Cryptocurrency News Live: Top Coins Fail To Impress
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 October 21, Bitcoin price stood at $19,056.19, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $914.87 billion, registering no change in the last 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 is 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.
Sachin Tendulkar, Virat Kohli, MS Dhoni Jump Onto NFT Bandwagon
Non-fungible tokens, or NFTs, have gained immense popularity over the past couple of years as a great way to monetise your content. So much so that leading artists and celebrities from around the world are increasingly jumping on to the NFT bandwagon with their own series of limited-edition digital collectibles. Among Indian cricketers, the likes of Yuvraj Singh, Suni Gavaskar, and Dinesh Karthik have already released their own NFT collections. Now, it appears that Sachin Tendulkar, Virat Kohli, and MS Dhoni have joined the NFT team.
Crypto 'Mixer' Sued By US Financial Regulator To Recover $60 Million Penalty
The US Justice Department earlier this week sued Larry Harmon, founder of a cryptocurrency “mixer” to recover a $60 million civil penalty that was imposed on him in 2020 by FinCEN, a US financial regulator, for alleged failures to maintain an effective anti-money laundering programme. The lawsuit filed in Washington DC federal court against Harmon is about a cryptocurrency “mixer”, or “tumbler” called Helix. The US authorities said that the anonymizing service could send virtual currency in a way that concealed the source or owner.
Kolkata Fraud Gaming App Case: ED Freezes Bitcoins Worth Rs 1.65 Crores
The Enforcement Directorate has frozen Rs 7.12 crore worth of Bitcoins and seized Rs 1.65 crore in cash as part of an ongoing money laundering investigation against the promoter of a Kolkata-based mobile gaming app that is alleged to have duped many people. The action has been taken against the app called E-Nuggets and its promoter Amir Khan.
Click here to read the full report.
Cryptocurrency Price Today: Toncoin Becomes Top Gainer
Bitcoin (BTC) and Ethereum (ETH), the two most valued cryptocurrencies, failed to gain steam on Friday morning, registering minor movements over the last 24 hours. Other popular altcoins — including the likes of Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) — saw a mixed bag of minor gains and losses across the board. Among lesser-known altcoins, the Toncoin (TON) token emerged to be the biggest gainer in the last 24 hours, with a gain of nearly 10 percent. Ethereum Name Service (ENS), on the other hand, turned out to be the biggest loser.
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