Professionals have a major piece of advice for those who traded cryptocurrency for the first time last year: Take your tax prep seriously. The IRS has been zooming in on cryptocurrency reporting with increasing interest in recent years. And the last thing you want is to lose money and time reconciling your tax liability, says…
The controversial cryptocurrency project that Mark Zuckerberg once defended in front of Congress is unraveling after regulatory pressure. The Diem Association, a cryptocurrency initiative once known as Libra backed by Meta Platforms, is weighing a sale of its assets as a way to return capital to its investor members, according to people familiar with the…
Facing regulatory hurdles, Meta (formerly Facebook) is reportedly winding up its ambitious yet controversial cryptocurrency project that its CEO Mark Zuckerberg once defended in front of the US Congress. Originally launched as Libra and later renamed as the Diem Association, the cryptocurrency initiative “is weighing a sale of its assets as a way to return…
Bitcoin is growing up. The original cryptocurrency turns 13 this year and is showing signs of becoming a more mature financial asset – but watch out for the teenage tantrums. This drift towards the mainstream, driven by the big bets of institutional investors, has seen Bitcoin become sensitive to interest rates and fuelled a sell-off…
World’s largest cryptocurrency exchange Binance on Monday launched its first ever Indian NFT collection inspired by Indian mythology and Southeast Asian, Japanese and Chinese folklore. The Indian NFT Collection, MetaMasters, whose unique selling proposition is bringing good fortune ‘888 times more money, wealth & profits for its collectors’ will be available for the 30 million…
The selling pressure in the global crypto market eased Monday after massive declines across digital tokens last week. Bitcoin, the largest cryptocurrency by market value, traded at about $35,350 as of 12:05 p.m. in Singapore. It touched a low of $34,042.77 over the weekend, a loss of more than 50% from its all-time high in…
By Tom Wilson and Medha Singh LONDON (Reuters) -Bitcoin tumbled over 7% on Monday to its lowest in six months, as fears of a Russian attack on Ukraine saw riskier assets worldwide extend their selloff. The largest cryptocurrency trading down 7.4% at $33,650, its lowest since July 24, taking losses from its all-time high of…
A Delhi resident’s cryptocurrency worth Rs 30 lakh (current value Rs 4.5 crore) was fraudulently transferred to three different foreign accounts of which one belonged to Al-QassamBrigates, a military wing of the Palestinian organisation, Hamas. “The complainant had reported that some unknown persons had fraudulently transferred his Bitcoins, Etherum and Bitcoin cash, worth Rs 30,85,845…
After several users complained about issues with logging back to their accounts on Crypto.com after the platform was hit by a $34 million hack, its CEO Kris Marszalek has been forced to respond on social media how best they can get back their accounts. Thousands of people took to social media to complain that they…
A pre-Budget expectations survey on Saturday showed a growing demand for increasing regulatory focus on the cryptocurrency sector. As per the Grant Thornton Bharat survey, nearly 79 per cent of the respondents feel that Budget FY23 should focus on regulating cryptocurrencies and NFTs. Besides, more than 75 per cent of the respondents feel that the…
