Taxation Financial News

18.01 / 07:33

cryptocurrency taxation Budget 2022 Bitcoin NOT Budget session not likely to see crypto bill being presented

The much-awaited cryptocurrency bill, which had been scheduled for presentation during parliament's winter session last year, is unlikely to see the light of the day during the budget session as well which will start from January 31.

27.02 / 05:53

Blockchain cryptocurrency regulation taxation tds The economic potential of cryptocurrencies in India's $7 trillion vision

cryptocurrency industry is emerging as a key driver in the nation's pursuit of a $7 trillion economy. With an expanding market, innovative startups, and a dynamic user base, crypto advocates are pushing for clear and supportive policies to reveal the full potential of digital currencies. By creating an environment that enhances transparency, reduces transaction costs, and builds investor confidence, cryptocurrencies are well-positioned to play a pivotal role in shaping India's digital economic future.

19.07 / 10:29

crypto news Crypto industry taxation Investors union budget Regulations What is the Indian crypto industry expecting from Budget 2024? Here's the wishlist

Finance Minister Nirmala Sitharaman. Among the many sectors eagerly awaiting the announcements, the cryptocurrency industry has high hopes for favorable reforms that could significantly impact its growth and regulatory landscape. Industry experts have outlined a clear wishlist ahead of the Budget, focusing on critical issues such as the high transaction tax and the inability to offset losses against gains. These concerns have been significant deterrents for investors and innovators in the crypto space. Meanwhile, the crypto community is optimistic that the government will address these challenges to create a more conducive environment for the sector.

18.01 / 07:43

Crypto industry taxation Assets tds budget 2024 What Indian crypto industry is hoping for from Budget 2024? Here's the wishlist

Budget 2024 looms on the horizon, the Indian crypto industry is buzzing with expectations, eager to witness how the Central Government will shape the regulatory landscape for virtual digital assets (VDAs). A focal point for industry experts is the pressing need for changes in the classification and taxation of these assets. One prominent demand from experts is the abolition of the 1% Tax Deducted at Source (TDS), a measure currently in place. Analysts argue that this TDS rate hampers investor participation by causing capital losses with each trade, discouraging potential investors from entering the crypto market. Leading voices in the industry have articulated their hopes for Budget 2024:

18.01 / 06:57

Binance regulation taxation expansion Binance eyes Thailand for latest crypto exchange expansion

Binance is looking to re-establish crypto exchange services and possibly open a new branch in Thailand after signing an agreement with Gulf Energy Development PCL.

30.11 / 04:49

regulation taxation lawmakers Deal South Korean lawmakers inch closer to deal to delay crypto tax by one year

In what could be a big win for the local crypto industry, South Korean lawmakers are close to delaying taxation on digital assets for another year.

18.11 / 06:41

regulation taxation lawmakers Lawmakers push back on crypto provisions in Infrastructure Bill

Lawmakers from both sides of the aisle are fighting back against changes to tax reporting rules for crypto brokers and transactions over $10,000 in the newly passed Infrastructure Bill.

05.11 / 07:13

defi regulation taxation 8-word crypto amendment in Infrastructure Bill an ‘affront to the rule of law’

Legal experts have warned that a section of the Infrastructure Bill, which is due for a vote today, amends a part of the tax code and makes a failure by businesses and individuals to report digital asset transactions a criminal offense.

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