Cryptocurrency News Live: Bitcoin Price Dips Below $20,000 Yet Again
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 June 30, Bitcoin price stood at $20,002.80, as per CoinMarketCap data. At the time of writing, the global market cap of the crypto market stood at $892.45 billion, registering a 2.09 percent dip 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. Starting July 1, 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.
TikTok Star Khaby Lame Tapped By Binance As Brand Ambassador
Binance, the world’s largest crypto exchange in terms of daily trading volume, has signed TikTok star Khaby Lame as a brand ambassador. With over 144.9 million followers as of June 30, the Senegalese creator is the most followed personality on TikTok. He is known for hilarious gags that end with his unimpressed facial expression, marked by his now-iconic hand gesture. The news comes nearly a week after Binance partnered with Manchester United striker Cristiano Ronaldo to launch his own NFT collection.
Three Arrows Capital Crypto Firm Liquidated By British Virgin Islands Court: Report
Three Arrows Capital, popularly known as 3AC, has reportedly been formally liquidated by the order of a British Virgin Islands court. Based in Singapore, Three Arrows Capital is among the leading crypto investors who ran into difficult times owing to a sharp sell-off that’s affecting the overall cryptocurrency market over the past few weeks. Bitcoin (BTC), the world’s oldest and most valued crypto coin, dipped below the $20,000 mark yet again on June 30, dragging down the prices of most other major altcoins.
EU Makes It Difficult For Criminals To Use Cryptocurrencies For Money Laundering: Here's How
The European Union has reached a provisional agreement on transparency of crypto-asset transfers, making it more difficult for criminals to use cryptocurrencies for money laundering. Negotiators from the Council presidency and the European Parliament reached the pact on the proposal updating the rules on information accompanying the transfers of funds, by extending the scope of those rules to transfers of crypto assets.
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Bitcoin Price Dips Below $20,000 Yet Again, Majority Altcoins Drag Down Alongside
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, dipped below the $20,000 mark on June 30. Earlier this month, BTC dipped below the $18,000 mark, consequently bringing down prices of all major altcoins, including the likes of Ethereum (ETH), Dogecoin (DOGE), and Solana (SOL). While Bitcoin showed some signs of recovery in the last couple weeks, it has again dipped below the comfortable threshold of $20,000. The global crypto market cap is also currently struggling to rise above the $1 trillion mark.
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eBay To Foray Into NFTs, Files Trademark Applications For Wide Range Of Services
NFTs, or non-fungible tokens, are increasingly gaining popularity among investors and companies alike. Several leading brands have already forayed into NFTs, including the likes of Adidas, Coca-Cola, Lamborghini, McDonald’s, Nike, and Ray-Ban. Now it appears that the popular e-commerce platform eBay is also jumping onto the NFT bandwagon. Earlier this month, eBay filed trademark applications with the United States Patent and Trademark Office (USPTO) indicating plans to explore NFT, NFT exchanges, and NFT trading. It may also launch online stores that will sell virtual goods alongside “actual” products.
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