Digital Financial News

02.02 / 09:15

Digital Budget 2022 | How taxation will affect crypto assets

Budget 2022 has offered the best legalized definition of what a digital asset could mean. Along with that, all crypto players also have the clarity on what kind of categorization is applicable at least as far as income tax is concerned.

02.02 / 00:29

Blockchain BLOCK Digital litecoin Litecoin goes private with much-anticipated Mimblewimble integration

After a multi-year period of anticipation and excitement, the Litecoin network has finally released its Mimblewimble update, steering the platform’s path towards becoming a fungible and payment-focused cryptocurrency.

01.02 / 22:17

UPS Digital Racing Post successful pilot test, Jamaica may begin nationwide CBDC rollout this quarter

The global race between governments to launch a central bank digital currency (CBDC) has heated up exponentially over the past month, especially now that some of these currencies have already been rolled out by countries like Nigeria and the Bahamas.

01.02 / 22:17

COST Digital Bitcoin Bitcoin: Carbon emissions of mining ops remain minimal at 0.8% of global share

The rapid expansion of cryptocurrency over the years has been nothing short of stunning. At press time, the crypto market stood just shy of the $1.7 trillion. But the increasing popularity of cryptocurrency has environmentalists on edge. The digital mining of Bitcoin created a massive carbon footprint due to the staggering amount of energy utilised. Based on data from the Bitcoin Energy Consumption Index from Digiconomist, the carbon footprint of Bitcoin wasequivalent to a few countries.

01.02 / 21:05

COST Digital Bitcoin El Salvador’s pro-Bitcoin FM fires back at IMF’s ‘insult’

The International Monetary Fund warned El Salvador to drop Bitcoin as legal tender. Not just once, or twice, but at least 4-5 times in the past. In fact, even the Executive directors urged El Salvador to detach Bitcoin’s status as legal tender in the country. What’s more, in a recent release, the IMF insisted that El Salvador dissolve its $150-million trust fund incorporated at the time of its policy decision.

01.02 / 21:05

Digital Extreme India’s 30% crypto-tax proposal – Can’t tax something ‘illegal’… or can it?

Hours after the Indian government’s announcement to bring the transfer of digital assets into the 30% tax bracket, the industry seems to be divided on its implications.

01.02 / 21:05

COST Provident Digital Fitch South East Asian banks venturing into crypto face heightened risks, warns Fitch

After a year of enthusiastic ventures and acceptance regarding cryptocurrencies, banks in South East Asia might be in for a hard time going forward, analysts at top financial institutions have warned.

01.02 / 20:03

COST Provident Digital India to Launch Central Bank Digital Currency

India's central bank plans to launch a virtual version of the rupee in the 2022-2023 fiscal year, which begins on April 1.The announcement of the country's central bank digital currency (CBDC) came at the same time that India said it will impose a 30% tax on income gained from digital assets.In launching a CBDC, India joins a growing list of countries to issue national digital currencies.

01.02 / 18:35

Target Digital Ripple Key lawsuit set to test SEC’s push into crypto regulation

The booming cryptocurrency sector’s complaints that Washington has gone too far in cracking down on its unregulated products are getting tested in a key lawsuit targeting Ripple Labs and its digital coin, XRP.

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 / 15:19

Blockchain Digital Union Budget 2022 Union Budget 2022: All Except RBI Currency Are Assets, Finance Minister To NDTV On 30% Tax

Union Budget 2022: Nirmala Sitharaman said digital assets transactions will be taxed at 30%

01.02 / 14:49

Blockchain Digital Virtual assets India to issue a blockchain-based digital rupee alongside 30% tax on virtual assets

The Indian finance ministry said the government will soon launch a digital rupee using blockchain technology with the country's central bank, a move that could put it far ahead of other nations.

01.02 / 14:22

Facebook FIVE Digital CEO Executive This executive is the latest to urge the need for Metaverse-related regulations

The hype and speculations around the Metaverse hit an all-time high in 2021. In fact, mentions of the keyword ‘Metaverse’ rose by over 135% in Q4 earnings transcripts following Facebook’s Meta announcement. This marked a smooth inclusion under the “niche” market umbrella that includes cryptocurrencies as well. Similar to digital assets’ rise over the years, regulatory concerns have now fueled a ‘blurry’ narrative around the same.

01.02 / 14:13

Digital CEO Platform BitMEX BitMEX Releases BMEX Token Litepaper, Airdrops over 1.5 Million BMEX to New and Existing Users

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

01.02 / 13:07

Blockchain COST Digital Breaking | India: Transfer of digital assets to attract 30% tax

Finance Minister Nirmala Sitharaman has unveiled the Indian Budget today for 2022-23 with two major announcements around cryptocurrencies.

01.02 / 03:19

Provident Digital Aware Platform Eastern Caribbean CBDC platform crashes

The ECCB released the digital dollar in pilot form in March last year following two years of work with technology company Bitt.In a statement, the central bank says: "The ECCB is fully aware of the impact of this service interruption to all of our DCash partners. We are actively and diligently working with our service provider, technical partner and specialists to bring the platform back online."The bank says a report has been made and logged of all failed transactions, which will be honoured in full once the network is up and running again.

01.02 / 03:13

Citi Digital Limelight Winter Olympics Winter Olympics spotlight Beijing’s digital yuan: Will China’s CBDC plans push others to move faster?

Central bank digital currencies will get some international limelight over the next couple of weeks as China plans to test its digital yuan at the Beijing Winter Olympics.

31.01 / 22:20

Blockchain Digital Racing Strategy Winter Olympics Japan could be taking the slow route on CBDC development for this reason

As China races ahead with not just CBDCs, but also blockchain project pilots, all eyes are on its neighbours. In particular, experts worldwide are closely watching Japan.

31.01 / 20:55

Digital NFT Platform NFTS Digital Entertainment Asset to Introduce Manga Artists Fujiwara’s NFT Collection “The Land”

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

31.01 / 20:43

Blockchain Twitter Digital CEO valuation FTX hits $32bn valuation

News of the raise comes shortly after the company's FTX US subsidiary closed its own $400 million round at an $8 billion valuation.While crypto prices have tanked in recent weeks, FTX says it has seen its userbase grow by 60% and its daily trading volume increase by 40% since a Series B-1 round in October. The firm also recently launched FTX Ventures, a $2 billion venture fund created to advance global blockchain, cryptocurrency and Web3 adoption.Sam Bankman-Fried, CEO, FTX, says: "This round will support our continued mission of delivering innovative products and services to the marketplace as well as expanding our global reach with additional licenses around the world.

31.01 / 20:33

Ethereum Lowe's Digital Platform Earth NextEarth Metaverse: Virtual Land Ownership Platform On The Exact Copy Of Earth

NextEarth’s ambition is to create a new digital Earth. This ‘next earth’ is a metaverse that is free from our current society’s power structures. At its core, it is the only digital replica of Earth that is founded upon NFTs and the ability to mint, buy and sell virtual land. With NextEarth, users will have agency and ownership over their lives, instead of a metaverse dominated by digital overlords.

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