning similar moves soon.

crypto exchanges and trading platforms cheered the announcements made by Finance Minister Nirmala Sitharaman over the taxation of virtual assets in Union Budget 2022. The Finance Minister announced taxation on gains arising from the sale of virtual assets at a flat rate of 30 per cent in her Budget speech, without any deductions to be allowed on these gains. The government also laid out the detailed provision over tax deducted at source (TDS) at a rate of 1 per cent levied on payments made on transfer of digital assets. Ashish Singhal, Founder and CEO, CoinSwitch and Co-chair Blockchain and Crypto Assets Council (BACC) said, we welcome the government's decision to introduce central bank digital currency (CBDC) to accelerate digitization.

Income tax rates will remain unchanged for fiscal year 2022-23, Finance Minister Nirmala Sitharaman announced in the Union Budget today in possibly her shortest Budget speech ever.

In a speech discussing the budget for 2022, Indian finance minister Nirmala Sitharaman announced the launch of a central bank digital currency (CBDC) by 2022-23 as means to boost the country’s economic growth. 

Cryptocurrencies traded in the green early on January 15. The global cryptocurrency market-cap stood at $2.05 trillion, a 0.53 percent increase over the last day. The total crypto market volume over the last 24 hours was $84.28 billion, which come to a 16.66 percent fall.