Author: NBTC

India’s Finance Minister Nirmala Sitharaman introduced an interim budget on Feb. 1, 2024, before the nation’s elections between April and June. On Tuesday she revealed a full budget for 2024-2025. India’s Finance Minister Nirmala Sitharaman kept crypto tax rules unchanged in her address announcing the nation’s budget for 2024-2025 on Tuesday. The primary demand from India’s crypto industry was to reduce the controversial tax-deducted-at-source (TDS) policy on crypto transactions from 1% to 0.01%. It made its representations to government officials with evidence from several sources, including a think tank study that provided evidence to support a reduction in the TDS.…

Alchemy Pay, a prominent fiat-crypto payment gateway, has embarked on a significant strategic partnership with Volt, a leader in global real-time payment solutions. This collaboration is poised to revolutionize Alchemy Pay’s offerings by incorporating Volt’s cutting-edge payment channels, including notable entities like Revolut and N26. This integration is specifically designed to expand Alchemy Pay’s reach within crucial European markets, enhancing the platform’s ability to handle real-time EURO transactions for cryptocurrency purchases. This go-to-market strategy is in line with Alchemy Pay’s underlying mission of enabling faster EURO settlements; facilitating a more convenient experience for users partaking in cryptocurrency dealings. Under the…

Russia may legalize industrial crypto mining by the end of the week, media outlets in the nation have claimed. Interfax reported that the State Duma passed a third reading of a draft law that would force crypto miners in the Russian Federation to “comply with the requirements of anti-money laundering legislation.” Russia’s Crypto Mining Law Could Come into Force on Sep. 1 The law is now set to be ratified by the upper parliamentary house. It will then be signed into law by the President’s office. If it passes, miners will need to report information about suspicious-looking crypto transactions to…

The cryptocurrency landscape is constantly evolving, with myriad factors influencing the volatile price movements of its foremost asset, Bitcoin. Recently, insights from a CryptoQuant analyst have shed light on one such influential factor: the profit-realization actions of long-term Bitcoin holders. Historically, the behavior of these seasoned investors has been a bellwether for significant price movements in the crypto market. On the evening of July 3rd, an intriguing pattern emerged, marked by a substantial profit realization by long-term holders. The Spent Output Profit Ratio (SOPR) for these investors soared above the threshold of 10, a rare occurrence indicating that the sold…

The launch of Ethereum ETFs achieved a milestone of over $1.1 billion in trading volume on their first day. Ethereum ETFs have recently significantly impacted the market, with $10.2 billion in assets across nine ETFs. On their debut day, trading volumes exceeded $1.1 billion, showcasing strong investor interest. Day 1 Recap: Ethereum ETFs now have $10.2 Billion in assets across 9 ETFs. Volumes on day 1 were over $1.1 billion for the group. Total net flows were +$107 million after a accounting for the massive -$484 million that came out of $ETHE. Very solid first day https://t.co/Cl92SkXJP9 pic.twitter.com/b7ZS2sGKs0 — James…

Peru launches CBDC pilot in collaboration with Viettel Peru, aiming to integrate digital currency into the national economy. The year-long pilot by BCR will evaluate digital currency’s viability, targeting enhanced financial inclusivity and modernization. Peru has initiated a pivotal project, piloting a Central Bank Digital Currency (CBDC) in partnership with Viettel Peru. This year-long pilot aims to integrate digital currency into Peru’s financial system, marking a significant step towards modernizing its financial infrastructure and possibly setting the stage for future innovations in the sector. CBDC Pilot Project Implementation The Central Reserve Bank of Peru (BCR) is spearheading this initiative to…

The Open Network (TON) has outperformed Ethereum scaling solution Cardano and is now ranked third in the list of top blockchain networks by Proof-of-Stake (PoS) market capitalization. Notably, Toncoin (TON), the native token of TON, has outperformed ADA in the past year as well. As per data from Staking Rewards, Ethereum ranks first with a staking market cap of $115 billion, a staking ratio of 27.67%, and a reward ratio of 3.33%. ETH is followed by Solana, with a staking market cap of $67.28 billion, a staking ratio of 65.71%, and a reward ratio of 6.97%. TON ranks third with…

Four individuals have been charged with conspiracy to manipulate Australian share prices through a coordinated “pump and dump” scheme organized via the messaging app Telegram, Australia’s securities regulator announced today (Tuesday). Syed Yusuf, Larissa Quinlan, Emma Summer, and Kurt Stuart face criminal charges for allegedly artificially inflating penny stock prices before selling shares at a profit. The charges, filed in Sydney’s Downing Centre Local Court, carry maximum penalties of 15 years imprisonment and fines exceeding $1 million. The Australian Securities and Investments Commission (ASIC) alleges the defendants formed a private Telegram group to select stocks, then promoted them to a…

Bitcoin recently fell below $57,500, marking a 5% drop on July 4. This decline has left investors concerned about Bitcoin’s future price movements. Here, we explore the possible reasons behind the dip and gather insights from experts on Bitcoin’s potential trajectory. Possible Reasons Market Sentiment and Selling Pressure Bitcoin’s recent drop is attributed to several factors. A significant one is the lack of positive sentiment in the market. Consistent selling from spot markets has also dampened the mood among Bitcoin bulls. Anticipation over Mt. Gox payout, which will release 142,000 BTC worth about $9 billion, starting in July, has added…

In its statement, cryptocurrency analysis company Santiment listed the DeFi altcoins that software developers have focused on the most in the last month. According to analyst data, the altcoin that cryptocurrency developers focused on most in the last month was Synthetix (SNX), although there is a small difference between it and the second one. SNX’s developer score was measured as 233.87. On the other hand, dYdX (DYDX) ranked second with 224.93 points. In last month’s list, DYDX was ranked first. In third place is Osmosis (OSMO), which was also in third place in last month’s list, with a developer score…