Page 26 - Cryptocurrency

Centre may seek crypto log on transactions from banks, exchanges

Sale and purchase of digital assets will reflect in the AIS

Amitabh Bachchan pays up after DGGI evasion notice on NFT sale

Bachchan had entered into an agreement with Rhiti Entertainment Pte. Ltd, Singapore, for conversion of his content into NFTs by way of an auction.

Cryptoverse: Bitcoin not anonymous enough for growing cohort of users

A volatile class of crypto known as privacy coins has quietly been gaining ground this month as maturing bitcoin inches towards mainstream finance

Crypto industry miffed by govt's position on barring tax deductions

Losses from one kind of VDA like cryptos and NFTs can't be set off against gains from another. Infra cost in mining such assets won't be allowed to be used for availing any deductions

Crypto mining cost not to be allowed as deduction under I-T Act: FinMin

The minister said while computing the income from transfer of VDA, no deduction in respect of any expenditure (other than the cost of acquisition) or allowance is allowed

Govt working to classify cryptocurrency under GST law, 'remove doubt'

The government is working on classification of cryptocurrency as goods or services under the GST law, so that tax can be levied on the entire value of transactions

Australian watchdog sues Facebook-owner Meta over scam advertisements

Australia's competition watchdog filed a lawsuit against Meta on Friday, alleging the social media giant failed to prevent scammers using its platform to promote fake ads featuring well-known people

No plans to introduce cryptocurrency, Centre says in Rajya Sabha

RBI is currently working towards a phased implementation strategy for introduction of CBDC

ED investigating 7 cases of cryptocurrency usage in money laundering

The Enforcement Directorate is investigating 7 cases in which cryptocurrency has been used for money laundering and has so far attached proceeds of crime worth Rs 135 crore, Parliament was informed

Indian-American among 2 indicted in US for role in crypto money laundering

Two persons, including an Indian-American, have been indicted by a US court for their roles in a cryptocurrency money laundering scheme, the Department of Justice said. Lois Boyd, and Manik Mehtani -- both from Virginia -- face up to 20 years in federal prison. According to the indictment, Boyd and Mehtani are alleged to have conspired with others to receive victim money derived from a variety of fraud schemes and launder the proceeds through cryptocurrency. They allegedly have routinely structured deposits to avoid transaction reporting requirements and to conceal the nature and source of the criminal proceeds, the Department of Justice said. They allegedly exchanged the criminal proceeds for cryptocurrency and directed the cryptocurrency to wallets under the control of their foreign co-conspirators, it said. In August 2020, Boyd and Mehtani travelled to Longview, Texas, where they attempted to exchange more than USD 4,50,000 for Bitcoin. They were temporarily detained and the mo

Crypto brain drain is 'crazy' in India, says Polygon co-founder Nailwal

India's dithering on whether to embrace digital assets is causing thousands of developers, investors and entrepreneurs to leave for places with more friendly regulation, said Polygon co-founder

Bitcoin drops below $40,000 as Biden-inspired optimism fades

Most of the top cryptocurrencies were down at least slightly in the 24 hours to 4:15 p.m. Hong Kong time

Bitcoin tops $42,000 as Biden kick-starts US cryptocurrency oversight

The largest cryptocurrency rose as much as 10 per cent to $42,427 on Wednesday morning in New York, its highest level since March 2

Bitcoin rallies after Biden signs executive order on digital assets

Biden's order will require the Treasury Department, the Commerce Department and other key agencies to prepare reports on 'the future of money' and the role cryptocurrencies will play

President Biden signs order on cryptocurrency as its use explodes

Biden signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should jump in and create its own digital currency.

Joe Biden expected to sign executive order on cryptocurrency this week

President Joe Biden is expected to sign an executive order on cryptocurrency this week that will mark the first step toward regulating how digital currency is traded

Crypto exchanges won't bar Russians, raising fears of sanctions backdoor

Some of the world's biggest cryptocurrency exchanges are staying put in Russia, breaking ranks with mainstream finance in a decision

Paresh Maity joins NFT bandwagon, collection to be auctioned on March 4

With five of his paintings going under the hammer on an NFT marketplace on Friday, leading contemporary painter Paresh Maity becomes the new artist dipping his toe into the world of metaverse

18% of super-rich Indians invested in cryptos, NFTs last year: Report

In its Wealth Report released on Tuesday, Knight Frank said 18 per cent global UHNWIs now own cryptocurrencies or tokens, and 11 per cent have invested in NFTs (non-fungible tokens)

Indian founder on the run in global $2.4 bn crypto ponzi scheme

Satish Kumbhani, founder of crypto BitConnect who has been indicted in the US for running a $2.4 billion crypto ponzi scheme, has likely "relocated from India to an unknown location" abroad