Bitcoin trading above Rs 36.60 lakh

Cryptocurrencies traded in the green early on March 29. The global crypto market cap is $2.14 trillion, a 1.78 percent increase over the last day. The total crypto market volume over the last 24 hours is $121.97 billion, which makes a 33.72 percent increase. The total volume in DeFi is currently $16.89 billion, 13.85 percent of the total crypto market 24-hour volume. The volume of all stable coins is now $98.25 billion, which is 80.55 percent of the total crypto market 24-hour volume. Bitcoin's price is currently Rs 36.60 lakh with a dominance of 42.19 percent. This was a 0.09 percent decrease over the day, as per CoinMarketCap data. Read full here

Centre reveals action against 11 crypto exchanges for tax evasion, Rs 95.86 crore recovered

Minister of State for Finance Pankaj Chaudhary, in a written reply to the Lok Sabha on March 28, said that the government had initiated action against 11 cryptocurrency exchanges in India for tax evasions worth a total of Rs 81.54 crore. Chaudhary added that recovery from the cryptocurrency exchanges, including interest and penalty charges, is Rs 95.86 crore. Asked whether crypto exchanges were involved in evasion of goods and services tax (GST), the MoS said that a few cases of GST evasion by crypto exchanges had been detected by the central GST formations. The reply also clarified that the government did not collect any data on crypto exchanges. Read details here

UAE crypto push sees Bybit, Crypto.com announce Dubai offices

Crypto exchange Bybit on Monday said it will open its global headquarters in Dubai and crypto platform Crypto.com said it would establish a regional hub there, the latest moves in the UAE's drive to become a centre for the virtual asset sector. "Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai," the company said in a statement, adding that the headquarters is expected to commence operations in April. Dubai, one of the UAE's seven emirates and the region's trade hub, this month issued its first law governing virtual assets and formed the Virtual Asset Regulatory Authority (VARA) to oversee the sector. The UAE has been pushing to develop the virtual asset sector and regulation to attract new forms of business as regional economic competition heats up. Take a look

Miss Universe fans to soon get partial ownership of crown via NFTs

Beauty pageant fans can now own part of the Miss Universe crown, currently with Harnaaz Sandhu of India. International luxury jewellery house Mouawad, which created the Miss Universe Power of Unity Crown, has tied up with Icecap, a developer of non-fungible tokens for investment-grade diamonds, to offer fractionalised ownership of the crown via NFTs. The Miss Universe Power of Unity Crown was originally worn by 2019 Miss Universe winner Zozibini Tunzi of South Africa, and then by 2020 Miss Universe Andrea Meza of Mexico. For the first time, the unique and storied icon will be offered via NFT technology to fans of the pageant, who have a chance to become part of Miss Universe history themselves. Read more here