Warnings from Indian crypto exchanges that a controversial new transaction tax would erode trading are coming true, with volumes evaporating since the levy took effect.
Crypto tax in India: From April 1, a 30 per cent I-T plus cess and surcharges will be levied in the same manner as it treats winnings from horse races or other speculative transactions.
Tesla Buying Bitcoin May Have Put Blockchain Tech, Cryptocurrencies at a Key Junction
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Tesla buying Bitcoin by the billions has arguably been the biggest news in the crypto world of late. Even as the Indian government continues to be bearish on cryptocurrencies apart from those controlled centrally, Tesla spending $1.5 billion on Bitcoin to keep the digital currency on its sheets is the first such move by a big corporation, underlining a faint presence of Bitcoin’s everyday applications in its regular discourse. However, Tesla’s investment in Bitcoin is unusual for a publicly listed company, particularly given the most common risks of cryptocurrencies. This very unusual move may have actually put the entire blockchain and cryptography technologies at a key crossroad.