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Cryptocurrency News Live: Ethereum, Bitcoin Lose Steam

Cryptocurrency nonetheless stays a mystical topic for a lot of eager traders in India. Whereas cryptos are slowly gaining recognition from traders and regulators alike, with international locations and main manufacturers adopting it as an official tender, there are nonetheless a sizeable quantity of people that want to spend money on crypto, however aren’t capable of intently monitor breaking and growing information within the sector, which is able to assist them be aware of value actions, main sell-offs, and bulletins of latest blockchain-based developments. 

This reside information weblog is right here to assist. From main market losses to noteworthy declarations, observe this reside weblog to remain up to date with all the newest happenings on the planet of crypto.

Whereas there are lots of cryptocurrencies to discover, Bitcoin (BTC) is the preferred as it’s the world’s oldest and most valued crypto coin. As of October 20, Bitcoin value stood at $19,051.39, as per CoinMarketCap knowledge. On the time of writing, the worldwide crypto market cap stood at $914.59 billion, registering a dip of 1.41 p.c within the final 24 hours. 

Whereas cryptocurrency is unregulated in India, cryptocurrencies are clubbed underneath digital digital belongings (VDAs). Underneath the brand new tax regime that went into impact on April 1 this yr, VDAs entice taxation of 30 p.c on beneficial properties. A TDS of 1 p.c is utilized on prime of that. 

Disclaimer: Crypto merchandise and NFTs are unregulated and could be extremely dangerous. There could also be no regulatory recourse for any loss from such transactions. Cryptocurrency just isn’t a authorized tender and is topic to market dangers. Readers are suggested to hunt professional recommendation and browse supply doc(s) together with associated vital literature on the topic rigorously earlier than making any sort of funding in anyway. Cryptocurrency market predictions are speculative and any funding made shall be on the sole price and danger of the readers.

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