The government is unlikely to shut the door on cryptocurrencies and instead take a nuanced approach. They may not be permitted as currency to settle transactions and make payments but could be held as an asset like shares, gold or bonds. Active solicitation by companies including exchanges and platforms would be barred, people with knowledge … Read more
The government is planning to define cryptocurrencies in the new draft bill that also proposes to compartmentalise virtual currencies on the basis of their use cases, three people aware of the development told ET. Cryptocurrencies will be treated as an asset/commodity for all purposes, including taxation and as per user case — payments, investment or … Read more
Finance Minister Nirmala Sitharaman on Monday communicated government’s stand on important matters such as cryptocurrency, retrospective taxation and keeping inflation within the comfort band. On the issue of fuel pricing, the finance minister remained non-committal on cut in excise duty on petrol and diesel, saying payments in lieu of past subsidised fuel pose limitations. Breaking … Read more
WASHINGTON—U.S. authorities on Thursday moved to seize 280 cryptocurrency accounts they said were used by North Korean hackers who stole an estimated more than $1 billion from exchanges around the world, including U.S.-based Algorand. The U.S. Justice Department said the accounts targeted in the civil forfeiture filing were used by the North Korean hackers and … Read more