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Which Countries Are Using Cryptocurrency the Most?

A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology - a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation. Types of Cryptocu..

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Taxation of Cryptocurrencies

Cryptocurrency is a medium of exchange that is digital, encrypted and decentralized. Unlike the currencies used worldwide, there is no central authority that manages and maintains the value of a cryptocurrency. While in the initial stages the point of focus was only on the mining aspect of the cryptocurrencies, over the past few years there has been a sudden surge with regard to the trading of the same. Cryptocurrency market in India is an unregulated market. With the rampant rise in the popu..

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Briefing Cryptocurrencies - An Indian Viewpoint

In India gossips on Crypto market is trending for a while now and this will not get old atleast for a decade. This is one of the fastest-growing market in the world today. The Indian Stock Market size as on July, 2021 is around $3 Trillion whereas comparatively the total Cryptocurrency Market size is above $2 Trillion. Hence, this article shall briefly discuss about cryptocurrencies and its impact in India. WHAT IS CRYPTOCURRENCY? Being a digital product, it definitely is not like the virt..

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Emerging Issues with use of Bitcoin/ Cryptocurrency

Scope of Today's discussion vis-à-vis BITCOIN Brief Intro of - what it is, it's working mechanism, etc; Recent developments both nationally & globally; Cyber attack & sustainability issues; Recognition & regulatory framework across globe & in India; Taxation of gains from Bitcoin; Other issues relating to Cryptocurrency.   What's Bitcoin? On Visiting www.bitcoin.org the first thing that is displayed is: "Bitcoin is an i..

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Decoding GST on Cryptocurrency

What is Cryptocurrency? A cryptocurrency is a type of currency which uses digital files as money. Usually, the files are created using the same ways as cryptography (the science of hiding information). Cryptocurrencies use 'decentralized control', which means that they aren't controlled by one person or government. How does it Work? Cryptocurrency is a form of payment that can be exchanged online for goods and services. Cryptocurrencies work using a technology called blockch..

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RBI clarifies banks cannot prohibit dealing in cryptocurrency

RBI/2021-22/45 DOR. AML.REC 18 /14.01.001/2021-22 May 31, 2021 All Commercial and Co-operative Banks / Payments Banks/ Small Finance Banks / NBFCs / Payment System Providers Madam / Dear Sir,   Customer Due Diligence for transactions in Virtual Currencies (VC) It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.B..

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Decoding Cryptocurrency From GST Point Of View

Today, with the rise of cryptocurrencies and their underlying technology, we stand at the helm of a digital revolution. Cryptocurrencies like Dogecoin, Bitcoin, Ethereum, and Mon-roe are the digital currency used to buy online goods and services, just like tokens or casino chips. Cryptocurrencies operate using a technology called blockchain. There are more than 6,700 different cryptocurrencies traded publicly, according to CoinMarketCap.com, a market research website. These currencies are unique..

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All about Cryptocurrency Investment

Introduction I won't say History and other Blaw Blaw Blaw think. Foe that there are so many Videos are there we can know.In this article I will say my opinion about why we shouldn't invest in Crypto currency. What is Cryptocurrency? As the nomenclature indicates that Cryptocurrency is also one type of currency. So now the question is this currency is legally tenable in India?   What is meant by Currency? 'In layman language, Currency means which can be legally trad..

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Basics of Cryptocurrency

Cryptocurrency is a new form of digital money. It has the potential to operate in mainstream similar to paper currency of any country with no geographical boundaries. Cryptocurrencies rely on blockchain technology, which gets away from the intermediaries in a financial transaction like banks. It is a de-centralized technology where every computer in the transaction confirms the transactions. With globalization setting its feet in every developmental aspect of economic growth and financial ind..

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Cryptocurrency Market - The Rise and The Crashing

So much movement in bitcoin prices and so many dollars of assets involved, everyone was taken aback by the crypto crash that took place on Wednesday. So, let us comprehend this crash and the reasons behind this cryptocurrency mania. But let us first go back in the History and see how the crypto market faced a bullish rise - In India before 2021, unlike Stocks and Mutual Funds, Bitcoins and other Crypto Assets were not considered as conventional methods of wealth building. But, in 2021, thi..

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Can Sports Betting Sites take Cues from Cryptocurrency Exchanges to Counter Black Money?

In many ways, cryptocurrency and sports betting are like siblings in India. Both of them have a certain taboo attached to them, and there is quite a bit of ambiguity in their legal status, especially around cryptocurrencies. It may be fair to say that they fall under a grey area in terms of legality but as we all know, they both are still operational in the country. That said, India’s cryptocurrency exchanges are following stringent guidelines and practices to ensure that their centres..

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2020 Guide To Cryptocurrency Taxes

In recent years and by 2020, cryptocurrencies like Bitcoin have gained significant popularity. This increase in visibility allows policymakers to rely more on the asset. We have recently seen the IRS release new crypto-monetary tax guidelines and begin sending thousands of warning letters to non-conforming cryptocurrency investors. Everyone asks: How is bitcoin treated for tax purposes. "Go with the assumption that it is up to you and you will keep records and be on Uncle Sam's ..

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