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Hyderabad: In yet another cryptocurrency fraud, a city-based businessman lost Rs.10 lakh to fraudsters. The man, a resident of Musheerabad, had got a message on WhatsApp with details of crypto currency trade and a link to join a ‘BTC group’ a week ago. He joined the WhatsApp group through the link and initially invested around […]
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By Gavin Brown, Richard Whittle, Stuart Mills If you had invested £100 ($122) in the cryptocurrency Luna a month ago, you might have been quietly confident you’d made a sensible bet. But Luna’s value has since fallen drastically – on May 13 almost turning zero. Luna was by no means the only victim in a […]
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The biggest risks of the unregulated cryptocurrency market are money laundering and terror financing. It is for this reason that India has made a strong case for regulating cryptocurrencies at a global level. Since the regulation cannot be done by a single country within its terrain, it has to be a global initiative to figure […]
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Helena: For the past year a company that “mines” cryptocurrency had what seemed the ideal location for its thousands of power-thirsty computers working around the clock to verify bitcoin transactions: the grounds of a coal-fired power plant in rural Montana. But with the cryptocurrency industry under increasing pressure to rein in the environmental impact of […]
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New Delhi: The government is working on classification of cryptocurrency as goods or services under the GST law, so that tax can be levied on the entire value of transactions. Currently, 18 per cent Goods and Services Tax (GST) is levied only on service provided by crypto exchanges and is categorised as financial services. GST […]
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Hyderabad: Crypto is the new black and could be here to stay. Even though the world of crypto is still volatile with no clarity on the legality of the digital asset, many youngsters are willing to take the risk, albeit with small amounts. For many, after the stock market, investing in cryptocurrency seems to be […]
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Hyderabad: A woman from Jubilee Hills lost Rs 91 lakh to cyber fraudsters who hacked her crypto currency account and looted it. According to the police, the woman, who was into digital trading opened an account with ‘Binance’, a crypto currency exchange, and invested over Rs 91 lakh. “A couple of days ago, she found […]
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New Delhi: There is no plan by the government to introduce cryptocurrency, the Parliament was told on Tuesday. There is no plan to introduce a cryptocurrency and currently it is unregulated in India, Minister of State for Finance Pankaj Chaudhary told the Rajya Sabha in a written reply. “Reserve Bank of India (RBI) does not […]
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The suspect, in camouflage gear, fired a gun and then held an Apple employee hostage for several hours before being apprehended late on Tuesday.
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Hyderabad: Cryptocurrency is the current rage for many wannabe investors and that is where a group of friends, who pooled in Rs.16 lakh, lost their money. According to the police, one of the victims came in contact with a person on Facebook, who told him about investing in crypto currency trade and suggested him to […]
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Mumbai: Cryptocurrency is privately created and it is a very big threat to the country’s macroeconomic and financial stability, RBI Governor Shaktikanta Das said on Thursday. Replying to a question, Das said, “Cryptocurrency or currency which have currency like character, they will undermine the RBI ability to deal with issues of financial stability.” RBI Governor […]
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The NDA government’s decision to tax crypto assets without first creating a regulatory framework for their transactions is baffling. Finance Minister Nirmala Sitharaman’s announcement, in her Budget presentation, that any income from transfer of any virtual digital asset would be taxed at the rate of 30% reflects the Centre’s eagerness to dip into the digital […]
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Warangal: In a first of its kind of cyber frauds in the name of investment into the cryptocurrency, near 40 people, mainly youth, were reportedly cheated in lakhs of rupees in Narsampet area in the district recently. The fraud came to light on Wednesday as a victim named Kathi Raju of Laknepally approached the police […]
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New Delhi: Cryptocurrencies like Bitcoin or Ethereum will never become a legal tender, Finance Secretary TV Somanathan told ANI adding only the digital rupee issued by the Reserve Bank of India (RBI) would be the legal tender. Speaking to ANI, Finance Secretary said, “Digital rupee will be backed by RBI which will never default. Money […]
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Hyderabad: The announcement in the union Budget 2022-23 of introducing flat 30 per cent taxation on income from crypto and digital assets is being seen as a welcome move for innovators and experts working in this field. In her speech, Finance Minister Nirmala Sitharaman said, “There has been a phenomenal increase in transactions in virtual […]
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Hyderabad: Chief Minister K Chandrashekhar Rao demanded that the Centre clarify whether cryptocurrency has been legalised in the country. He asked Prime Minister Narendra Modi and union Finance Minister Nirmala Sitharaman to explain if cryptocurrency has been validated. He questioned on what basis does the union Finance Minister announce plans to impose 30 per cent […]
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According to data acquired by financial news portal Finbold, between October and January, the number of Bitcoin addresses holding over $1 million has reduced by 28,186 or 24.26 per cent.
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"The complainant had reported that some unknown persons had fraudulently transferred his Bitcoins, Etherum and Bitcoin cash, worth Rs 30,85,845 at the time of incident, from his cryptocurrency wallet," Deputy Commissioner of Police (IFSO, Special Cell) K.P.S. Malhotra told IANS.
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San Francisco: Leading cryptocurrency platform Crypto.com has finally admitted that 483 users on its platform lost almost $34 million in various digital coins owing to a compromise in two-factor (2FA) authentication. Overall, the unauthorised withdrawals had over $15 million worth of etherum, $19 million worth of Bitcoin and $66,200 in “other currencies”. The platform said […]
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While the opinion may be divided on legitimising cryptocurrency, a blanket ban could be counter-productive, given the global trends in the growth of the virtual currency market. Prime Minister Narendra Modi’s call for a collective and synchronised global policymaking around the blockchain-backed digital currencies must be seen against the backdrop of conflicting policy formulations floating […]
