Crypto Investors Financial News

Delhi continued to assert its dominance in India's cryptocurrency adoption landscape, maintaining its lead in terms of the value invested. This was followed by the IT hubs Bangalore and Hyderabad. Recent data from CoinSwitch report reveals that Delhi boasts the highest percentage of cryptocurrency investors in the country. However, the phenomenon extends beyond Delhi's borders, with other cities like Hyderabad, Pune, and Jaipur also witnessing a surge in crypto adoption.

The crash immediately wiped out tens of thousands of dollars from his savings.

Budget 2025 has kept the existing tax rules on virtual digital assets (VDAs) unchanged, despite repeated calls from the cryptocurrency industry for reforms. Finance Minister Nirmala Sitharaman did not announce any revisions to the 1% TDS (tax deducted at source) on crypto transactions or the restriction on offsetting losses. Industry experts believe these policies continue to be a hurdle for investors and traders.

Solana's (SOL) impressive performance, Anush Jafer, a Mudrex Research Expert, shared his perspective on the ETMarkets live stream, weighing in on the potential shift in the crypto hierarchy. With SOL now posing a serious challenge to Ethereum (ETH), Jafer discussed the strategic moves investors should consider. Jafer began by acknowledging the buzz around Solana’s recent surge, surpassing Ethereum in certain metrics, particularly in terms of transaction speed and cost efficiency. «Solana has made significant strides, particularly with its scalability and low transaction fees, which are attracting a lot of developers and users,» Jafer noted. This development, he explained, has prompted many to question whether SOL is poised to challenge ETH's dominance in the long run.

As the popularity of cryptocurrencies continues to grow, investors are on the lookout for the most accommodating environments to maximize their returns.

Venture capitalists are warming up to funding blockchain and crypto projects, ready to fuel the next wave of innovations.

A February 8 study from the Hanken School of Economics in Helsinki, Finland, has unveiled that a trustworthy appearance could boost investor funding in crypto initial coin offerings (ICOs) by an impressive 95%.

The Canadian Securities Administration (CSA), the country’s securities watchdog, has proposed new regulatory requirements for public investment funds that looks to invest in crypto assets.

Gaurav Dahake, CEO, BitBNS, says “you can buy it from any exchange in India by depositing your INR and buying those tokens. You can also take the LRS or Liberalised Remittance Scheme route, where you can send up to $250,000 in a year and buy assets, which is where you can send this money to a Indian brokerage account, which would credit that money into your US brokerage account and then you can take an exposure to the ETF. Certain apps facilitate that. " What happened in the US crypto market and how did the SEC approve the ETF? Overall how many crypto ETFs are we talking about now? Gaurav Dahake: This approval came about on January 10, 2024.

virtual digital assets (VDAs). One of the most popular uses of VDAs is for investments and trading which was boosted by the rapid appreciation in their value experienced in 2021. Various surveys indicate that VDAs have been more intensively adopted in emerging market economies than in advanced economies.

crypto investors will be filing their taxes on gains and claiming TDS refunds, where applicable. The process will give regulators greater visibility into the fast-growing Indian crypto market, and help establish trust and transparency in the ecosystem. For a taxpayer, there are new schedules to be filled.

Since the collapse of world’s third largest crypto exchange FTX in November -- on account of wrongly reported assets which were in its own tokens -- crypto investors closer home have been demanding their exchanges to release ‘proof of reserves’ or PoR. The PoR is basically a method to disclose an institution like an exchange’s assets to quantify if they hold sufficient resources to back customer balances.

After delivering multi-fold returns over the past few years, the cryptocurrency market is in a prolonged bear cycle, one that has prompted many long-term investors to question whether it is possible to generate returns from these digital assets while holding onto their positions.

As prices plunge, companies collapse and skepticism soars, fortunes and jobs are disappearing overnight, and investors' feverish speculation has been replaced by icy calculation, in what industry leaders are referring to as a "crypto winter." It's a dizzying turn of events for investments and companies that at the start of 2022 seemed to be at their financial and cultural apex. Crypto-evangelizing companies ran commercials during the Super Bowl and spent heavily to sponsor sports arenas and baseball teams. The industry's combined assets back then were estimated to be worth more than $3 trillion; today, they are worth less than a third of that. Maybe.

Mumbai: Indian crypto investors continued to be under stress, anticipating that the worst may not be over for the crypto market, which recorded one of the worst crashes in the history of digital assets in the past week and wiped off a few hundred crores from the Indian crypto market. The world’s most popular digital currency, Bitcoin, broke the important $20,000 support level and even touched $18,000 on Saturday, its lowest level since December 2020. After reaching an all-time high of $68,789.63 in November 2021, Bitcoin has lost more than 70% of its value.

Cryptocurrency assets are highly speculative and investors in them need more protections or they could lose trust in the markets, Gary Gensler, chair of the U.S. Securities and Exchange Commission, said on Monday. Generally, people who buy cryptocurrencies do not get the disclosures they get when they make other asset purchases around things like whether the trading platform they are using is actually trading against them, or whether they actually own the assets they store in digital wallets, Gensler said. «We have this basic bargain: You the investing public can make your choices about the risk you take, but there is supposed to be full and fair disclosure, and people are not supposed to lie to you,» he said at the Financial Industry Regulatory Authority's annual conference in Washington.

crypto investors took another dive triggered by the crash of a popular stable coin, TerraUSD, or UST, in the last 48 hours in a market already roiled by rising interest rates, inflation, and Russia’s war on Ukraine. The algorithmic stable coin is supposed to maintain a one-to-one peg against the US dollar but slumped nearly to $.26 to the dollar on Wednesday night after the complex mechanisms that were supposed to hold the dollar peg failed leading to the UST crash. And as a result Luna, Terra’s sister token which powers the Terra blockchain, dropped below $0.30 on Thursday from $80 in a matter of 3 days.

Your gain is my gain, but your loss is not my loss: This is perhaps the feeling among many Indian crypto investors about the government's stand on taxing crypto gains at 30%, the highest slab, but not allowing losses to be offset against other income. If you had invested Rs 1 lakh in Bitcoin a year ago and sold it now, you would get back just about Rs 56,000 as the token's price has fallen. However, this 44% loss will not be adjustable against other income while filing taxes. As a result of this double whammy, many investors have started to explore ways to minimise the tax impact. «Crypto investors don't seem to be happy with the 30% tax. Many say it may have dampened the excitement around Indian crypto investments,» said Vihang Virkar, partner at Lumiere Law Partners. The tax has forced most investors and startups to take a relook at their strategies. Many backers are looking to hold their assets for the long term and have stopped daily trading. This trend, in turn, has hurt crypto exchanges' volumes and revenue. Presented ByDid you Know?Apparel maker G

crypto investors in India and the world, 2021 was a breakout year as this new-age asset class evolved into a global phenomenon, revealed a report titled 'The Global State of Crypto Report 2022' by Gemini Crypto Exchange. According to a report by Gemini, New York-based global cryptocurrency exchange, the trend is likely to continue. For the purpose of this study, the exchange examined more than 30,000 adults across 20 countries, including India. The survey was conducted online between November 23, 2021, and February 4, 2022, with participation from adults up to the age of 75. The study was conducted on behalf of Gemini by Data Driven Consulting Group.

The order from one of the most powerful countries comes at a time when the number of Crypto users and platforms like CoinSwitch is growing at an exponential rate in India. So it is important for all of us to make sense of the order.Key Takeaways of the Executive Order

There are already many other cryptos that are eco-friendly, though, so environmentally aware investors can take heart. Popular Crypto exchange platforms such as CoinSwitch make buying such coins easy, so all you have to do now is to begin to look for them.Why many cryptos are not eco-friendlyAccording to the Digiconomist’s Bitcoin Energy Consumption Index, mining bitcoins consumes more energy per year than countries like Malaysia or Sweden, with a single Bitcoin transaction requiring 1,544 kWh. And Bitcoin has a total of 21 million coins, 90% of which are already in circulation. So, if a single digital currency can consume so much energy, just imagine how much the crypto sector consumes in a year!