Cryptocurrency News Live: Mark Zuckerberg's Little League Baseball Card To Be Turned Into NFT
Cryptocurrency News Live: Follow this page for the latest updates on major cryptocurrency and NFT news from India and around the world.
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Background
Cryptocurrency still remains a mystical subject for many keen investors in India. While cryptos are slowly gaining recognition from investors and regulators alike, with countries and leading brands adopting it as an official tender, there are still a sizeable number of people who wish to invest in crypto, but aren't able to closely track breaking and developing news in the sector, which will help them take note of price movements, major sell-offs, and announcements of new blockchain-based developments.
This live news blog is here to help. From major market losses to noteworthy declarations, follow this live blog to stay updated with all the latest happenings in the world of crypto.
While there are many cryptocurrencies to explore, Bitcoin (BTC) is the most popular as it is the world's oldest and most valued crypto coin. As of August 5, Bitcoin price stood at $23,129.04, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $1.08 trillion, registering a gain of 0.53 percent in the past 24 hours.
While cryptocurrency is unregulated in India, cryptocurrencies are clubbed under virtual digital assets (VDAs). Under the new tax regime that went into effect on April 1 this year, VDAs attract taxation of 30 percent on gains. A TDS of 1 percent will be applied on top of that.
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.
Instagram Expands NFT Support To 100 Countries
Instagram, the Meta-owned photos and videos sharing platform, is expanding support for non-fungible tokens (NFTs) to 100 countries, after an initial test launch in the US back in May this year. Meta CEO Mark Zuckerberg announced the news on his Facebook feed, sharing that his old Little League baseball card will be converted into an NFT soon. With the NFT support, Instagram will allow users to share their digital collectibles on the platform, instantly tagging the creator and the collector.
Solana Crypto Hack Linked To Slope Mobile Wallet
The multi-million Solana crypto hack, that drained more than 8,000 wallets worth around $8 million, has been linked to accounts tied with the Slope mobile wallet app. Slope Finance said in a statement that a cohort of Slope wallets were compromised in the breach, advising users to create "a new and unique seed phrase wallet, and transfer all assets to this new wallet."
Crypto Insider Trading: Two Indian Brothers Plead Not Guilty To US Federal Charges
Ishan Wahi, 32, a former product manager at cryptocurrency platform Coinbase Global, along with his brother Nikhil Wahi, 26, have pleaded not guilty to federal charges of insider trading. The lawyer representing Ishan Wahi said that the charges against him should be "dismissed" as insider trading needs to involve securities or commodities and this case did not, according to reports.
New Personal Data Protection Bill Must Address Cross-Border Data Flow, Tax Evasion, Cryptos: Industry
Industry stakeholders on Thursday said the new framework for Personal Data Protection Bill should emphasise on cross-border data flow and data localisation requirements, bringing ransomware, Blockchain-based crypto/NFT scams, and even the huge tax evasion by Chinese tech companies into its ambit.
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Cryptocurrency Price Today: FLOW Emerges As Biggest Gainer
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to recover to above $23,000 on early Friday morning, despite dipping down to around $22,000 late on Thursday. Ethereum (ETH), the second-most valued crypto, managed to remain stable and is expected to rise above the $1,700 mark later today. Alongside, popular crypto coins such as Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC) managed to see 24-hour gains across the board. Among lesser-known altcoins, the Flow (FLOW) token emerged as the biggest gainer, along side other tokens such as Waves (WAVES) and Trust Wallet Token (TWT).
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