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Over the last few months, there have been many discussions (and a lot of confusion) around crypto tax in India. In this post, I will briefly explain all the laws that apply to cryptocurrencies in India. Before we begin, let’s quickly understand what Non-Fungible Tokens (NFTs) are. NFTs are digital proof-of-ownership of an underlying asset […]
Crypto lender Voyager Digital said on Friday it has suspended withdrawals, trading and deposits to its platform and said it is exploring strategic alternatives to preserve the value of its platform. The move comes days after the company issued a default notice to embattled hedge fund Three Arrows Capital (3AC) for the fund’s failure to […]
Ruja Ignatova, the Bulgarian mastermind behind the infamous “One Coin” ponzi scheme, has been added to the US Federal Bureau of Investigation’s (FBI’s) Ten Most Wanted list. Ignatova, who is also known as the self-appointed “crypto queen,” has been accused of scamming her victims out of $4 billion (roughly Rs. 31,580 crore) with her fraudulent […]
A firm billing itself as the world’s largest cryptocurrency asset manager has filed a legal challenge against US securities regulators after they denied an application to list a Bitcoin-focused fund on the stock exchange. Grayscale filed a petition with a federal appeals court on Wednesday, after the Securities and Exchange Commission (SEC) said the proposed […]
Reserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as “clear danger” and said that anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name. The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. Reserve […]
Crypto hedge fund Three Arrows Capital (3AC) has entered liquidation, a person familiar with the matter told Reuters on Wednesday, in the latest sign of the market downturn hurting the crypto industry. Singapore-based 3AC is one of the higher profile crypto investors to have run into difficulties following the sharp sell-off in the market for […]
The crypto market is currently going through a period of heightened volatility as global economic conditions continue to worsen amid a backdrop of rising inflation and interest rates leading to a further drop in value for Bitcoin. As things stand, the price of the world largest cryptocurrency by market value is hovering around the $20,300 […]
Brian Armstrong, the CEO of Coinbase crypto exchange, recently said that very soon, smartphone brands will have to integrate hardware solutions for digital asset holders, as the sector continues to see adoption and expansion. Since software crypto wallets could be more susceptible to being violated, hardware crypto wallets are becoming increasingly popular in the crypto […]
Sam Bankman-Fried’s FTX crypto exchange is exploring whether it might be able to acquire Robinhood Markets, Bloomberg News reported on Monday, citing people with knowledge of the matter. FTX is discussing internally how to buy the app-based brokerage and Robinhood has not received a formal takeover approach, the report said. Robinhood declined to comment. The […]
Layer-1 blockchain Harmony’s Horizon Bridge has been hacked for the sum of roughly $100 million (roughly Rs. 784 crore), becoming the latest blockchain bridge whose security frailty has been exploited in recent months. The Harmony team revealed the breach on Friday, noting that it has instituted preliminary actions to restore normalcy to the Horizon Bridge. […]