India, until March 2023 for the financial year 2022–23, a total of Rs. 157.9 crore has been collected in direct tax or deducted at source (TDS) on payments made upon transfer of virtual digital assets (VDAs) and cryptocurrencies. Cryptocurrencies and other VDAs are entitled to 1% TDS, which went into
As Ottawa tightens its regulatory monitoring of the volatile crypto sector. The Canadian federal government said that federally regulated pension plans in the country would be required to report their exposure to crypto assets to the Office of the Superintendent of Financial Institutions (OSFI). Under the proposed 2023 budget proposal.
On March 28, the DeFi project SafeMoon announced on Twitter that a hacker had gained access to the project’s liquidity pool (LP). SafeMoon has stated it is taking action to rectify the situation as quickly as possible but has not provided any other specifics regarding the assault. Several famous people
OKX, a cryptocurrency exchange established in Seychelles, has stated that it would be seeking virtual asset licenses under the new regulatory system, as well as Type 1 and 7 licenses under the Securities and Futures Commission (SFC), in order to establish a presence in Hong Kong. In addition, it intends
Bitcoin’s current consolidation phase has conquered the prime attention of the crypto community. The dominant cryptocurrency laid out a neutral price channel between $26.5K to $28.5K since last week. Remarkably, analytical findings pointed out the increasing investors’ profit-taking and confidence in Bitcoin. In the above chart, the relative strength index
The social dominance of XRP, the cryptocurrency linked to Ripple Labs, has significantly increased recently. Following that, the XRP token has surged over 12% in the last 24 hours to hit a ten-month high of $0.55. This is the first time since May 08, 2022, XRP has achieved this feat.
Galaxy Digital, a Canadian investment business run by blockchain advocate Mike Novogratz, reported a preliminary pre-tax profit of $150 million from January 1, 2023, through March 24, 2023. This figure was announced on March 28. After a $1 billion net loss in 2022. Mostly attributable to an unrealized $659 million
NFT Inspect, a popular research tool to evaluate an NFT’s worth and the health of its community, is back on track. Today, JVH Technology Inc. announced its acquisition of the company that serves as the ultimate hub for NFT communities and enthusiasts. Further, this acquisition of NFT Inspect, a renowned
As part of a sweeping revision of anti-money-laundering regulations. Lawmakers in two influential committees of the European Parliament decided to place restrictions on payments. Specifically made by individuals who cannot prove their identity. Plans to establish a new European Union Anti-Money Laundering Agency, AMLA, and prohibit firms from receiving significant
DUBAI, United Arab Emirates–(BUSINESS WIRE)–Crypto 1 announces the founding of the C1 Secondaries Fund (the “Fund”), a newly incorporated investment fund targeting $500M investing in secondaries in Blockchain, Crypto, Web3 and FinTech companies. The C1 Secondaries Fund is a regulated private investment fund formed for the purpose of investing in
