Crypto tax

CBDT releases crypto TDS guidelines

The CBDT (Central Board of Direct Taxes) has shared clear guidelines on the newly introduced TDS on crypto transfers which will be applicable from July 1.  The guideline was published on 22nd June evening, and in this blog and we’ll break it down for Blockmagic readers. The Income Tax department has published much-needed guidelines to throw…

crypto adoption world
Environment

Here is How Blockchains are Assisting with Reducing Environmental Impact

Over the last several years, governments and organizations worldwide have discovered that mitigating climate change and biodiversity loss challenges are only attainable through innovation. One of the means that could be highly useful in tackling the climate crisis is blockchain.  Blockchain could be utilized to ensure sustainable business practices via: Renewable energy As per UN…

Cryptocurrency

Bitcoin Has No Intrinsic Value – Governor of The Bank Of England

The Bank of England’s Governer says that cryptocurrencies such as Bitcoin have no intrinsic value, and their utilization for payments is not practical. However, Andrew Bailey acknowledges that the underlying technology “may well lead to things.” His comment adds to a similar but more incriminating assessment of crypto by European Central Bank President – Christine Lagarde this Sunday. …