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ZhongAn, a Chinese insurance giant that provides infrastructure to 10 local insurers, stated that it has recently partnered with more than 100 hospitals to utilise blockchain technology in securely processing patient data and financial information.
cryptoworld.news/2018/06/01/tencent-alibabas-insurance-gi...
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Facebook founder Mark Zuckerberg, stated his intention early this year to study decentralized technologies, specifically cryptocurrencies, as a part of his pledge, David Marcus will be leaving his leadership role at Messenger to oversee a new Facebook team focused on blockchain technology.
cryptoworld.news/2018/05/09/facebook-taps-coinbase-board-...
Bitcoin Poses Danger to U.S. Elections, Reported to Scott dueweke, a cybersecurity professional and therefore the president of the identity and payments association (idpay), virtual currencies are the proper tool to be used by state actors and foreign parties seeking to influence the political method within U.S.
cryptoworld.news/2018/06/29/researcher-tells-congress-bit...
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Intel is exploring the creation of specialty hardware for mining the popular cryptocurrency Bitcoin, according to a U.S. patent application released Thursday. The patent, filed on Sept. 23, 2016, describes a Bitcoin mining hardware accelerator that may include a processor core with a hardware accelerator coupled with it. cryptoworld.news/2018/04/01/intel-files-patent-energy-eff...
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On Tuesday, a director of a leading think tank stood before the British Parliament’s Treasury Select Committee and called out blockchain technology as “magic wand, pixie-dust things” that is a “fad” and “a distraction from looking at getting some of the basics rights” in the banking industry.
cryptoworld.news/2018/05/04/pixie-dust-anti-crypto-expert...
Millions of bitcoin are permanently lost from its immutable blockchain network because of cases like the loss of funds of Howells. A study done by Chainalysis, a blockchain-focused digital forensics company, found that 3.79 million BTC are potentially lost permanently and can no longer be re-obtained.
cryptoworld.news/2018/05/28/cryptocurrency-investor-lost-...
The Crypto World News is here with another Bitcoin news of “Two more bitcoin cash mining pools have proclaimed they're going to support the “miner’s choice” initiative, that urges miners to get rid of the dirt limit and start to process a group variety of zero-fee transactions.”
cryptoworld.news/2018/06/08/zero-fee-transactions-second-...
Cryptocurrency is no longer banned in India! From ‘Banning Cryptocurrency’ in 2019 to ‘Introducing Cryptocurrency Regulation Bill’ in 2021, Indian government’s stand on cryptocurrency has witnessed a massive shift in the last 4 years. Earlier, the government was against selling, mining or receiving cryptocurrencies and totally prohibited banks from supporting crypto transactions.
Now, Indian government has introduced a bill to regulate cryptocurrency transactions in the country. Called as ‘The Cryptocurrency and Regulation of Official Digital Currency Bill’, it lists certain rules and regulations on cryptocurrency transactions. The government is now open to experiment the crypto market and allow cryptocurrency transactions.
“The whole idea of Indian government is to ‘regulate’ cryptocurrency transactions, and not ban them”
RBI’s Stand On Cryptocurrency
While the Indian government wants to regulate crypto transactions, the Reserve Bank of India is completely against cryptocurrencies, as it sees them as a threat that has the potential to cause financial instability. This is because cryptocurrencies foster financial freedom and do not have a central regulatory system like banks.
With the increasing popularity of cryptocurrencies like Bitcoin and Ethereum, RBI has its own plans to introduce an official digital currency in the near future. Finance Minister Nirmala Sitharaman has announced in her recent budget speech that RBI will introduce a blockchain based Central Bank Digital Currency (CBDC) by 2023. If CBDC becomes a reality, it will be set a massive crypto storm in India.
Cryptocurrency Tax Regime
Indian government has recently announced a tax regime for cryptocurrency transactions. Flat 30 per cent tax should be paid be people who gain income from their crypto or virtual digital assets (VDAs). Cryptocurrencies and NFTs fall under these. Even in case of losses, the tax amount has to be paid. When it comes to digital / virtual gifts, the recipient of the gift will be taxed.
The announcement of the tax regime comes in wake of the increasing frequency of crypto transactions. The tax regime has no negative effects on the cryptocurrency prices in the market.
Tax regime is imposed only on cryptocurrencies and NFTs. They will not affect digital payments like Google Pay, Paytm or Amazon Pay. One must not confuse between crypto transactions and digital payments.
Who Will Be Impacted By India’s New Crypto Tax Regime?
The new tax law will have a major impact on
• The buyers and sellers of cryptocurrencies, who engage in crypto trade in crypto exchanges such as CoinDCX, WazirX, Kuber match and more will be taxed.
• Not just the buyers and sellers, even the crypto exchanges in India who indulge in transactions to get supplies of cryptocurrencies from other countries to sell domestically will be taxed. Their profits and revenue will be impacted.
• People who buy cryptocurrencies from Indian exchanges will have to pay the 1% TDS.
• People who own NFTs and virtual assets or gifts will be taxed.
• In-app purchases and reward points offered by apps and social media organizations will be impacted by the crypto tax regime.
• There are also chances for dating, gaming and social media apps to be taxed 1% TDS as they come under virtual digital assets, according to the government.
To conclude, as of now, Indian government has made up its mind to support and regulate crypto trade and transactions. The government has future plans to introduce their own RBI-backed cryptocurrency. Despite the recent announcement of the crypto tax law, traders and businessmen involved in crypto trade seek more clarity from the government on the taxing process. India does not involve in mining of cryptocurrencies, therefore it has to buy them from outside the country, being subjected to the crypto tax law.
Mohammed Danish is a lawyer who practising at High Court of Delhi, explains how interest of the crypto investor is protected under Indian law despite absence of any crypto regulatory regime.
cryptoworld.news/2018/04/30/indian-law-protects-cryptocur...
LocalBitcoins trader Theresa Lynn Tetley, better known as the “Bitcoin Maven,” has been sentenced to 12 months and a day in prison, a $20,000 fine, and three years supervision after release for laundering bitcoin as proceeds of narcotics sales and for her role in running an illegal bitcoin-for-cash exchange, according to the U.S. Attorney’s Office for the Central District of California. cryptoworld.news/2018/07/16/bitcoin-maven-jailed-for-mone...
In March 25, the cryptocurrency market has struggled to rebound to the $350 billion region. Apart from some small cryptocurrencies like Ontology and Ethos, most cryptocurrencies like bitcoin have recorded a slight decline in value. cryptoworld.news/2018/03/25/cryptocurrency-market-slump-e...
The integration of Ethereum Classic (ETC), the Coinbase team told its users and investors that the mid-term strategy of the corporate is to eventually support the complete ERC-20 token normal of Ethereum, as well as initial coin providing (ICO) tokens and independent blockchain projects.
cryptoworld.news/2018/06/21/coinbases-help-ethereum-testn...
Cryptoworld.news provide you latest cryptocurrency news, Here you find complete information about comexcoin, bitcoin wallet, bitcoin mining, bitcoin, bitcoin exchange, bitcoin price.
The coin has conjointly appeared recently within the news for its use in crypto-jacking malware. Lastly, speculation has swirled that bitmain has drop larch amounts of xmr coins as the return for the project’s efforts to disable ASIC miners from exploitation the blockchain. cryptoworld.news/2018/06/26/bitcoin-cost-leads-recovery-m...
Bitcoin is mathematically defined, there is a certain quantity of bitcoin, there’s a way it’s distributed… and it’s pure and there’s no human running, there’s no company running and it’s just… growing and growing… and surviving,”
cryptoworld.news/2018/06/05/bitcoin-worlds-single-currenc...
Vilnius-based Coingate, cryptocurrency payment gateway for European merchants, is teaming with Paris-based Prestashop, an open source ecommerce solution. The combination means more choices for cryptocurrency enthusiasts and might encourage an increase in adoption.
cryptoworld.news/2018/03/28/80000-new-merchants-europe-ga...
Bitcoin is a way to for investors to basically move their money off the balance sheets of banks and into their own wallets,” he added. “Essentially storing their money under their pillow in the form of virtual currency.
cryptoworld.news/2018/05/31/bitcoin-price-may-fear-gauge-...
Bitcoin Price Reach $64,000 in 2019 Analysis By Fundstrat, The study conducted by Wall Street strategy firm Fundstrat Global Advisors, argues that that the ratio between the bitcoin price and miners’ breakeven cost
cryptoworld.news/2018/05/10/bitcoin-price-reach-64000-201...
Bitcoin may finally be coming to Amazon, though not in the way that most users have anticipated. According to documents filed with the US Patent and Trademark Office (USPTO),
cryptoworld.news/2018/04/18/amazon-thinks-data-marketplac...
Cryptocurrency derivatives exchange LedgerX has launched the first bitcoin savings account regulated by the Commodity Futures Trading Commission (SEC). The new product, unveiled by the New York City-based firm on Tuesday,
cryptoworld.news/2018/05/16/derivatives-exchange-ledgerx-...
A survey found that 80% of companies have an interest in using cryptocurrency for transactions.
cryptoworld.news/2018/03/10/80-companies-interested-bitco...
Cryptocurrency and blockchain associations from Russia, China and South Korea plan to file a class action against internet corporations banning crypto ads.
cryptoworld.news/2018/03/27/russian-chinese-korean-associ...
The bitcoin price has been on a decline since January, and analysts believe the mid-term correction of bitcoin was caused by the massive sell-off by Fortress and Mt
cryptoworld.news/2018/04/11/large-retail-investors-see-op...
Bitcoin price dove below $7,900 on Tuesday after the New York Attorney General’s office announced that it had opened an inquiry into the cryptocurrency exchange industry.
cryptoworld.news/2018/04/17/bitcoin-price-dives-7900-new-...
Recently-launched probe into allegations of bitcoin price manipulation will contribute to the long-term health of the cryptocurrency market.
cryptoworld.news/2018/05/25/dojs-bitcoin-price-manipulati...
After dipping below $6,500, the price of bitcoin has increased 7 percent to $7,100, as the rest of the cryptocurrency market recovered over the past 24 hours. Since March 30, the valuation of the cryptocurrency market rose from $250 billion to $268 billion, by around 8 percent
cryptoworld.news/2018/03/31/bitcoin-records-7-increase-cr...
The IT subsidiary of electronics giant LG has launched its enterprise blockchain platform that can be applied in a number of sectors including finance and manufacturing. Dubbed ‘Monachain’ by LG CNS, the in-house enterprise blockchain platform will reportedly focus its applicability in digital authentication, digital supply chain management, and digital currency, according to a Korea Times report.
cryptoworld.news/2018/05/14/lg-subsidiary-launches-enterp...
Today $140 Million Bitcoin Moved from Mt.Gox Wallet, Approx 16,000 BTC associated with infamous, and now defunct Bitcoin exchange Mt. Gox were moved on Thursday, cryptoworld.news/2018/04/26/today-140-million-bitcoin-mov...
Over the past 48 hours, after demonstrating a highly volatile week, the cryptocurrency market has remained stable in the $350 billion region
cryptoworld.news/2018/03/22/cryptocurrency-market-remains...
ICICI, country’s second-largest private bank, both domestic and international trade finance transactions on its ‘custom-made’ blockchain platform.
cryptoworld.news/2018/04/19/250-corporates-join-icicis-tr...
Italian bonds are going bust, and the negativity has spilled over into stocks as well. But as the global financial markets are reeling, bitcoin is finally beginning to see the light of day again, cryptoworld.news/2018/05/30/italys-economic-pain-bitcoin-...
Regardless of the precipitous fall, analysts have remained optimistic in the main as a result of Mt. Gox liquidation is regarding for 2018, and also the impending launch of Coinbase custody which is foreseen to draw institutional traders to the cryptocurrency marketplaces.
cryptoworld.news/2018/06/25/crypto-week-bitcoin-cost-drop...
Digital asset trading platform CoinRecoil’s writ has been admitted by the High Court of Delhi with the announcement of a hearing on May 24.
cryptoworld.news/2018/04/22/indian-court-admits-crypto-ex...
Crypto Startup, According to native news outlet Portal do #Bitcoin, the president of Atlético-PR’s thoughtful Council, Mario Celso Petraglia, disclosed the partnership on, saying it as an innovation in Brazil’s sports market. Two Brazilian football teams, Atlético-PR and Corinthians, cryptoworld.news/2018/07/04/crypto-startup-inoovi-partner... cryptoworld.news/2018/07/04/crypto-startup-inoovi-partner...
Tokens Struggle, Cryptocurrency Market Loses $42 Billion in three Days, from $412 billion to $370 billion. The daily trading volume of the market also declined by around $3 billion, from $22 billion to $19 billion.
cryptoworld.news/2018/05/19/cryptocurrency-market-loses-4...
Ted Rogers, the president at Xapo, a widely utilized cryptocurrency wallet and vault, has revealed that the platform has activated Segregated Witness (SegWit), the scaling solution developed by the Bitcoin Core development team.
cryptoworld.news/2018/05/26/bitcoin-wallet-xapo-implement...
According to regional news outlet Business Standard, Flintstone Technologies Private Limited — operator of cryptocurrency trading and storage platform MoneyTrade Coin.
cryptoworld.news/2018/05/07/another-crypto-firm-challenge...
Manufacturing has so fallen behind in the understanding blockchain, however, they’re a lot of quicker to maneuver after they begin. several foreseen that finance would be among the primary innovators in the blockchain.
cryptoworld.news/2018/06/19/energetic-blockchain-initiati...
Bitcoin had briefly peaked above $8,600 on Monday, giving investors a false hope that it would make a run back toward $9,000.
cryptoworld.news/2018/05/23/newsflash-bears-push-bitcoin-...
Bitcoin is mathematically defined, there is a certain quantity of bitcoin, there’s a way it’s distributed… and it’s pure and there’s no human running, there’s no company running and it’s just… growing and growing… and surviving,”
cryptoworld.news/2018/06/05/bitcoin-worlds-single-currenc...
35% Augur Surges, Low Quantity Of #Bitcoin Could Result In Quick-Time Period Drop cryptoworld.news/2018/07/23/35-augur-surges-low-quantity-...
The Federal Reserve Bank of San Francisco released a report on May 18 discussing the volatility of the bitcoin price and its impact on the ways bitcoin should be classified, whether as a currency, security, or commodity.
cryptoworld.news/2018/05/24/bitcoin-price-hypothetical-va...
NBC Los Angeles claims fifty-year-old Theresa Tetley created a minimum of $300,000 a year commerce on the platform, with a group action volume of $6 million to $9.5 Million between 2014 and 2017. A Los Angeles trader on Local Bitcoins who goes by the name “Bitcoin Maven” is facing up to thirty months in jail for running an criminal cash sending business.
cryptoworld.news/2018/06/12/faces-jail-time-localbitcoins...
Thailand’s former finance minister has joined the growing chorus of supporters of proposals that the SEC should comprise the regulator for all forms of digital assets.
cryptoworld.news/2018/03/12/former-thai-finance-minister-...
The national currency of Iran, the rial, is predicted to lose a minimum of 57 % of its worth by the top of 2018 amidst a correction worse than that of bitcoin, and also the holders of the rial are same to lose quite half of their savings keep in rescript. cryptoworld.news/2018/06/30/rial-holders-will-lose-57-val...