Cryptocurrency remains a mystical subject for many enthusiastic investors in India. While cryptocurrencies are slowly gaining recognition from investors and regulators alike, with leading countries and brands embracing them as an official offering, there are still a sizable number of people who want to invest in cryptocurrencies but are unable to follow closely. breakdown and development. industry news, which will help them take note of price movements, big sell-offs, and announcements of new blockchain-based developments.
This live news blog is here to help. From huge market losses to notable statements, follow this live blog to stay up-to-date with the latest happenings in the world of cryptocurrencies.
While there are many cryptocurrencies to explore, Bitcoin (BTC) is the most popular as it is the oldest and most valuable crypto currency in the world. As of October 20, the price of Bitcoin stood at $19,051.39, according to data from CoinMarketCap. At the time of writing, the global crypto market capitalization stood at $914.59 billion, posting a 1.41% drop in the last 24 hours.
While cryptocurrency is not regulated in India, cryptocurrencies are classified as virtual digital assets (VDAs). Under the new tax regime that came into effect on April 1 this year, VDAs attract 30 percent tax on profits. In addition, a TDS of 1 percent applies.
Disclaimer: Crypto products and NFTs are unregulated and can be very risky. There may be no regulatory recourse for any losses from such transactions. Cryptocurrency is not legal tender and is subject to market risks. Readers are advised to seek expert advice and carefully read the offering documents along with relevant literature before making any investment. Cryptocurrency market predictions are speculative and any investment made will be at the sole risk and expense of the readers.