Cryptocurrencies can offer citizens in emerging economies a potential buffer against runaway inflation and financial mismanagement by governments. But buying them increasingly means navigating onerous regulations and punishing taxes.
India’s chief economic adviser V. Anantha Nageswaran compared cryptocurrencies to the “world of Caribbean pirates” in the absence of regulation where “winners take it all” from somebody else, local media reported. Fast facts See related article: Coinbase blames India’s central bank for exit Cryptocurrencies fail to satisfy basic requirements such as having store value, widespread…
Layer 1 blockchain Fantom has unveiled upgrades to boost settlement speed and platform efficiency, the Fantom Foundation announced on Thursday. See related article: Fantom overtakes Binance Smart Chain in DeFi TVL Fast facts Fantom’s upgrades include the implementation of all London EIP-1559 changes and a new variation of the consensus mechanism called Lachesis Light Repeater,…
A typo error on the Income Tax Department’s website mistakenly altered a 1% tax-deducted-at-source (TDS) figure to 0.1%, and has since been rectified, the Income Tax Department said on Wednesday. Fast facts See related article: India’s crypto tax will incur losses for government, says WazirX CEO “Some media reports have come to the notice of…
Falling prices, an imploding stablecoin, and more reports of hacks have occupied the cryptocurrency headlines in recent weeks, so it’s perhaps no surprise that regulators have noticed and they intend to do something about it.
IRA Financial Trust announced a lawsuit against cryptocurrency exchange Gemini Trust Company on Monday for alleged failures in safeguarding IRA’s crypto assets in the exchange. See related article: Binance users burned by outage band together to take legal action Fast facts IRA manages self-directed retirement accounts in non-traditional assets such as Bitcoin which were held…
Top blockchain and crypto news: Investors shun LUNA 2.0. Ethereum gains amid relief rally. China’s stimulus goes digital.
Cryptocurrency companies in the Philippines await legislation from the new Ferdinand Marcos Jr. administration on how the government will tax the industry. Some are worried.