Author Archives: Darren Marchal

US Treasury Secretary calls for crypto regulation to reduce risks

Treasury Secretary Janet Yellen says more government regulation is needed to police the proliferation of cryptocurrency and other digital assets and to ward off fraudulent and illicit transactions. In practice, one result would be that users would get documentation of their crypto dealings for use in filing their taxes. Taxpayers should receive the same type…

Crypto platform Leap raises $3.2 mn in funding from CoinFund, Pan

Crypto platform Leap has raised $3.2 million in a funding round co-led by blockchain-focused investment firm CoinFund and Pantera Capital. The private share sale also saw participation from Arrington Capital, Accel and Terraform Labs. Leap is a non-custodial Terra wallet offering access to dApps, staking, DeFi, NFTs, and more on one platform. The company said…

Top headlines: Income in US on I-T radar, Sri Lanka cabinet resig

The Central Board of Direct Taxes (CBDT) has rolled out an aggressive target and timeline to investigate tax evasion matters, especially those involving undisclosed foreign assets. The Cabinet in Sri Lanka has resigned succumbing to pressure from protests over the country’s economic crisis. Scroll further down for more on these and other top stories this…

The 1% tax that has India’s cryptocurrency industry predict

When India’s government unveiled a plan to tax crypto assets in February, it was the 30% rate on income from digital-asset investments that grabbed headlines. But it’s a different levy that has the industry warning of a potentially destabilizing liquidity crunch. Along with the capital gains charge, the finance ministry announced a 1% tax deductible…