As we see the possibility of a Ceasefire between Russia- and Ukraine war the volatility in the crypto market is towards declination and affects the Cryptocurrencies Prices. Which Highlights less fear among market participants?
Bitcoin is soothing over by 0.5% at $ 47,240, price of Bitcoin in INR is quoted at Rs. 36, 40,351.Besides bitcoin, althorns are also traded soothingly. If we see Ethereum was down by 0.4%, Ripple was lower by over 2%. The Top 20 Major assets showed a weakness with losses of over 3% on 30th March 2022.
As of April 1, 2022, the Finance Bill with specific tax provisions for Crypto will be going to pass. Ashish Singhal, Co-founder, and CEO of Coin Switch are of the view that cryptos should be taxed as per Equity Markets. He also adds that “Despite the Finance Bill, the Crypto Industry sees space for Reasonable Changes in Tax policy. Crypto assets are to Public Blockchain, what equities are to public companies. Taxes on crypto should therefore be in per with those in the Equity market. TDS is to provide a tax trail. A lower TDS can do so without driving users out of KYC- compliant platform.”
Well, it seems to be very interesting that after the passing of this bill what kind of Changes will occur in the crypto market? Will traders be able to accept this taxation? Will this bill prove Revolutionary in Crypto? Or will it cause a Declination in it?