Binance, WazirX Among Crypto Firms Caught Evading Taxes in India
India’s Minister of State for Finance, Pankaj Chaudhary, revealed significant tax evasion by cryptocurrency exchanges, including Binance and WazirX. Authorities have identified 824 crore rupees ($97 million) in unpaid Goods and Services Tax (GST) across 17 crypto firms, sparking multiple investigations. Recovered Taxes and Penalties The Indian government has already
Altcoin Surge Signals Market Shift as Bitcoin Rebounds Above $95,000
The cryptocurrency market is witnessing significant shifts as Bitcoin experiences a brief correction, sparking a renewed interest in altcoins. Investors are diversifying portfolios, seeking opportunities in emerging assets while Bitcoin maintains its strong market presence. Bitcoin’s Brief Dip and Recovery Bitcoin saw a slight pullback before rebounding sharply, surpassing the
MARA Holdings Plans $805M Fundraising for Bitcoin and Debt Management
MARA Holdings, Inc., a leading blockchain computing firm, has announced plans to raise $805 million through convertible senior notes due in 2031. The offering targets institutional investors, comprising $700 million in notes with an additional $105 million available to initial purchasers. The notes will not bear interest and can be
XRP Reclaims Third Spot in Crypto Rankings After Legal Triumphs
Ripple’s XRP has made a historic comeback, reclaiming its position as the third-largest cryptocurrency by market capitalisation after four years of legal battles with the US Securities and Exchange Commission (SEC). From Legal Woes to Market Recovery In December 2020, XRP’s market cap plummeted following the SEC’s lawsuit accusing Ripple
$30M DEXX Hack Linked to Over 8,600 Solana Wallets
The crypto world was shaken as blockchain security firm SlowMist revealed that over 8,620 Solana wallets were connected to the $30 million hack on memecoin trading platform DEXX. The incident, initially estimated at $21 million, has now been declared the second-largest crypto breach in November 2024, after Thala’s $25.5 million
XRP Surges as Ethereum Slips; Bitcoin Stays Steady
The cryptocurrency market continues to exhibit mixed trends, with XRP emerging as a standout performer, while Ethereum faces selling pressure and Bitcoin remains range-bound. Here’s a snapshot of the latest market movements: XRP Hits 2021 Highs XRP soared to $1.64 on Friday morning, marking its highest level since 2021. However,
Russian Lawmakers Approve Crypto Tax Bill: Miners to Pay up to 15%
Russian lawmakers have passed a landmark crypto tax bill requiring industrial Bitcoin miners to pay taxes on their revenues. The legislation, which has advanced through the State Duma and awaits approval by the Senate and President Vladimir Putin, marks a pivotal step in regulating cryptocurrency mining in the country. Tax
Bitcoin Nears $100K Amid Crypto-Friendly Leadership Speculation
Bitcoin surged toward the $100,000 milestone, reaching $97,361 on Thursday before settling at $95,640 in early Asian trading. This marks the largest price increase in two weeks, fueled by optimism over potential regulatory shifts in the U.S. Optimism Over Pro-Crypto Leaders Market sentiment turned bullish as speculation grew that crypto-friendly
Trump’s Crypto Policy: A Potential Windfall for Extremist Groups
Donald Trump’s return to the White House could reshape crypto policy, potentially benefiting not only investors but also extremist groups and terrorist organisations. His promise to loosen restrictions has raised concerns among experts about the misuse of cryptocurrencies for illicit activities. Crypto-Friendly Policies and Their Risks Trump’s pro-crypto stance includes
Tornado Cash Sanctions Overturned: TORN Token Soars 400%
A landmark US court ruling nullifying sanctions on Tornado Cash has sparked a surge in its native token, TORN, marking a pivotal moment for the crypto world. Here’s what you need to know. Sanctions Overturned by US Federal Court The US Fifth Circuit Court of Appeals has struck down the
