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Foreign Crypto Exchanges May Have to Pay 18 Percent Tax in India
On 01.07.2021 byForeign cryptocurrency trading platforms with customers from India may have to pay an 18 percent goods and services tax (GST), according to a report by The Economic Times that cites people familiar with the matter. Overseas companies that provide Online Information Database Access and Retrieval (OIDAR) services and do not have physical presence in India
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Binance Investigated by Cayman Islands Monetary Authority
On 01.07.2021 byThe Cayman Islands Monetary Authority claims that Binance, the largest cryptocurrency exchange by reported trading volume, is not authorized to operate from the Cayman Islands, according to a recently issued public statement. The regulator is currently investigating whether the trading platform has any activities that fall within the scope of its oversight. The Cayman Islands
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Robinhood Reveals $11.6 Billion in Crypto Holdings Ahead of Landmark IPO
On 01.07.2021 byThe pandemic boom in meme stocks and crypto helped Robinhood pull in $7.5 million in profits on $959 million in revenue for 2020 , according to its S-1 filing with the SEC that laid out the company’s financials for the first time ahead of its IPO (initial public offering) later this year. Robinhood intends to
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NFT Gaming ‘Unicorn’ Animoca Raises Another $50M From Coinbase, Others
On 01.07.2021 byAnimoca Brands’ $88.88 million fundraising round in May turned some heads, as it valued the crypto gaming firm at $1 billion—but today the company revealed that it has boosted that investment tally further while bringing in additional investors. Along with the original amount, Animoca has added a second $50 million funding tranche to bring the
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Robinhood Files for IPO, Says Dogecoin Accounts for “Substantial Portion” of Its Crypto-Related Revenue
On 01.07.2021 byPopular trading app Robinhood has filed an S-1 draft registration statement with the U.S. Securities and Exchange Commission to go public. It is seeking to list its shares on the Nasdaq Stock Market under the “HOOD” ticker. Ads Ads The Menlo Park-headquartered company logged a quarterly loss of $1.4 billion dollars due a lot of
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Public Mint Partners with Abra to Tap Additional Source of Yield for EARN Platform
On 01.07.2021 byPublic Mint has joined forces with Abra. Public Mint and Abra Launch Partnership Public Mint, the fiat-based blockchain and payments infrastructure, has partnered with Abra, a leading wealth management platform with functionality for buying, selling, trading, and earning interest on cryptocurrencies, to offer lucrative yield opportunities on the EARN program. Public Mint will deploy a
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Bitcoin Chart Is “Decisively Negative,” Says Legendary Trader Peter Brandt
On 01.07.2021 byVeteran commodity trader Peter Brandt claims that Bitcoin’s daily chart looks “decisively negative” in a recent tweet. The trading guru singles out $29,000 as the key level that bulls have to hold: Ads Ads The burden of proof is on the bulls unless they can keep BTC above $29,000. Image by @PeterLBrandt So far, a
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German Law Could Lead to $415B Crypto Investment
On 01.07.2021 byA new German law called the Fund Location Act allows all specialized investment funds to invest up to 20% of their $2 trillion in assets under management in crypto. Fund Location Act Takes Effect A German law that takes effect today could potentially lead to investments of up to $415 billion flowing into crypto. The
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Mercado Bitcoin Lands $200M Investment from SoftBank
On 01.07.2021 byJapanese multinational SoftBank has invested $200 million in the parent company of Brazilian crypto exchange Mercado Bitcoin. The Largest Crypto Investment in Latin America SoftBank is betting big on Mercado Bitcoin. The firm’s Latin America Fund announced a Series B investment in the Brazilian crypto exchange Thursday. The investment is the largest for crypto in
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Ethereum Favorite Curve Finance Heads to Fantom, xDai
On 01.07.2021 byCurve Finance, a decentralized exchange popularly used for trading stablecoins, has launched on Fantom and xDai’s growing ecosystems. Curve’s Multi-Chain Future Curve Finance has released an identical version of its decentralized exchange on Fantom and xDai. On Fantom, three pools are available, while xDai has only one: the protocol’s DAI, USDC, and USDT pool. With