Category

Cryptocurrency

Apr 01, 2022
India's Crypto Tax Has Been Implemented ...

As of today, cryptocurrency profits in India will be subject to tax deductions, thanks to crypto legislation suggested in the Union Budget 2022 and ratified by Parliament. This places 'virtual digital assets,' whose classification is still up in the air, in a tax bracket in India. However, as of today, April 1, a 30% tax would be taken from any earnings produced from cryptocurrency trading in India. In addition, India's requirement of one percent TDS on each cryptocurrency transaction is now in effect. Failure to comply can result in serious consequences.
Offenders of India's new crypto rules might face harsh legal consequences, including up to seven years in prison.
“Tax evasion, depending on the specific nature of evasion, may involve imprisonment for as long as six months to seven years and also a fine if the amount is more. Depending on the nature and magnitude of the offense, the fine may go as high as 200 percent,”

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Feb 12, 2022
Intel Introduces a New Blockchain Chip t...

To capitalize on the growing popularity of cryptocurrencies, Intel unveiled a new chip for blockchain applications such as Bitcoin mining and minting NFTs on Friday. The chip will be available later this year, with Block, the Jack Dorsey-led firm that recently changed its name from Square to emphasize its growing focus on blockchain, among the first customers.

Blockchains, which serve as public ledgers that record transactions on a network of computers have grown in popularity in recent years. 

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