Cryptocurrency News Live: Ethereum Merge Is Now Complete
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 September 15, Bitcoin price stood at $20,042.63, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $986.57 billion, registering a dip of 1.12 percent 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.
Ethereum Merge Has Officially Taken Place
Ethereum Merge, the most-awaited crypto event this year, has finally taken place. Ethereum co-founder Vitalik Buterin confirmed the news on Twitter on September 15. After months of speculations and waiting, the Ethereum network has finally switched over from a proof-of-work (PoW) model to a proof-of-stake (PoS) system. Among other things, this will bring a 99 percent reduction in energy consumption on the Ethereum network, marking a valuable step forward toward a green blockchain.
South Korea Issues Arrest Warrant For Terra Co-Founder Do Kwon
Do Kwon, the founder of Terra blockchain creator Terraform Labs, faces an arrest warrant issued by South Korean authorities. The two primary crypto coins of the Terra network — LUNA and TerraUSD — saw a massive crash in May this year, leading to an unprecedented bloodbath in the crypto market, wiping out nearly $40 billion of investors’ money in a matter of days. The crash led to investors accusing Kwon of fraud, which has now led to the issuance of an arrest warrant.
Cryptocurrency Price Today: Bitcoin Fails To Show Signs Of Recovery
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, failed to see gains and stood close to the $20,000 mark early Thursday morning. It appears that the effects of the US inflation data still have a strong hold over the prices of leading crypto coins. Ethereum (ETH) too, failed to impress in terms of gains, as its Merge is expected to take place today. Other popular altcoins, including the likes of Dogecoin (DOGE), Solana (SOL), and Litecoin (LTC), found themselves in the reds. The Terra (LUNA) token saw a drastic dip of nearly 35 percent following the news of Terra co-founder Do Kwon facing an arrest warrant in South Korea.
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