Cryptocurrency Financial News

02.02 / 11:39

cryptocurrency CBDC Digital Currency Budget Cryptic no more: Cryptocurrencies, CBDC may get to coexist

Budget has for the time being treated cryptos as ‘digital assets’ by proposing to tax the gains from crypto trading — though at a stiff rate of 30%, like lottery prize money. The central bank digital currency (CBDC) — the digital form of the fiat currency bills in your wallets — can quicken transactions and dramatically transform payments with instantaneous settlement. It would be faster and cheaper than other modes of payment like RTGS, IMPS or UPI. Cryptos, however, will not be treated as currency but may survive as assets. Not only would crypto profits be taxed at double the rate than short-term stock gains, 1% would be deducted as tax at source from the proceeds of sale of cryptocurrency.

02.02 / 06:59

cryptocurrency Bitcoin 8 arrested in Pune for kidnapping man to extort Bitcoin worth Rs. 300 crore

Eight people, including a police constable, were arrested in Pune on Tuesday for allegedly kidnapping a man and trying to extort Bitcoins worth Rs. 300 crores from him.

02.02 / 06:25

cryptocurrency NFT crypto tax Bitcoin Cryptocurrency Prices Today: Bitcoin, Ethereum trade in green; Budget brings crypto in 30% tax ambit

The global cryptocurrency market capitalisation dipped 5.66 percent over the last 24 hours to $1.65 trillion, while the trading volumes were up 29.45 percent to $82.63 billion.

02.02 / 05:13

cryptocurrency Investors Budget 2022 Income Tax Income tax on cryptocurrency introduced: Investors may see a sell off in the coming weeks

income tax on digital assets, that would include cryptocurrencies and Non-Fungible Tokens (NFTs), this is set to spark a sell off from Indian investors, say industry trackers. The finance minister on Tuesday introduced a 30% income tax on returns from digital currencies. This would mean that investors will have to cough up 30% tax on the returns they make from trading or investing in cryptocurrencies. Experts say that the 30% tax would also not be allowed to be set off against any other losses or expenses. This is only going to increase the tax burden for cryptocurrency investors, who will have to shell out a third of their returns towards taxes.

01.02 / 17:29

Ethereum cryptocurrency Investing Bitcoin Bitcoin Is 'Fundamentally Different' From Other Cryptos, Unlikely To Be Replaced - Fidelity

Bitcoin (BTC) is fundamentally different from any other digital asset and no other digital asset is likely to improve upon bitcoin as a monetary good, according to digital asset-focused financial services provider Fidelity Digital Assets.

01.02 / 17:19

cryptocurrency Digital Currency Budget 2022 Budget 2022 | Here’s what Finance Minister Nirmala Sitharaman said about taxing cryptocurrencies

Finance Minister Nirmala Sitharaman, while presenting the 2022-23 Union Budget on February 1, announced a 30 percent tax on income generated from the transfer of any digital asset.

01.02 / 15:59

cryptocurrency Provident Digital Budget 2022: Crypto gets a backdoor entry in India

On February 1, while announcing the Budget 2022, Finance Minister Nirmala Sithraman announced something that was totally unexpected. Sithraman said income from 'virtual assets' will be taxed at 30% and one percent TDS (tax deducted at source) will be deducted on these investments. The government defines virtual assets as any instrument, generated through cryptographic means providing a digital representation. In simple words, it includes all private crypto currencies.

01.02 / 15:53

cryptocurrency Money Bitcoin India announces plans to introduce ‘digital rupee’ and tax cryptocurrencies at 30%

India is set to launch a state-backed digital currency by next year and said it will tax cryptocurrencies and NFTs as part of new fiscal measures announced by the government on Tuesday.

01.02 / 13:10

cryptocurrency NFT defi Budget 2022 What are ‘virtual digital assets’ that will be taxed at 30% now?

virtual digital assets at a flat rate of 30 per cent, with no deduction and no provision to set off against any other income. Gift of virtual digital assets is also proposed to be taxed in the hands of the recipient. The government has also proposed a 1 per cent tax deducted at source (TDS) in order to track the transactions. Many see this as a masterstroke that will help the government track every transaction as market players will be liable to deduct taxes and report the transaction to the government. The clarification on the taxation of cryptocurrency was a long pending demand from the industry.

01.02 / 12:38

cryptocurrency Tax Bitcoin India Sends Crypto Legalization Signs With Tax Plans, WRX Skyrockets

In another turn of events involving India’s crypto policy, the country’s Finance Minister Nirmala Sitharaman has proposed to tax gains from crypto transfers at a 30% rate, with no deductions to be allowed. Moreover, the country’s central bank digital currency (CBDC), the digital rupee, is to be rolled out by the Reserve Bank of India (RBI), the country’s central bank, in the years 2022 to 2023, she said.

01.02 / 12:01

cryptocurrency Budget 2022 crypto tax Income Tax Budget 2022: Twitter has a field day with middle class, crypto tax memes

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.

01.02 / 11:13

cryptocurrency Personal Finance Tax Virtual assets Budget 2022: Tax clarity emerges on digital virtual assets

In Budget 2022, finance minister Nirmala Sitharaman gave clarity on how digital assets will be taxed. This means that gains from cryptocurrencies will now be taxed. At present, there are no explicit provisions dealing with taxation of cryptocurrencies under the income-tax act, 1961, given that the Cryptocurrency Bill is pending a debate in the Parliament.

01.02 / 10:31

cryptocurrency Budget 2022 crypto tax National Budget 2022: Nirmala Sitharaman announces national tele mental health programme

Union Finance Minister Nirmala Sitharaman, while presenting the Budget today, announced a national tele-mental health program will be launched for mental health counselling.

01.02 / 09:59

cryptocurrency Budget 2022 crypto tax Budget 2022: Nirmala Sitharaman announces mental health programme

Union Finance Minister Nirmala Sitharaman, while presenting the Budget today, announced a national tele-mental health program will be launched for mental health counselling.

01.02 / 06:55

cryptocurrency Budget Govt to take balanced view on crypto: Sanjeev Sanyal

New Delhi: The government will take a balanced view on the issue of regulation of cryptocurrencies as they have implications on the country's financial stability, Principal Economic Adviser Sanjeev Sanyal said on Monday. Currently, there are no particular regulations or any ban on use of cryptocurrency in the country. The issue of cryptocurrency has not been covered in the Economic Survey 2021-22, Sanyal said in an interaction with media on the Survey tabled in Parliament by Finance Minister Nirmala Sitharaman earlier in the day. «As you know, this is a matter of some debate, both inside the government, in the Ministry of Finance, and even in Parliament. So, this is something that is currently in discussion,» he said.

01.02 / 06:45

Ethereum cryptocurrency solana Bitcoin Cryptocurrency Prices Today : Ahead of Budget 2022, bitcoin, ethereum rise

The global cryptocurrency market capitalisation rose 4.66 percent over the last 24 hours to $1.75 trillion, while the trading volumes were up 15.08 percent to $63.86 billion.

01.02 / 05:09

cryptocurrency Crime Legal YouTube Jail Men Who Spiked a Crypto YouTuber’s Coffee to Steal Coins Sent to Jail for 3 Years

Two South Korean YouTubers who robbed a fellow crypto broadcaster by spiking them with sleeping pills and stealing USD 660,000 worth of tokens, have been sentenced to three years behind bars – after a disagreement about sharing the profits of their social media behavior got out of hand.

31.01 / 16:26

event cryptocurrency RegTech Africa Conference to Drive Growth and Shape Digital Economy

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

31.01 / 16:05

cryptocurrency Altcoins BitMEX exchanges BitMEX Airdrops BMEX 1.5M to Traders, Reveals Litepaper

Crypto exchange BitMEX has airdropped BMEX 1.5m to its new and existing users. It also unveiled the BMEX Token Litepaper prior to the airdrop, outlining the roadmap for the token.

31.01 / 14:36

cryptocurrency cryptocurrency price today solana price today Bitcoin Top cryptocurrency prices today: Bitcoin, Dogecoin, SHIB & Terra tank up to 10%

cryptocurrency market was back in the red on Monday, thanks to profit-booking following weekend gains. Trading volumes sank significantly on account of the holiday week in Asian markets. Bitcoin, along with other tokens, moved little over the weekend with light trading volume, as the majority of the markets in Asia headed to the weeklong Lunar New Year holiday. All of the top-10 digital tokens were trading lower during the trade on Monday. Terra dropped more than 10 per cent while XRP and Solana shed 5 per cent each.

31.01 / 14:17

Ethereum cryptocurrency Investing Bitcoin 2021 Was ‘Busiest Year by Far’ for Bitcoin IRAs, Interest in Ethereum & Altcoins Grows

With crypto gaining prominence as a mainstream investment vehicle, retirement savings in the form of IRA accounts holding digital assets is on the rise in the US. And according to industry insiders Cryptonews.com spoke with, companies offering crypto IRAs had their best year ever in 2021, despite strong volatility in bitcoin (BTC). Also, interest in altcoins is rising, they say.

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