✴️ India to "Unban" Crypto
🔹In a speech discussing the budget for 2022, Indian Finance Minister Nirmala Sitharaman repeatedly mentioned the country's policy towards cryptocurrencies. As expected, there is no longer talk of a total ban on digital assets, but rather regulation.
🔹The Indian Finance Minister said that due to the scale and frequency of cryptocurrency transactions, it was crucial to provide a specific tax regime for the taxation of this sector.
🔹Thus, Indian citizens will now have to pay a 30% tax on all their income from the "transfer" of digital assets. In other words, this includes the sale and exchange of a cryptocurrency with a third party.
🔹In a speech discussing the budget for 2022, Indian Finance Minister Nirmala Sitharaman repeatedly mentioned the country's policy towards cryptocurrencies. As expected, there is no longer talk of a total ban on digital assets, but rather regulation.
🔹The Indian Finance Minister said that due to the scale and frequency of cryptocurrency transactions, it was crucial to provide a specific tax regime for the taxation of this sector.
🔹Thus, Indian citizens will now have to pay a 30% tax on all their income from the "transfer" of digital assets. In other words, this includes the sale and exchange of a cryptocurrency with a third party.
✴️ KPMG buy BTC and ETH for its treasury
🔹Contrary to what the news of the last few months would suggest, it is not only MicroStrategy and El Salvador that can buy Bitcoin. The Canadian arm of auditing giant KPMG actually announced yesterday that it has incorporated BTC and ETH into its treasury.
🔹At this time, we do not know the amount of the investment, however, we do know that the transaction and the custody of the assets were made by Gemini Trust Company LLC, the parent company of the eponymous exchange platform.
🔹With this news, KPMG thus joins the ranks of large companies that have chosen to diversify their cash with cryptocurrencies. This practice which tends to be democratized is now more than a simple fashion effect and we will not be surprised that 2022 will see a lot of similar announcements.
🔹Contrary to what the news of the last few months would suggest, it is not only MicroStrategy and El Salvador that can buy Bitcoin. The Canadian arm of auditing giant KPMG actually announced yesterday that it has incorporated BTC and ETH into its treasury.
🔹At this time, we do not know the amount of the investment, however, we do know that the transaction and the custody of the assets were made by Gemini Trust Company LLC, the parent company of the eponymous exchange platform.
🔹With this news, KPMG thus joins the ranks of large companies that have chosen to diversify their cash with cryptocurrencies. This practice which tends to be democratized is now more than a simple fashion effect and we will not be surprised that 2022 will see a lot of similar announcements.
BREAKING: The Russian government and central bank have just reached an agreement on cryptocurrencies, according to Russia's Kommersant.
Both organizations will treat bitcoin and crypto assets as currencies.
Both organizations will treat bitcoin and crypto assets as currencies.
✴️ Binance partners with South Korean record company YG Entertainment
🔹Exchange platform Binance will be able to expand its business in South Korea through a partnership with YG Entertainment, one of South Korea's three largest record companies, which produces such internationally renowned acts as Blackpink, Winner and BigBang.
🔹The memorandum of understanding signed between the two parties stipulates that Binance will be able to develop digital assets based on the intellectual property of artists produced by YG Entertainment.
🔹Few details have been revealed, but it is already known that this strategic partnership will allow the development of blockchain projects, including non-fungible tokens (NFTs). The construction of a metaverse and the development of video games through the Binance Smart Chain (BSC) would also be in the cards.
🔹Exchange platform Binance will be able to expand its business in South Korea through a partnership with YG Entertainment, one of South Korea's three largest record companies, which produces such internationally renowned acts as Blackpink, Winner and BigBang.
🔹The memorandum of understanding signed between the two parties stipulates that Binance will be able to develop digital assets based on the intellectual property of artists produced by YG Entertainment.
🔹Few details have been revealed, but it is already known that this strategic partnership will allow the development of blockchain projects, including non-fungible tokens (NFTs). The construction of a metaverse and the development of video games through the Binance Smart Chain (BSC) would also be in the cards.
BTC UPDATE:
BTC is dumping badly because of the war situation is going on between Russia and Ukraine. We pray for everyone's safety.
Now let's go to the chart. BTC is trading below $35k and again trying to enter into the falling wedge which was broke out few days before. If it again goes inside the wedge then things become ugly. As of now BTC has a support at $34,800 level. BTC must bounce from here otherwise we might see $28k-$30k level.
IMO it's better to wait for the daily close before making any conclusion. As of now stay safe and don't take any new positions.
BTC is dumping badly because of the war situation is going on between Russia and Ukraine. We pray for everyone's safety.
Now let's go to the chart. BTC is trading below $35k and again trying to enter into the falling wedge which was broke out few days before. If it again goes inside the wedge then things become ugly. As of now BTC has a support at $34,800 level. BTC must bounce from here otherwise we might see $28k-$30k level.
IMO it's better to wait for the daily close before making any conclusion. As of now stay safe and don't take any new positions.
Binance to Donate $10M to Ukraine Humanitarian Effort and Launch Crypto-First Crowdfunding Site to Further Help Provide Aid to Ukraine
https://www.binance.com/en/support/announcement/6bce8615076a4173a4738817c597b09e
https://www.binance.com/en/support/announcement/6bce8615076a4173a4738817c597b09e
Notice of Removal of Trading Pairs - 2022-03-03
https://www.binance.com/en/support/announcement/034252c30f554df284984982d65742ba
https://www.binance.com/en/support/announcement/034252c30f554df284984982d65742ba
Binance
Notice of Removal of Trading Pairs - 2022-03-03 | Binance Support
Fellow Binancians , Binance will remove and cease trading on the following trading pairs at 2022-03-03 03:00 AM (UTC): ALPACA/BNB, CVC/ETH, FIS/BIDR, FIS/TRY, GNO/BNB, PHB/TUSD, QUICK/BNB, SXP/BIDR...
Notice of Removal of Trading Pairs - 2022-03-10
https://www.binance.com/en/support/announcement/105793a7dd7b4b3dae049f1e670f3c25
https://www.binance.com/en/support/announcement/105793a7dd7b4b3dae049f1e670f3c25
Binance
Notice of Removal of Trading Pairs - 2022-03-10 | Binance Support
Fellow Binancians , Binance will remove and cease trading on the following trading pairs at 2022-03-10 03:00 AM (UTC): IQ/BNB, RLC/BUSD Please note: Users can still trade the above assets on other ...
Sheikh Mohammed approves law to regulate cryptocurrencies and NFTs
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, approved a first-of-its-kind law to regulate virtual assets in Dubai.
The Dubai Virtual Asset Regulation Law presents an advanced legal framework to protect investors and promote responsible business growth within a virtual asset (VA) Industry governance that implements the highest international standards.
An independent authority, established under Dubai World Trade Center Authority, will oversee the regulation, licensing and governance of virtual assets, non-fungible tokens (NFTs), and cryptocurrencies.
Link : https://www.khaleejtimes.com/uae/sheikh-mohammed-approves-law-to-regulate-cryptocurrencies-and-nfts
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, approved a first-of-its-kind law to regulate virtual assets in Dubai.
The Dubai Virtual Asset Regulation Law presents an advanced legal framework to protect investors and promote responsible business growth within a virtual asset (VA) Industry governance that implements the highest international standards.
An independent authority, established under Dubai World Trade Center Authority, will oversee the regulation, licensing and governance of virtual assets, non-fungible tokens (NFTs), and cryptocurrencies.
Link : https://www.khaleejtimes.com/uae/sheikh-mohammed-approves-law-to-regulate-cryptocurrencies-and-nfts
Khaleej Times
Sheikh Mohammed approves law to regulate cryptocurrencies and NFTs
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, approved a first-of-its-kind law to regula..
Deposits and Withdrawals on Binance via the Polygon (MATIC) Network Temporarily Paused
https://www.binance.com/en/support/announcement/ffa74b47e870477a80deacee1fcab727
https://www.binance.com/en/support/announcement/ffa74b47e870477a80deacee1fcab727
Binance
Announcement | Binance Support
Australia gears for a major move on regulating cryptocurrencies https://finbold.com/australia-gears-for-a-major-move-on-regulating-cryptocurrencies/
Finbold
Australia gears for a major move on regulating cryptocurrencies
Australia announced plans for a significant overhaul of payment system reforms that will also target digital currencies.
Russia to Accept Bitcoin Payments for Oil and Gas Exports
https://slaynews.com/economy/russia-accept-bitcoin-payments-oil-gas-exports/
https://slaynews.com/economy/russia-accept-bitcoin-payments-oil-gas-exports/
Slay News
Russia to Accept Bitcoin Payments for Oil and Gas Exports
A top Russian government official has just announced that Russia is to begin accepting payments in Bitcoin for its oil and gas exports.
🇷🇺 Russia May Accept Bitcoin for Gas Exports, Lawmaker Says.
Russia is moving away from the dollar and the euro as payment options for its energy exports, and bitcoin has been mentioned as a possible substitute alongside the ruble and the national currencies of partnering countries. A high-ranking parliamentarian has indicated that Moscow may take cryptocurrency for natural gas and other resources.
Russia is moving away from the dollar and the euro as payment options for its energy exports, and bitcoin has been mentioned as a possible substitute alongside the ruble and the national currencies of partnering countries. A high-ranking parliamentarian has indicated that Moscow may take cryptocurrency for natural gas and other resources.
Breaking: Indian Govt. Charges 11 Crypto Exchanges For Tax Evasion
11 Indian Crypto Exchanges Under Tax Evasion Action
The Indian government had accused 11 crypto exchanges, including WazirX, CoinDCX, CoinSwitch Kuber, of tax evasion, said Minister of State for Finance Pankaj Chaudhary in a written response to the Parliament on Monday. Moreover, the central government has recovered a total of ₹95.86 crore, which is almost $12.58 million, from 11 crypto exchanges for evading the Goods and Services Tax
11 Indian Crypto Exchanges Under Tax Evasion Action
The Indian government had accused 11 crypto exchanges, including WazirX, CoinDCX, CoinSwitch Kuber, of tax evasion, said Minister of State for Finance Pankaj Chaudhary in a written response to the Parliament on Monday. Moreover, the central government has recovered a total of ₹95.86 crore, which is almost $12.58 million, from 11 crypto exchanges for evading the Goods and Services Tax
Binance’s Luna investment was worth $1.6 billion. Now, it’s less than $3,000, and the CEO is moving to protect users https://fortune.com/2022/05/16/binance-luna-terrausd-ust-stablecoin-retail-investors-crypto-crash/
✴️ BTC Update
BTC is now trading just above the fateful 20k level.
The trading volume in the previous session was below its average level but not by much. The latter was largely boosted by the incredible volume levels of the past week on Binance.
The daily technical situation remains positive with the MACD and WaveTrend pointing upwards. On a 4h time frame, the indicators are also positive despite signs of bearish curves visible on the WaveTrend.
👉 What to do now?
BTC is now trading above its Wilder average but this is not enough to open a long term position. As long as we are neither below 17k nor above 24k, we will abstain.
Until then stay safe, I wish you all a great day!
BTC is now trading just above the fateful 20k level.
The trading volume in the previous session was below its average level but not by much. The latter was largely boosted by the incredible volume levels of the past week on Binance.
The daily technical situation remains positive with the MACD and WaveTrend pointing upwards. On a 4h time frame, the indicators are also positive despite signs of bearish curves visible on the WaveTrend.
👉 What to do now?
BTC is now trading above its Wilder average but this is not enough to open a long term position. As long as we are neither below 17k nor above 24k, we will abstain.
Until then stay safe, I wish you all a great day!