Cryptocurrency News Live: BTC, ETH, More Coins Face Bloodbath
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 28, Bitcoin price stood at $18,765.63, as per CoinMarketCap data. At the time of writing, the global crypto market cap stood at $915.02 billion, registering a dip of 5.52 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.
Terraform Founder Do Kwon Faces Red Notice From Interpol
Do Kwon, founder and CEO of Terraform Labs that wiped out investors' money worth $40 billion, is now wanted by Interpol which has issued a red notice for him. South Korean prosecutors have requested Interpol's assistance to trace the whereabouts of Kwon, the wanted founder of Terraform Labs accused of fraud following the massive collapse of the firm's cryptocurrencies earlier this year.
Nexo Sued By US Firms For Lying To Crypto Investors
Cryptocurrency platform Nexo has been sued by New York, California and six other state regulators for failing to register with the state as securities and commodities brokers or dealers and lying to investors about their registration status. New York Attorney General Letitia James said in a statement that despite warnings from the Office of the Attorney General (OAG) to register as a securities and commodities broker or dealer, Nexo failed to register and misrepresented to investors that they are a licensed and registered platform.
Kolkata Fraud Gaming App Case: Rs 14.53 Crore Seized From Crypto Wallet Of Prime Accused
The Kolkata Police have seized Rs 14.53 crore from a cryptocurrency wallet of Amir Khan, the prime accused in duping several people through a mobile gaming app E-Nuggets.
This amount is in addition to the Rs 17.32 crore worth of cash recovered by the Enforcement Directorate (ED) from the residence of Amir Khan's father, Naser Khan, at Shahi Astabal Lane in Garden Reach area in Kolkata on September 10. Binance has been identified as the platform of the cryptocurrency wallet of Amir Khan where Rs 14.53 crore were deposited.
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Cryptocurrency Price Today: Ethereum Falls Below $1,300 Mark
Bitcoin (BTC), the world’s most valued crypto coin, dipped below the $19,000 mark early Wednesday morning after briefly rising above it a day earlier. Ethereum (ETH), continues to see a bear run as its price dipped below the $1,300 mark on September 28. The month of September is turning out to be a depressing one for investors, as overall crypto prices have seen a massive tumble due to US Fed interest rate hikes and other global macroeconomic factors. Other popular altcoins, including the likes of Dogecoin (DOGE), Solana (SOL), and Ripple (XRP), landed in the reds across the board.
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