Blockchain & crypto news from India
Away from the hype and excitement around blockchain and new forms of money, a Foreign Policy article offers a sobering view of the new business world that has sprung around the hype around cryptocurrencies, tokens, DeFi, NFTs and digital assets. It turns out it is the same old finance and market practices that have found…
The ongoing World Economic Forum at Davos is a meeting place of the big names of the world. This year, crypto and blockchain businesses have a lot at stake after a year full of turbulence. Several scams and collapses have hit the trust factor. An unlikely competition has now emerged in the form of CBDCs…
The collapse of FTX has spoiled the crypto party has never before. Little scams and hackings were common, but a mainstream player admitting to wrongdoing and playing around with investor funds has shaken the faith and trust of the global community. Here is a look at the funding scenario in the year gone by and…
Italy, among the top ten crypto friendly countries, has levied a capital gains tax (with loss set off) on gains above Euros 2,000 (a little above $2,000). The tax is applicable for trading of virtual assets, defined as electronic value operating on distributed ledger or similar technology. Before this, Italy defined cryptocurrencies as virtual currencies…
In a post titled “This is what the future holds for cryptocurrencies”, the World Economic Forum has surveyed the dark past of crypto and indicated the course that can shape its future. The WEF is an international NGO and lobbying organization founded by engineer and economist Klaus Schwab in 1971, and based in Geneva, Switzerland….
Brazil is moving closer to accepting Bitcoin. Though yet to give it a legal tender status, the country’s senate voted to adopt a regulatory framework that recognizes Bitcoin as a “digital representation of value”. Bitcoin is considered as belonging to “virtual assets” category, and thus having the status of money as well as a security….
Speaking at a virtual conference of the IMF, RBI Governor T Rabi Shankar has urged the importance of obtaining adequate information on crypto assets and transactions before formulating any regulatory framework. He said that the current information on crypto assets and their movements is not either complete or even misleading. Regulations need to be built…
Nobel prize winning economist Paul Krugman recently said to the media that the overhyped blockchain has proven to be “useless”. The shut down of TradeLens is only one of the events he cites to support his anti-crypto views that he has been sharing for a long time. In 2011, he had published an op-ed in…
A small handful of countries consistently rank among the top when it comes to rankings for being crypto-friendly to businesses. As 2022 nears its close, Singapore has emerged on top on various metrics, such as the number of crypto businesses, funds raised and activity of venture firms. Singapore was followed by the UK, Cayman Islands,…
Consistency and adherence to best practices depend on the work of international standard-setting organizations. One of the most intriguing technological advancements of our day, blockchain is revolutionizing a wide range of goods and services. The blockchain market could be valued $1.4 trillion by 2030 and increase the world’s gross domestic product by $1.76 trillion. The…