Tag: step
Aave to Move Forward in Brazil’s Central Bank Innovation Challenge
Nischal Shetty Appeals Indian Govt to Rethink Proposed Crypto Tax
Nischal Shetty, founder and CEO of the popular Indian crypto exchange WazirX, has appealed to the government to re-examine the proposed crypto tax law to build a favorable crypto ecosystem in the country. Does India’s Crypto Tax Need More Work? In a recent Twitter thread posted today, the CEO of WazirX, Nischal Shetty has appealed to the Indian government on implementing favorable laws for the next generation of crypto enthusiasts who are building and contributing to the upcoming blockchain and cryptocurrency ecosystem. Shetty believes that the proposed crypto tax should be at par with India’s highest population between the ages of 18-25 who are into crypto but not under the taxable income bracket. Concerning the TDS, Nischal feels that a 1% slab will make it virtually impossible for day traders, or high-frequency traders as investors could get their entire capital locked in it if they trade for only a few hundred times. Government has also extra work of refunding all such TDS as well, according to him. The WazirX Boss further pointed out the latest tax rules could even encourage “brain drain” as the lack of clarity makes it difficult for law enforcement as well as entrepreneurs to function effectively. Day 32 India needs to implement favourable laws for Crypto entrepreneurs & investors We risk losing #BUIDL talent & future gains from Crypto Issues: 1) 30% income tax irrespective of income slab2) 1% TDS on every trade 3) No clarity for crypto entrepreneurs#BuildForCrypto — Nischal (Shardeum) ⚡️ (@NischalShetty) March 5, 2022 30% Crypto Tax Bracket Highest in the Country Earlier in February, Indian Finance Minister Nirmala Sitharaman announced a crypto tax proposal of 30% on gains made from crypto tradings from April 1. The proposal also includes a 1% tax deducted at source (TDS) by crypto exchanges on transactions above 10,000 Indian rupees ($133). Reportedly, the 30% crypto tax bracket is the highest in the country and nearly double the corporate tax rate of 16%. The announcement saw a mixed reaction from the Indian crypto community with some calling it a welcome step towards recognizing the unregulated crypto market, while others called it regressive.
The post Nischal Shetty Appeals Indian Govt to Rethink Proposed Crypto Tax appeared first on Cryptoknowmics-Crypto News and Media Platform.
Breaking: U.S. State Virginia Will Allow Banks To Offer Crypto Custody Services
Virginia’s Senate on Friday unanimously approved a bill that will allow banks in the state to provide crypto custody services, granted they have enough resources to manage the associated risk. The bill will go into effect once it is signed by Governor of Virginia Glenn Youngkin. The bill effectively allows banks to be able to
The post Breaking: U.S. State Virginia Will Allow Banks To Offer Crypto Custody Services appeared first on CoinGape.
Ethereum Price Prediction: ETH/USD Heads to $2700 Resistance
FairySwap DEX Launches on Mainnet
How Push Notifications Can Make Customer Engagement Better
WordPress push notifications is a treasured marketing tool that has helped companies to spread awareness about their services in e-commerce. It is a crucial step to invest in the accurate push notifications that are built according to your website requirements. You can’t progress without push notification services in today’s competitive world. People change their minds […]
The post How Push Notifications Can Make Customer Engagement Better appeared first on AiiotTalk - Artificial Intelligence | Robotics | Technology.
Coinbase CEO says Russian oligarchs won’t use crypto to evade sanctions
Russia, sanctions, crypto– yes, three words that have this week informed one of the…
The post Coinbase CEO says Russian oligarchs won’t use crypto to evade sanctions appeared first on Coin Journal.
Bitcoin Is Not Democratic Part Three: The Separation Of Economy And Politics
CVS Files for NFT-related Trademarks in the Metaverse
The US-based drugstore chain joins large retailers Nike and Walmart in filing for metaverse-related trademarks
The post CVS Files for NFT-related Trademarks in the Metaverse appeared first on Blockworks.
How to get hired at Coinbase
Gym Network To Offer Defi People All-Inclusive Metaverse—Merging Recreation With Earning Money
Lugano, Switzerland takes leaf out of El Salvador’s book
When El Salvador became the first country to adopt Bitcoin as legal tender in…
The post Lugano, Switzerland takes leaf out of El Salvador’s book appeared first on Coin Journal.