NEW DELHI: Cryptocurrencies are once again in the news as the government is reportedly looking at fine-tuning the definition of income and gains for crypto assets in the upcoming budget. The Centre has sought opinion from senior tax advisors on whether the income earned from investing in cryptocurrencies could be […]
Cryptocurrencies
The fast-growing decentralized finance (DeFi) system—the collection of finance applications built on blockchain technology—holds promise for a new financial architecture that can eliminate the need for traditional intermediaries (such as banks, brokers, and exchanges) and reduce rents (excess profits) in the financial sector. But it also generates formidable challenges for […]
Questions of which, if any, regulatory regimes apply to the variety of participants in the cryptocurrency market continue to dog the industry. On February 28, 2022, whether a cryptocurrency futures trading platform constitutes a “futures commission merchant” (“FCM”) under the Commodity Exchange Act (“CEA”) subject to Bank Secrecy Act (“BSA”) […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. What’s happening: In a new report, the Financial Stability Board — an international […]
Despite the benchmark S&P 500 more than doubling up its average annual total return in 2021, relative to the past four decades, it’s the cryptocurrency market that again stole the show. As of the time of this writing on Dec. 28, the aggregate value of all digital currencies was $2.25 […]
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Russian c.bank proposes ban on cryptocurrency use Regulator warns of risks to financial stability Analysts say wider impact negligible for now Ban on cryptocurrency exchanges also proposed MOSCOW, Jan 20 (Reuters) – Russia’s central bank on Thursday proposed banning the use and mining of cryptocurrencies on Russian territory, citing threats […]