India is reevaluating its stance on cryptocurrencies due to shifting global perspectives. Economic Affairs Secretary Ajay Seth emphasized the need for a collaborative approach, noting that crypto assets transcend borders. This reassessment may delay the release of a discussion paper on cryptocurrencies, initially expected in September 2024. Despite stringent regulations and high trading taxes, India has led in global crypto adoption for the past two years.
📊👀 #BTC MVRV Momentum indicator shows that Bitcoin has remained in negative territory since the start of the year, signaling potential weakness in the market.
😨💸 In the last four hours, $1.3 billion has been liquidated
Markets tumbled as Trump’s new tariffs hit Mexico (25%), Canada (25%), and China (10%). Canada retaliated, Mexico considers countermeasures, and China plans a WTO complaint.
With S&P 500 giants like Amazon, Alphabet & Disney reporting earnings this week, plus key jobs data on Friday, traders brace for volatility.
🇮🇳 India considering crypto policy changes. 30% tax and TDS rules could be revised to match stock market regulations. New tax provisions will be applied retroactively from February 1, 2025. reuters
🗽👀 #BTC Trump’s FBI director nominee, Kash Patel, holds over $100,000 in Grayscale Bitcoin products and up to $100,000 in shares of Core Scientific, a Bitcoin mining company.