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Day: June 26, 2022

India Clarifies Rules for Controversial Tax Provision Ahead of Start Date

The 1% tax deducted at source for virtual digital assets kicks in on July 1. India’s Finance Ministry has issued guidelines to clarify the reporting mechanism for the contentious and soon-to-be-implemented 1% tax deducted at source (TDS) provision. CoinDesk earlier reported how India would clarify that provision of its tax code. The 1% TDS liability – which …

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Iran Aims to Roll Out Pilot Version of Crypto Rial Within 2 Months

The government in Tehran is taking steps in preparation of the launch of Iran’s new digital currency, referred to as the crypto rial. The monetary authority of the Islamic Republic hopes to initiate the pilot phase of the project within the next two months. Crypto Rial to Be Different From Cryptocurrencies, Central Bank Says Iranian …

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Italian Luxury Fashion Brand Salvatore Ferragamo Opens NFT Booth in Soho

Salvatore Ferragamo, the Italian luxury fashion brand has entered the Non-Fungible Token (NFT) scene in grand style. The company set up an NFT booth in its new concept store that was opened in the Soho district of New York on Friday. As announced, the NFT booth permitted anyone to walk in and choose from a …

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Small-time investors achieve the 1 BTC dream as Bitcoin holds $20k range

With BTC recently trading at the $20,000 range for the first time since 2020, small-time investors found a small window of opportunity to achieve their dream of owning at least 1 Bitcoin. Ever since early Bitcoin (BTC) investors woke up millionaires as the ecosystem gained tremendous popularity alongside the mainstreaming of the internet, investors across …

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El Salvador’s $425 million bitcoin experiment isn’t saving the country’s finances

KEY POINTS Nine months in, El Salvador’s nationwide bitcoin experiment is struggling. The government’s bitcoin investment has been cut in half, bitcoin adoption nationwide isn’t really taking off, and the country needs a lot of cash, fast, to meet its upcoming debt payments of more than $1 billion in the next year. El Salvador bet …

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BITCOIN CAN FUND HIGH-QUALITY, EQUITABLE, HEALTHCARE FOR EVERYONE

Creating a system distributed by the internet the same way Bitcoin exists could create accessible healthcare for everyone. THE CURRENT GLOBAL HEALTH CARE SYSTEM IS BROKEN Over 6.2 million people have died of COVID-19-related deaths as of June 13, 2022. This is despite $8.9 trillion or 9.8% of global GDP spent on healthcare in 2019 worldwide. More broadly, half the …

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Market Wrap: From GBTC Discount to Short Bitcoin ETF, Traders See Reasons for Optimism

It’s hard to imagine that data showing traders piling into a trade designed to profit from further bitcoin price declines might be bullish, but that’s how some analysts are interpreting the signal. Hi, I’m Bradley Keoun, here to take you through the day’s crypto market highlights and news. Bitcoin (BTC) held steady at about $21,000 …

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Finance Redefined: Uniswap goes against the bearish trends, overtakes Ethereum

The top 100 DeFi tokens showed signs of recovery after last week’s mayhem, and many of the these tokens registered double-digit gains. This past week, the decentralized finance (DeFi) ecosystem tried gaining some momentum amid the bear market crash. Uniswap saw a trend reversal and overtook Ethereum regarding network fees paid. However, not all DeFi protocols were …

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