Cryptocurrency News Live: Bitcoin, Ethereum, Majority Altcoins Register Minor Losses

Cryptocurrency News Live: Follow this page for the latest updates on major cryptocurrency and NFT news from India and around the world.

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 July 27, Bitcoin price stood at $21,070.81, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $970.53 billion, registering a dip of 0.34 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.

17:33 PM (IST)  •  27 Jul 2022

Kraken Crypto Exchange Being Investigated For Potential Violation Of US Sanctions: Report

Kraken is reportedly facing a federal investigation for potential violation of US sanctions by allowing users in Iran and other countries buy and sell digital tokens. As per a report by The New York Times, US Treasury Department's Office of Foreign Assets Control has been investigating Kraken since 2019 and is expected to impose a fine.

12:17 PM (IST)  •  27 Jul 2022

Nightmare Waiting For Crypto Industry: Mark Cuban On US SEC Regulations

Mark Cuban, the billionaire investor and ‘Shark Tank’ star, tweeted that the US Securities and Exchange Commission (SEC) will come up with regulations that will pose a ‘nightmare’ for the crypto industry. Cuban has always been a strong supporter of crypto. The SEC recently brought insider trading charges against a former product manager at Coinbase, which led to Cuban’s recent comment.

Click here to read the full story.

10:02 AM (IST)  •  27 Jul 2022

Cryptocurrency Price Today: TerraClassicUSD Becomes Top Gainer

Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, failed to rise above the $22,000 mark over the past 24 hours. On early Wednesday morning, BTC was priced at $21,070.81. Most other popular altcoins, including the likes of Ethereum (ETH), Ripple (XRP), and Solana (SOL), also suffered minor losses. On the other hand, the TerraClassicUSD (USTC) token managed to become the top gainer over the past 24 hours, while the Convex Finance (CVX) token turned out to be the biggest loser.

Click here to read the full story.