Page 60
The introduction of tax on cryptocurrencies in the 2022 Union Budget marked a turning point for the crypto economy in India. Under section 2(47A) of the Income Tax Act 1961, digital currencies have been defined as virtual digital assets (VDV).
Jun 3, 2024Matter Labs' attempt to trademark the term "ZK" (zero knowledge proofs) by Matter Labs, the team behind the zkSync solution that aims to scale Ethereum's transaction throughput, has created a storm in the cryptocurrency space. This move has drawn criticism from respected academics and entrepreneurs who argue that the basis for ToM evidence should be a "public good" accessible to everyone. This incident brought into question the delicate balance between intellectual property rights, open source innovation and community collaboration in the cryptocurrency ecosystem.
Jun 3, 2024While Bitcoin has been on a fluctuating trend lately, it has recorded an increase of 1.3% in the last 24 hours. Bitcoin, which was traded at $ 69,080 at the time of writing, continues to keep the eyes of investors. The market value reached over 1.35 trillion dollars, with daily transaction volume exceeding 22.7 billion dollars. This positive development follows the investment movements that the Bitcoin ecosystem has witnessed in the last week.
Jun 3, 2024Competition between cryptocurrency exchanges in Europe continues to intensify. OKX, one of the prominent players in this competition, has made a strong entry into the Dutch market. The company launched both its centralized cryptocurrency exchange (CEX) service and its Web3 wallet, called OKX Wallet, in the Netherlands on June 3. With this move, OKX aims to provide Dutch investors with easy and safe access to crypto money.
Jun 3, 2024European Union law enforcement authorities have undertaken a significant operation to disrupt ransomware attacks. In the operation organized by Europol and called "Operation Endgame", a hacker gang that helped ransomware attackers inject their malicious codes into the system was brought down. As part of the operation, which took place between May 27 and 29, four people were arrested and more than 100 servers linked to hackers and malware developers were seized. Europol announced that this operation was "the largest operation against botnets".
Jun 3, 2024Alex Hoffman, who until now has kept secret that he is the anonymous founder of the decentralized finance (DeFi) yield protocol Nirvana Finance, serves as head of ecosystem at Superposition. But two years ago, the protocol suffered a $3.5 million flash loan attack.
Jun 3, 2024Vitalik Buterin, co-founder of Ethereum, one of the most important names in the cryptocurrency world, examined the "block size war", one of the most controversial issues in Bitcoin history, in his recent blog post. Buterin conducted his analysis by comparing two important books written on the subject. While Jonathan Bier's "Block Size War" offers a perspective defending small blocks, Roger Ver and Steve Patterson's book "Bitcoin's Usurpation" defends the side of large blocks.
May 31, 2024Alchemy Pay has officially partnered to use Galxe's latest Layer-1 blockchain innovation, Gravity Chain, taking a significant step towards creating an interconnected Web3 ecosystem. This collaboration is a transformative step that promotes seamless integration across vast blockchain networks and heralds a new era of cross-chain solutions.
May 31, 2024Unchained, a Bitcoin financial services company based in Austin, Texas, has taken a step that challenges the traditional financial structure. Together with the University of Austin (UATX), they launched a groundbreaking initiative in the world of cryptocurrency. This initiative will be the first long-term Bitcoin trust fund.
May 31, 2024The Bitcoin market outlook gained significant attention after Elon Musk's latest tweet denied having had any conversations with former US President Donald Trump about cryptocurrencies.
May 31, 2024With the rise of Web3 technology, NFTs, which represent ownership of digital assets, have gained a prominent place in popular culture and even in the traditional financial sector. Playing a pioneering role in this innovative field, Animoca Brands is preparing to bring the Japanese touch to the Web3 world with its strategic subsidiary Animoca Brands Japan, focusing on the Japanese market.
May 31, 2024Although the Shiba Inu has had a brief boom lately, things may be more complicated than they appear on the surface. The fact that whales withdrew more than 503 billion SHIB from the stock markets in the last 24 hours indicates that there may be an aggressive wave on the horizon. This movement can significantly impact future price movements of Shiba Inu by influencing supply and demand dynamics.
May 31, 2024In the cryptocurrency ecosystem, the extreme market volatility that once attracted speculator investors is decreasing. This change significantly impacts exchanges like Coinbase (COIN), which have thrived during periods of high volatility.
May 31, 2024Over $18 billion worth of cryptocurrency has been transferred to a new type of platform that offers rewards to investors in exchange for their locked tokens. This complex system causes analysts to warn that it poses risks to users and the crypto market.
May 31, 2024News of the preliminary settlement between the US Securities and Exchange Commission (SEC) and Singapore-based Terraform Labs and its founder Do Kwon shook the cryptocurrency market with a wave of excitement. While this development marks a potential end to the months-long legal battle surrounding the TerraUSD (UST) stablecoin, which suffered a major collapse in 2022, the terms of the settlement and its implications for the crypto market remain unclear.
May 31, 2024The dominant view among digital asset stakeholders is that many forms of digital money, such as central bank digital currencies (CBDCs), tokenized deposits and stablecoins, are expected to co-exist in financial markets within the next decade, according to recently published analysis by KPMG.
May 31, 2024The meme coin craze continues and Pepe, one of the most popular ones lately, is activating the market with price movements that surprise investors. Although Pepe reached its all-time high in late May and later experienced a sudden decline, the explosion in transaction volume shows that investors' interest in this coin has not decreased.
May 31, 2024In news from Austin, Texas, Ripple CEO Brad Garlinghouse said that with the approval of Bitcoin's spot ETFs and the advancement of ETFs designed to hold Ethereum's Ether (ETH), there will be more exchange investments in the cryptocurrency market. He stated that he was waiting for the fund (ETF). Garlinghouse described these developments as "a matter of time" and stated that he believes similar ETF approvals will come for other cryptocurrencies such as XRP, Solana (SOL) and Cardano (ADA). Ripple, as it is known, is closely related to the XRP cryptocurrency.
May 31, 2024