Govt says no plans to tax crypto amid calls for regulatory clarity
Govt reiterates there are no plans to bring a law to regulate crypto but stakeholders hope steps being taken on a global level could help domestic industry
Govt reiterates there are no plans to bring a law to regulate crypto but stakeholders hope steps being taken on a global level could help domestic industry
RBI says its findings suggest that the interest in cryptocurrencies is driven by speculative motives rather than a means of payment for real economic transactions.
Despite rally, total short interest has risen by $4.50 billion to $10.71 billion.
Bitcoin price touched a new high of $73,157.55 today, surging 46% in the last one month from $50,000 level.
ETFs flows have crossed $42 billion since the SEC approval early this year.
Bitcoin prices have risen 27% year-to-date, driven by spurt in activities in the spot bitcoin exchange traded funds (ETFs), which started in the U.S. in Jan 2024.
The last time Bitcoin achieved this level was in December 2021, which was subsequently followed by a dramatic downturn that saw the crypto plummet to a low of $16000 by the end of 2022.
The introduction of 1% TDS in 2022 has led to an estimated loss of $420 million in potential government revenue due to migration of Indian crypto traders to overseas platforms.
U.S. SEC approved applications from BlackRock, Fidelity, and Invesco among others.
Kristalina Georgieva says in the past 15 years, the crypto industry has not built a glorious reputation