Earlier in February, Indian Finance Minister Nirmala Sitharaman announced a tax proposal that would bring the relatively unregulated digital asset space under the purview of tax authorities. The proposal includes a 30% income tax on crypto returns and a 1% tax deducted at source (TDS) by crypto exchanges on transactions above 10,000 Indian rupees ($133).…
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Cryptocurrency-themed advertising has been growing extremely popular on Telegram, with some ad firms reporting on crypto becoming the most expensive advert type on the platform in 2021. The average cost per 1,000 impressions (CPM) of crypto ads on Telegram in Russia has significantly surged in 2021, posting more than a fourfold increase, according to a…
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Bitcoin (BTC) mining generates a lot of “waste” heat. As energy prices spiral out of control in Europe, miners have come up with creative ways of recycling the heat generated by solving valid Bitcoin blocks. Whereas a miner is drying wood from a local timber mill in Norway, across the North Sea in the Netherlands, a miner…
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The United Arab Emirates is reportedly planning to issue a federal crypto license for virtual asset service providers (VASPs) by the end of the first quarter. The Securities and Commodities Authority (SCA) in UAE is reportedly in the final stages of finalizing the legislation that would allow digital asset firms to set base in the…
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Bitcoin (BTC) dipped below $43,000 on Feb. 17 as another day on ranging compounded hopes for an incoming breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Fed teases over rate hikes Data from Cointelegraph Markets Pro and TradingView showed BTC/USD acting in a slightly widened zone with $44,500 as a ceiling over the past 24 hours.…
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Charlie Munger, the ancient vice chairman of Berkshire Hathaway and Warren Buffet’s right hand man, has no issue with providing his honest thoughts on cryptocurrency: He hates it. Speaking at a shareholder’s Q&A session at the annual meeting for LA-based newspaper company, Daily Journal Corp, the 98-year-old investing icon likened crypto to a sexually transmitted…
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A bipartisan group of senators introduced legislation in the U.S. Senate which seeks to mitigate perceived risks posed by El Salvador’s adoption of Bitcoin as a legal currency. The proposed Accountability for Cryptocurrency in El Salvador Act (ACES) aims to “mitigate potential risks to the U.S. financial system” such as money laundering and terrorism funding.…
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Bitcoin miners are selling off coins from their stockpiles and shares in their companies after the profitability of mining took a dive since November. With Bitcoin (BTC) currently holding around $43,500, about 33% below the all-time high (ATH) of about $69,000 reached that month, miners are selling at a less-than-opportune time. However, electricity and equipment…
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International oil and gas giant ConocoPhilips is dipping its toes into Bitcoin (BTC) mining as a way to eliminate the wasteful practice of flaring. According to a report from CNBC, the company is currently operating a pilot scheme in the oil-rich region of Bakken, North Dakota. Instead of burning excess gas, a byproduct of oil-drilling…
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The cryptocurrency market remains in a state of flux as investors are once again focused on what steps the U.S. Federal Reserve might take to combat rising inflation and markets wobble as the situation in Ukraine remains tense. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has hovered around…
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