Blockchain & crypto news from India
In a world-first, bitcoin becomes a legal tender in El Salvador on Tuesday. This is a real-world experiment that proponents say will reduce commission costs for billions of dollars sent home from foreign countries but which critics alerted may boost money laundering. The plan led by the charismatic, young and famous president Nayib Bukele is…
The postponement in the government establishing the regulation on crypto has given rise to intense lobbying, with agencies anxious over the risks emerging from an unregulated section with utmost price unpredictability, posing a threat to investors, the majority of who don’t understand the instrument. In addition to this, there are issues over the instrument being…
The government is aiming to define cryptos in the latest draft bill that also suggests to categories cryptos on the basis of their use cases. According to reports, cryptos will be regarded as a commodity/asset for all reasons, including taxation and according to use case – investment, payments or utility. This would be the first…
The tax department and buyers are in a dilemma over how to calculate profits on crypto for taxation purposes, especially since tax regulations lurch and there exist disagreement against specific laws and tax is computed on the value declared by the assessee. The big query that’s worrying all is how the profits from crypto assets…
India appeared as the world’s second-largest crypto market by adoption the previous year. With the objective to revolutionize the entire experience, Rainmaker, the world’s first fantasy crypto game was introduced today, to provide India’s crypto curious and enthusiasts an entirely distinctive and new trading experience. Rainmaker is based on the key vision of democratizing knowledge…
Athey Nallatha, a Kerala-based startup that sells fusion pickles to global as well as domestic clientele, becomes the first firm in the state which is ready to accept crypto for its payments. The startup claimed that it is also the 7th company in the country to enter into crypto-based transactions. The firm started its payment…
A bug in the most famed software used to verify transactions on the Ethereum platform almost prompted a crisis for the most widely used crypto blockchain in the world. Almost half of the Ethereum network divided into a distinct chain after a flaw in the Geth or Go Ethereum, software affected users who hadn’t executed…
In spite of the uncertainty surrounding virtual coins, Raghuram Rajan, the ex-governor of the Reserve Bank of India (RBI) is optimistic about the scope of cryptos in the upcoming time. The well-recognized economist said cryptos have a ‘potential future’ if they’re regulated well. As per the reports, he also seemed positive about well-regulated stable coins,…
Come September, crypto tokens like Ethereum, Bitcoin and others will be taking one of their biggest moves towards legitimacy. A new digital registry is being developed that will add distinctive identifiers to these digital tokens. DTIs (Digital token identifiers) are being launched to monitor the movement of cryptos according to the International Organization for Standardization…
Alibaba Group of China has started a non-fungible token (NFT) marketplace. The dedicated platform enables customers to sell and purchase NFTs and also supports licensing and selling of intellectual property (IP). The Chinese tech major has combined two distinctive markets into one and developed a new bouquet of services available on a solitary platform. According…