A source privy to Business Today said that the central government may introduce a ‘reverse charge’ tax mechanism for Indians who are using foreign crypto exchanges to transact.
Meanwhile, the global crypto market capitalisation went up by 1.02 per cent to $1.3 trillion as of 8.50 pm. The global crypto trading volume was down by 11.16 per cent to $77.67 billion as per Coinmarketcap data.
Bitcoin (BTC), the world’s oldest cryptocurrency, was trading at $29,965.11, lower by 0.55 per cent in the last 24 hours. Ethereum (ETH) was, however, up by 0.01 per cent to $2,068.49.
Among other significant coins, Cardano (ADA) was down by 0.03 per cent at $0.5667, Algorand (ALGO) was trading with a gain of 0.9 per cent at $0.4808, Solana (SOL) was trading with a gain of 2.59 per cent at $56.43, Polkadot (DOT) was down by 1.29 per cent at $10.72 and Binance Coin (BNB) was up by 0.21 per cent at $303.81.
Today’s top gainer was MetaPay (METAPAY), which was up by 1830.49 per cent at $0.000009956. The top loser was PAPPAY (PAPPAY), which was down by 81.61 at $0.0000002019
Dogecoin (DOGE) was down by 0.16 per cent at $0.08933. Its volume to market cap ratio stands at 0.04397. Rival Shiba Inu (SHIB) was down by 0.14 per cent at $0.00001239.
Dogelon Mars (ELON) gained 0.92 per cent to trade at $0.0000005109, Floki Inu (FLOKI) jumped by 25.49 per cent at $0.00001034 and Samoyed Coin (SAMO) 1.99 per cent at $0.006125.
In the DeFi segment, YFI (yearn.finance) was up by 0.66 per cent at $10,073.51, and Terra (LUNA) was trading with a loss of 0.71 per cent at $0.0001846. Avalanche (AVAX) was down by 1.28 per cent at $33.52, Uniswap (UNI) was trading with a gain of 3.69 per cent at $5.37 and Aave (AAVE) by 3.52 per cent at $91.81.
Swedish music streaming company Spotify begins testing non-fungible token (NFT) gallery on music artist’s profile page in the US. “Spotify is running a test in which it will help a small group of artists promote their existing third-party NFT offerings via their artist profiles. We routinely conduct a number of tests in an effort to improve artist and fan experiences," said Spotify in a statement, exclusively reported by Musically.com.