Meta trademark anticipates for cryptocurrency payments platform

Meta, social media giant Facebook’s parent company, is hinting to launch a payments platform with support for crypto. As per records, Meta filed 5 applications for its namesake to be utilized in a platform named Meta Pay. The filings included Meta’s name for use in an ‘online social networking service for investors enabling financial exchange…

Crypto mixer Blender sanctioned by the United States

On Friday, the US announced that it is sanctioning North Korean digital currency mixing company Blender.io, which the nation allegedly uses to launder stolen digital currency and foster cybercrimes. The sanctions, imposed by the Office of Foreign Assets Control of the Treasury Department are the first-ever on virtual asset mixing service. The new sanctions also…

Does Amazon hint at allowing crypto payments in the future?

Andy Jassy, CEO of Amazon, believes in the power of digital cryptocurrencies. However, the company is not likely to begin acknowledging cryptocurrencies on its retail platform anytime soon.  Amazon’s CEO said he doesn’t have Bitcoin himself in his first letter to shareholders. He further added that shortly, there is no probability of adding crypto as…

Joe Biden to issue an executive order on crypto

President Joe Biden is anticipating signing an executive order on crypto this week that will mark the initial step towards regulating how digital currency is traded. The stance comes as admin officials have raised issues in recent weeks about Russia’s use of crypto to escape the impact of crushing sanctions in response to its invasion…

Finance Secretary says Blockchain policy has nothing to do with crypto policy

TV Somanathan, Finance Ministry Secretary said that the government policy vis-à-vis blockchain has nothing to with its policy towards virtual digital assets (VDAs) or cryptocurrency. He added that there should not be any worry regarding the use of blockchain in areas apart from currencies or payments. At an event, he said that Government’s policy towards…

Tax on crypto

Is higher taxation a solution for the risks involved in cryptocurrencies?

On 1st February, while announcing the Budget 2022, Finance Minister Nirmala Sitharaman announced something unexpected.  Sitharaman said income from the virtual or digital assets (cryptocurrency) will be taxed at @30%. In addition, @1% TDS (tax deducted at source) will also be levied by the government on these investments. The 30% taxation is retributive tax, harshly…

Budget 2022: 30% tax on crypto assets; RBI to issue digital rupee

On Tuesday morning, Finance Minister Nirmala Sitharaman confirmed that RBI (Reserve Bank of India) will launch a digital rupee soon. The digital currency by RBI will be based on blockchain technology the tech behind Bitcoin and other famous cryptocurrencies. FM said that the digital rupee will be issued by 2022-23 without offering any clarity on…

Meta – Facebook is winding its cryptocurrency division

On Wednesday, the Wall Street Journal reported that Meta Platform Inc.’s digital currency project Diem Association is shutting down and selling its technology to California-based Silvergate Capital for about $200 million. Formerly Facebook Inc., Meta first unveiled plans for Diem, called Libra previously, in June 2019, as part of an effort to expand beyond social…