Cryptocurrency Update: Bitcoin on Friday March 26 rose slightly amid volatile markets as Russia state tensions continue for over a month. The world’s largest cryptocurrency by value is up 1.03 percent in the past twenty-four hours to $44,410.31 at the time of writing, according to international cryptocurrency chasing website CoinMarketCap. It should be noted that Bitcoin gained more than vi percent in the last seven days.
Ether, the second most popular cryptocurrency, fell 0.85 percent in an extremely day to hit $3,105.37, according to CoinMarketCap. On a weekly basis, Ether gained more than 5.40 percent. If you want to read about more crypto updates or want to get Aaj ke Mukhya Samachar visit here.
Back in the Republic of India, the Lok Sabha during the weekday budget session passed the Finance Bill 2022, which planned to tax virtual digital assets or cryptocurrencies.
The new rules area unit will come into effect from April 1st. In accordance with the amendments to the 2022 Finance Bill, the Ministry of Finance proposes to remove the word “other” from the section on the elimination of profit losses on virtual digital assets.
This would mean that the loss from the transfer of Virtual Digital Assets (VDAs) may not be offset by the financial gain from the transfer of another VDA. Have you read about Jahangirpuri Violence: 14 People Arrested. The 2022-23 Budget has provided clarity regarding the imposition of taxes on crypto assets.
As of April 1, an I-T of thirty percent and censuses and surcharges are applied to said operations in the same way that they are profits from horse races or different speculative operations.
In addition, while calculating the financial gain from the VDA transfer, no deductions are allowed with respect to any expense (other than acquisition value) or allowance.
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“The anticipated 30 percent tax, regardless of whether or not the crypto asset area is unit capital assets, is detrimental to the capitalist growth that the industry has been experiencing to date.
This move may create day traders unable to save on taxes even though they are not currently in the tax brackets. Did you read about Why Journalism Means More Than Media? Also, not allowing investors to offset losses from a crypto trade with gains of another kind can further deter crypto participation and strangle trade growth,” said WazirX founder and corporate executive Nischal Shetty.
Here are the top ten cryptocurrencies and their costs on March 26, 2022 (data from coinmarketcap.com at the time of writing this article)
Bitcoin $44,410.31 or 1.03 percent gain in the last twenty-four hours
Ethereum $3,105.37 or 0.85 percent loss in the last twenty-four hours
Tether $1.00 or 0.01 percent loss in the last twenty-four hours
BNB $410.39 or 1.00 percent loss in the last twenty-four hours
USD Coin $0.9999 or 0.01 percent gain in the last twenty-four hours
XRP $0.8261 or 1.73 percent loss in the last twenty-four hours
Cardano $1.11 or 4.67 percent gain in the last twenty-four hours
Solana $98.86 or 4.64 percent loss in the last twenty-four hours
Terra $89.57 or 4.18 percent loss in the last twenty-four hours
Avalanche $83.73 or 3.31 percent loss in the last twenty-four hours
NewsPoint 
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