The global cryptocurrency market capitalisation rose marginally to $1.9 trillion over the last 24 hours from $1.88 trillion, while the trading volumes dropped to $71.88 billion from $91.22 billion
A petition has been initiated on Change.org for the government of India to “introduce reasonable crypto tax policies”.
The petition begins by noting that there are about 15-20 million crypto investors in India as well as several hundred thousand young Indians who are part of the industry
Indian investors are holding about $6 billion in crypto assets
A home along Florida's Gulf Coast will be auctioned off in the upcoming week as a non-fungible token (NFT) in what is believed to be among the first such transactions in the US
Four-bedroom home in Gulfport, Florida, a California-based real estate technology company, Propy, will mint the property rights into a digital token and host an online auction, with bids starting at $650,000
Chartered accountants decode the crypto tax on matters including the date on which the tax becomes effective, the cost of acquisition and who will deduct TDS
Earlier in her Budget speech on February 1, Finance Minister Nirmala Sitharaman said the transfer of digital assets - and these includes cryptocurrencies and non-fungible tokens- will attract a 30 percent tax
All transfers of such assets will attract 1 percent tax deducted at source (TDS). Even gifting such assets will attract the 30 percent tax
The new provision to tax cryptocurrency gains at 30 percent will come into force from April 1, 2022