Blockchain & crypto news from India
India has tensed cryptocurrency rules by disallowing losses incurred in a particular digital asset to be set off compared to the income from another version of a crypto holding. As per the views of Pankaj Chaudhary to lawmakers in parliament, the government should not allow tax breaks on infrastructure costs incurred while mining crypto assets…
India has recently declared its provisions for taxation on crypto assets. Within a month of Union Budget 2021-22, an intense comment on the digital currency has been made by the Reserve Bank of India (RBI) Deputy Governor – T Rabi Sankar. Sankar has advocated a complete ban on cryptocurrency in India, citing that it has no…
The crypto space like other derivatives markets is faced with volatility. Great development has been made as regard decentralized finance (Defi); crypto savvy individuals can earn passively. With massive trends on cross-chain transactions, liquidity mining, governance token, integration of traditional finance (TradFi) into Defi, among others, the crypto space shows more reason while banning isn’t…
In the last decade, we have experienced major growth in the crypto space around the world. According to the website CoinGecko, the valuation of cryptocurrencies surpassed $3 trillion as of November 9, 2021. Bitcoin – by far the biggest cryptocurrency grew more than a third of that, while the next biggest coin Ethereum, got up…
Since the legal status of cryptocurrencies was on the grey side for so long, but finally, the Indian government came up with a solution to regulate cryptocurrencies and NFTs. India taxes crypto In the union budget 2022-2023, the Indian government covers cryptocurrency and NFTs under the “Virtual Digital Assets” umbrella. The government solved the tax-related…