London Crowned World’s Leading Cryptocurrency Hub, According To Study
According to a study it has received, research by cryptocurrency tax software company Recap says London has become a major hub for cryptocurrencies, setting an example to the world. In addition, the researchers also analyzed eight indicators, including the number of cryptocurrency traders and the amount of cryptocurrency ATMs in each country.
Indian Government Introduces New Crypto Tax Penalty
The latest crypto taxation introduced by the Government of India includes non-payment of tax deduction at source. To the disappointment of the crypto community, the Finance Minister did not mention crypto currency in his budget this time and declared a 30 percent tax on the income derived from cryptocurrency and a one percent tax has been fixed on its TDS.
NFT sales soar: January 2023 surges 41% to nearly $1 billion in 30 days
According to data recorded on February 1, the first day of the month, NFT token sales have registered a growth of 41.96% as compared to the previous month, reaching almost $1 billion in 30 days. Also a 22% increase was registered in the number of digitally stored transactions in the previous months.
UK announces plans for ‘stronger’ crypto regulations, opens consultation
Ambitious plans have been unveiled or even expanded by the United Kingdom to more strongly regulate individual crypto activities in a bid to protect consumers and grow its economy. Over the next 3 months British authorities will accept public feedback on proposals for regulation designed to regulate digital assets like traditional finance.Andrew Griffiths insists that we must continue to grow the economy and enable our technological change and innovation. are committed to. Of course, our project also includes crypto assets technology, but we must protect those consumers who are adopting or accepting this innovative technology.
Aptos drops 20% from all-time high after 400% gain since late December
The cryptocurrency asset aptos (APT) managed to reach its all-time high and lost 20% of its value in the next 5 days. In the last 24 hours here against the US Dollar, if we put on the figures, we come to know that it has fallen by 8.3%. Despite the decline from its all-time high, the coin is still up 349% over the previous month’s exchange rate.
Biggest Movers: LTC Rushes to 9-Month High, ATOM Extends Recent Gains
On February 1st we see Litecoin hitting a 9-month high after breaking a key resistance spot and the rise in price ripples as the global cryptocurrency market cap is up marginally today and at the time of writing At the time this increase is up 0.57%. Cosmos was also a notable upside mover with its prices registering momentum for the second consecutive session.
60 organizations launch campaign urging US Congress to protect privacy
On Wednesday, 60 organizations involved in the cryptocurrency Open Source and Free Software, Human Rights and Privacy Protection Project launched a new campaign in the 118th US Congress to protect privacy. Other groups such as Fight for the Future, the Electronic Coin Company and the Tor Project insist that Congress needs fresh policies to support and stand up for privacy.
Bitcoin, Ethereum Technical Analysis: ETH, BTC Slightly Ahead of FOMC Meeting Outcomes
Ethereum was slightly higher on February 1st as markets were preparing and anticipating the outcome of the upcoming Federal Open Committee meetings and some are expecting the US Federal Reserve to hike by 25 basis points. Which would take it to 4.75% using current rates. We see Bitcoin in the green on Wednesday as its price climbed above $23000.
