The US State of Virginia and its senate, allow the banks to start offering crypto custody services according to the latest reports that we have in today’s crypto news. The delegate Christopher T. Head introduced the new bill back in January and sought an amendment to allow eligible banks to offer crypto custody services. The […]

Key Takeaways MetaMask and OpenSea blocked multiple users in Iran and Venezuela this week. Infura inadvertently blocked some users in response to U.S. sanctions...

Delegate Christopher T. Head introduced the bill (House Bill No. 263) back in January 2022, seeking an amendment to allow eligible banks to offer crypto custody services.

Nischal Shetty, founder and CEO of the popular Indian crypto exchange WazirX, has appealed to the government to re-examine the proposed crypto tax law to build a favorable crypto ecosystem in the country. Does India’s Crypto Tax Need More Work? In a recent Twitter thread posted today, the CEO of WazirX, Nischal Shetty has appealed to the Indian government on implementing favorable laws for the next generation of crypto enthusiasts who are building and contributing to the upcoming blockchain and cryptocurrency ecosystem. Shetty believes that the proposed crypto tax should be at par with India’s highest population between the ages of 18-25 who are into crypto but not under the taxable income bracket. Concerning the TDS, Nischal feels that a 1% slab will make it virtually impossible for day traders, or high-frequency traders as investors could get their entire capital locked in it if they trade for only a few hundred times. Government has also extra work of refunding all such TDS as well, according to him. The WazirX Boss further pointed out the latest tax rules could even encourage “brain drain” as the lack of clarity makes it difficult for law enforcement as well as entrepreneurs to function effectively. Day 32 India needs to implement favourable laws for Crypto entrepreneurs & investors We risk losing #BUIDL talent & future gains from Crypto Issues: 1) 30% income tax irrespective of income slab2) 1% TDS on every trade 3) No clarity for crypto entrepreneurs#BuildForCrypto — Nischal (Shardeum) ⚡️ (@NischalShetty) March 5, 2022 30% Crypto Tax Bracket Highest in the Country Earlier in February, Indian Finance Minister Nirmala Sitharaman announced a crypto tax proposal of 30% on gains made from crypto tradings from April 1. The proposal also includes a 1% tax deducted at source (TDS) by crypto exchanges on transactions above 10,000 Indian rupees ($133). Reportedly, the 30% crypto tax bracket is the highest in the country and nearly double the corporate tax rate of 16%. The announcement saw a mixed reaction from the Indian crypto community with some calling it a welcome step towards recognizing the unregulated crypto market, while others called it regressive.

The post Nischal Shetty Appeals Indian Govt to Rethink Proposed Crypto Tax appeared first on Cryptoknowmics-Crypto News and Media Platform.

Virginia’s Senate on Friday unanimously approved a bill that will allow banks in the state to provide crypto custody services, granted they have enough resources to manage the associated risk. The bill will go into effect once it is signed by Governor of Virginia Glenn Youngkin. The bill effectively allows banks to be able to

The post Breaking: U.S. State Virginia Will Allow Banks To Offer Crypto Custody Services appeared first on CoinGape.

Over 40% of eligible LUNA is now staked on Terra, giving it more staked value than the Ethereum 2.0 deposit contract. 

Japanese regulators are looking to close loopholes to ensure that Putin allies cannot dodge the hefty economic sanctions.

Bitcoin has surged. The world’s number one digital currency by market cap is once again trading above the $40,000 mark, meaning the Russian invasion of Ukraine may be having sudden opposite effects. Ukraine Invasion May Have Aided BTC Over the past week, the world watched in horror as Russia invaded its neighbor Ukraine. The price...

The post Bitcoin Is Suddenly Spiking as Conflict in Ukraine Rises appeared first on Live Bitcoin News.

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The deployment of powerful AI systems has enriched our understanding of safety and misuse far more than would have been possible through research alone. Notably:

• API-based language model misuse often comes in different forms than we feared most.
• We have identified limitations in existing language model evaluations that we are

Gartner has touted CSMA as one of the top technology trends for this year. But what is it really?

Donations to the Ukrainian government and associated charitable organizations are skyrocketing as the fighting has intensified against invading Russian forces. Cryptocurrencies have figured conspicuously in the effort, billed as a new and welcome resource for the country in a time of crisis. But Ukraine’s journey into the cryptoverse has had its bumps, serving as much […]