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The Indian government reveals how cryptocurrency transactions would be taxed.

India’s ministry of finance has clarified in parliament how the government plans to tax cryptocurrency transactions. A proposed new section to the Income Tax Act states that gains from crypto transactions will be taxed at 30% while losses cannot be deducted. Indian Government Reveals Taxation Plan The Indian ministry of finance answered some questions Monday […] …

China has made crypto fundraising illegal, and violators could face jail time.

china outlaws crypto fundraising offenders could face jail sentences

Under new legal interpretation from China’s Supreme People’s Court, raising funds using cryptocurrency is deemed as an illegal activity in the country, according to South China Morning Post.
The post China outlaws crypto fundraising, offenders could face jail sentences appeared first on CryptoSlate. …

BlockFi will pay a $100 million fine to the Securities and Exchange Commission for cryptocurrency lending.

In what is set to be one of the toughest penalties against a cryptocurrency firm, details have now emerged that the foremost crypto lending platform, BlockFi, is set to pay a fine of $100 million to the Securities and Exchange Commission (SEC) of the United States government.
The post Crypto Lending: BlockFi to pay $100 million fine to SEC appeared first on CryptoSlate. Source cryptoslate.com…

An executive order on cryptocurrency may be issued soon by the Biden administration.

The Biden administration is reportedly working on an executive order emphasizing potential economic, regulatory, and national security challenges that cryptocurrencies might pose in the future.
The post Report: Biden administration may soon unveil an executive order on cryptocurrencies appeared first on CryptoSlate. Source cryptoslate.com…

UK to impose strict restrictions on misleading crypto ads

In a bid to restrict misleading ads concerning cryptocurrency, the UK Treasury on Tuesday announced its plans to regulate cryptocurrency advertisements as other financial products and ensure that the ads concerning crypto adhere to proper and ethical advertising standards to limit the spread of false information. UK’s crackdown on misleading crypto ads The UK treasury … Read moreUK to impose strict restrictions on misleading crypto ads

Sweden’s inflation rate at a 29 year high, “transitory”

Inflation is on the rise in many parts of the world. On Wednesday, The U.S. Federal Reserve reported a CPI inflation of 7.0% for December. Following this trend, the inflation rate of the Swedish krona SEK rose to 4.1% in December, a strong increase from November’s inflation rate of 3.6%. These levels of inflation have … Read moreSweden’s inflation rate at a 29 year high, “transitory”

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