Cryptocurrency in India – Your NFTs and Cryptocurrencies Just Got More Expensive!

In an unexpected announcement, India stated that it plans to introduce its digital currency next year and tax cryptocurrencies and NFTs. According to Nirmala Sitharaman, the country’s finance minister, any income generated from the transfer of virtual assets will be taxed at 30%. She also suggested that a 1% tax deduction should be made on…

Ripple’s XRP vs SEC

Speaking of Banker coins, Ripple recently announced that it will be developing a side chain for XRP that leverages the Ethereum virtual machine or EVM for smart contracts. In case you haven’t noticed EVM support has sent many Ethereum competitors to the Moon in the past including Harmony and Phantom XRP. Having an EVM sidechain…

Chain Link partnership with SWIFT

Anyways another crypto project that’s been making the headlines lately is Chain Link which recently partnered with Swift. For context Swift is a messaging system used by over 11 000 banks around the world, this means that Swift is basically the backbone of the existing Financial system. Chain Link’s partnership with Swift will see the…

What Crypto Investors Need to Know About Tornado Cash Sanctions

The U.S. Department of the Treasury’s Office of Foreign Assets Control, or OFAC, sanctioned Tornado Cash in August 2022 after it reportedly processed over $500 million from several online hacks and heists. Mixing services like Tornado Cash blend cryptocurrency funds together to make their sources harder to trace — facilitating money laundering activities associated with…

How to Make Cryptocurrency a Part of Your Portfolio

Cryptocurrencies and digital assets have become increasingly popular since the debut of Bitcoin in 2009. In reality, a recent poll revealed that 21% of American adults own cryptocurrency, which is expected to rise in the next year. Created by the pseudonymous developer Satoshi Nakamoto, Bitcoin (BTC) is one of the most popular cryptocurrencies. Its total…

Week’s market analysis – how the stablecoins can help?

Even with all its flaws the crypto industry is still exponentially more honest and moral than central banking whose fiat currency systems have been the root causes of unquantifiable pain and suffering since they were first established in the 1600s starting with the bank of Amsterdam. This is because being able to print money out…

Why Governments Are Wary of Bitcoin

Since its debut in a 2008 whitepaper, Bitcoin (BTCUSD) has generated a lot of attention and news. The cryptocurrency’s supporters see it as the dawning of a new and just monetary system. Critics highlight the crypto’s involvement in criminal activities and the lack of legal standing as evidence that it is “rat poison squared.” The…