Crypto Exchange Financial News

Bitcoin is moving towards the $45,000 mark after a sharp rise on Tuesday. The largest cryptocurrency in terms of market capitalisation is among the second best performers among the digital tokens, rising as much as 17 per cent in the last one week. Only Terra (LUNA) is ahead of Bitcoin, rallying over 70 per cent. The total marketcap of Bitcoin is inching towards the $900 billion mark. However, the volumes of crypto assets have dropped more than 12 per cent as Bitcoins worth $33.5 billion exchanged hands in the last 24 hours, the data suggest.

CryptoWire and Bitbns exchange have entered into an agreement for listing IC15, India's first global crypto index. The index was launched by CryptoWire on January 3, 2022. CryptoWire claims to be a global crypto super app, whereas Bitbns is a homegrown crypto exchange. However, trading of IC15 on Bitbns exchange will begin from April 1, 2022, the new financial year. With the commencement of trading on IC15, market participants, individuals and institutions, get the advantage of spreading their risks by taking a view on the entire market versus concentrated risk on a single currency, according to a release.

Ukraine, fundraising via crypto assets has emerged as a key route to show support for those who are in dire need of help. After posting appeals on social media for donations of bitcoin and other digital tokens, Ukraine's government has raised almost $8 million in cryptocurrencies. Ukraine's official Twitter account made the appeal for cryptocurrency donations on Saturday following the country's invasion by Russia, posting digital wallets addresses for tokens including bitcoin and ether.

WazirX, a homegrown cryptocurrency exchange, said it will be releasing tools for entrepreneurs to build their own cryptocurrency exchanges under its program BUIDL With WazirX. The announcement comes after the government has given some sort of legitimacy to cryptocurrencies after levying a tax on them. Though, the Finance Ministry has categorically denied that the move makes them legal in India. “WazirX aims to take the ecosystem to the next level by helping aspiring crypto entrepreneurs navigate the landscape. The platform will provide various tools and capabilities to entrepreneurs by releasing its APIs, thereby giving them access to over 300 trading pairs,” the company said.

Sam Bankman-Fried is the co-founder and CEO of cryptocurrency exchange platform FTX

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.

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After the massive tax evasion by WazirX, one of the largest cryptocurrency exchanges in India, came to the fore, the Directorate General of GST Intelligence (DGGI) cracked down on crypto exchanges across the country, news agency ANI reported quoting sources.

cryptocurrency exchange Binance over violations found during liability inspections, the Anadolu news agency said on Saturday. The fine imposed on BN Teknoloji was the first of its kind after the authority took on responsibilities to oversee crypto asset service providers in May, the state-owned news agency said, without elaborating on the violations or inspections.

Binance Holdings Ltd., the operator of one of the world’s largest crypto exchanges, is in talks with PT Bank Central Asia (BCA), and state-owned PT Telkom to set up a cryptocurrency trading exchange, according to a Bloomberg report.

Nirmala Sitharaman said that regulating cryptocurrency requires collective effort as the technology is constantly evolving and changing. “The regulation both executive and legislative only doing catching up with technology.

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