The FinTech Hub
Source: Live Mint As the Union Budget 2025 approaches, the cryptocurrency industry in India anticipates a more favourable tax and regulatory environment. India has consistently ranked among the top nations in crypto adoption. However, the sector still faces challenges from the 2022 Union Budget, which imposed higher taxes, including a 1% TDS on crypto transactions…
Source: Live Mint Intesa Sanpaolo, the Italy’s biggest bank has made its first proprietary Bitcoin purchase, buying roughly 1 million euros ($1 million) worth of the cryptocurrency. The lender bought 11 Bitcoin on Monday, the bank’s digital asset trading and investments head Niccolò Bardoscia said in an internal email that was posted on online forum…
Source: Live Mint (Bloomberg) — An early Bitcoin investor sentenced last month to two years in prison for tax fraud related to cryptocurrency sales has been ordered to disclose his secret pass codes so US officials can unlock digital assets now valued at about $124 million. Frank Richard Ahlgren III, who owes the government about…
Source: Live Mint The world’s biggest cryptocurrency Bitcoin, saw its record-breaking run slow a bit at 2024-end and into the New Year 2025 — leading to the token’s first monthly drop since August 2024, according to a Bloomberg report. Bitcoin slipped 3.2 per cent in December as investors began cashing profits following the sustained rally…
Source: Live Mint Trump, who favours a friendly regulatory environment for digital assets, has also backed the idea of a strategic national Bitcoin stockpile. Though the cryptocurrency has shed some gains since then, the rally has reinvigorated investor interest in crypto trading. In India, platforms such as CoinDCX, CoinSwitch, Mudrex, Binance, and WazirX…
Source: Live Mint The price of one Bitcoin is approximately ₹80 lakh today. So, if someone possesses 10,000 Bitcoin, his asset would be ₹8,000 crore in today’s scenario. A few years ago, Laszlo Hanyecz (Laszlo) made the first documented purchase of a good with Bitcoin when he bought two Domino’s pizzas for 10,000 BTC. That…
Source: Live Mint Time: 5.30 pm, early May Place: Pitampura, north-west Delhi People wait anxiously in front of a roadside food cart. The long, long queue spills over from the pavement onto the street, leaving bikes, cars, cows and canines jostling for space on the narrow road. A few paces ahead, half a dozen vloggers…
Source: Live Mint A Jodhpur bench of Income Tax Appellate Tribunal (ITAT) recently ordered that the gains on cryptocurrencies sold before 2022 will be treated as capital gains and not as income from other sources. This is believed to hold a lot of significance as the capital gains (both short and long term) on cryptocurrencies sold after April…
Source: Live Mint (Bloomberg) — Bitcoin reached an all-time high for a second consecutive day, with traders eyeing the $110,000 price level. The original cryptocurrency rose as much as 2.1% to $108,315 on Tuesday, before retreating back to its price at the start of the day around $106,000. It has surged more than 150%…
Source: Live Mint Bitcoin surged to a record-breaking high of $107,000, reflecting a nearly 6 per cent increase over the past week. This unprecedented rally was fueled by President-elect Donald Trump’s proposal to establish a Strategic Bitcoin Reserve, modeled after the U.S. Strategic Petroleum Reserve. The announcement has sparked optimism within the cryptocurrency market, signalling…
