1 percent of total withholding tax not yet done: Crypto traders disappear from exchanges after July 1

“Pay 1 cent TDS In every trade is not done. Crypto is already volatile, moreover, the implementation of taxes has made it difficult for traders to put their money into cryptocurrencies.” Like Sharma, many traders stopped trading after the Indian government introduced the concept of tax deduction at source (TDS) on virtual digital assets and crypto for transactions that over 10,000 rupees. “I have withdrawn all my money from the exchanges because there is no longer any benefit from swing trading. I cannot afford to lose 1 percent on every…

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A fight looms over New York’s attempt to slow the crypto-mining boom

Written by Louis Ferre-Sadurnay, Grace Ashford, Dana Rubinstein and David Yaffe Bellani Across the country, some states are trying to entice crypto-mining companies to set up shop, offering tax incentives in hopes of creating jobs and expanding their foothold in the tech industry. In New York, lawmakers moved in a different direction: In the closing hours of its 2022 session, the state legislature last week unexpectedly passed a bill that would impose a two-year ban on new mining permits for cryptocurrency, specifically when burning fossil fuels. Factories, which some companies…

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Cryptoverse: Will You Get Old With Bitcoin?

Bitcoin, bitcoin news,

If you assumed that cryptocurrency was just a little game, think again. More people in the US than ever are turning to cryptocurrency to help fund their retirement, it seems, although the recent market carnage offers a stark reminder that this wild market is not for the faint-hearted. A survey published by KuCoin last week found that about 27% of Americans between the ages of 18 and 60 – about 50 million people – have owned or traded cryptocurrency in the past six months. However, older people are more devoted…

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Only 15 percent of cryptocurrency investors are female:

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Cryptocurrency is all the hype in 2021, a new report says, and its adoption will continue to increase among young men and women. However, women make up only a small part of this growing group. In its latest findings, Indian crypto exchange Coinswitch Kuber said that only 15 percent of its user base of 14 million Indians are women. It’s worth noting that at the beginning of the year, CoinSwitch reported just over a million users. The results came at a time when India was not yet at the table…

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