Indian crypto tax creates more confusion than clarity for traders, exchanges
The announcement of a crypto tax dispelled fears of a ban but left exchanges wondering whether they may be hurt in the long run.
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E-CNY chief says digital dollar poses no threat to China
China does not expect significant impact on its monetary system if the digital dollar were introduced, said Mu Changchun, director-general of the People’s Bank of China Digital Currency Initiative on Wednesday. He spoke at a panel organized by the Atlantic Council think tank to support the release of the International Monetary Fund’s report on central…
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India’s digital rupee to run on state-backed e-wallets
The Reserve Bank of India’s (RBI) digital rupee will run on a government-mandated electronic wallet that will allow the central bank to be the middleman between merchants and customers, a top government official told the Press Trust of India. Fast facts The government official said the nation’s central bank digital currency (CBDC) is likely to…
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What I learned from my role in digitizing the yuan
CBDCs are vulnerable to hacking and the powers of quantum computing, cybersecurity expert Amnon Samid writes. Central banks must heed the warning.
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India crypto tax: Exchanges cheer, investors jeer
A 30% tax doesn’t legalize cryptocurrencies but exchanges no longer worry about a ban, while investors would pay taxes at twice the rate of other asset gains.
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Indian crypto tax ends fears of ban as investors brace for impact
Top blockchain and crypto news: New Delhi’s crypto give and take. Malice in Wonderland? Hong Kong’s selective spot ETF rules.
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India to place 30% tax on crypto income
Indian Finance Minister Nirmala Sitharaman said in her budget speech on Tuesday that a 30% tax will be levied on income from all cryptocurrency or digital assets transfers. Fast facts The levy on cryptocurrency will also apply to non-fungible tokens (NFTs) and gifts, where the recipient will be taxed. In case of losses from crypto…
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India FM: RBI to issue blockchain-based digital rupee
Indian Finance Minister Nirmala Sitharaman confirmed at the parliament budget session on Tuesday that the Reserve Bank of India (RBI) will issue a digital rupee based on blockchain, as she proposed the issuance for financial year 2022-23. Fast facts “Digital currency will also lead to a more efficient and cheaper currency management system,” the minister…
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Five questions about the digital yuan at the Winter Olympics
All eyes will be on Beijing for the upcoming games — will China use the spotlight to officially launch its CBDC?