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The Indian government is reportedly mulling over imposing an 18% goods and services tax (GST) on bitcoin transactions. According to the Central Economic Intelligence Bureau, the government could gain Rs 7,200 crore annually from this bitcoin taxation. 18% GST on Bitcoin Trades The Central Economic Intelligence Bureau (CEIB), an arm of the finance ministry, has […]
The post India Considers 18% GST on Bitcoin Transactions appeared first on Bitcoin News.
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Nigeria, Africa’s biggest economy and most populous nation, traded more than $566 million worth of bitcoin between 2015 and 2020, making it the world’s second-largest peer-to-peer (P2P) bitcoin market after the U.S., which traded $3.75 billion in the period under review. According to an analysis of bitcoin trading platform Paxful’s database shared with news.Bitcoin.com, Nigeria […]
The post Nigeria Is Paxful’s Second Biggest P2P Bitcoin Market, Trades Top $566 Million in Five Years appeared first on Bitcoin News.
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A study revealed a rising trend in bitcoin (btc) volume trading across Latin America amid the coronavirus pandemic and rising inflation, pushing the figures to record highs and putting Venezuela and Colombia at the top of the ranking. Latin America Sees a Bullish Trend in Bitcoin P2P Trading Volume According to Localbitcoins, a peer-to-peer (P2P) […]
The post P2P Bitcoin Trading: Venezuela, Colombia Account for Over 23% of Total Localbitcoins Volume appeared first on Bitcoin News.
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While the United States prepares for the results of the 2020 Presidential Election, a number of data points and traders expect some significant cryptocurrency price fluctuations this week. Statistics from skew.com show bitcoin’s 30-day implied volatility has increased to 59% while 3-6 month stats jumped over 62%. The digital currency economy is hovering at around […]
The post Bitcoin Volatility Expected to Rise After the US Presidential Election appeared first on Bitcoin News.
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Kenya Revenue Authority (KRA) has announced new regulations that compel users of digital marketplaces to pay digital tax. At a rate of 1.5% on gross transaction value, the new tax is expected to take effect on Jan. 1, 2021. According to a report, the KRA will create a special tax unit to track and tax […]
The post New Kenyan Digital Tax to Affect Crypto Platforms appeared first on Bitcoin News.
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Only 3.5 million bitcoin or 19% of total circulating supply is actively traded throughout the world, while the rest is being held long-term by investors, according to a new report by crypto analytics company Chainalysis. Per the report, nearly 18.6 million bitcoin (BTC) has been mined as of June 2020. Of this, around 60% BTC […]
The post Only 3.5 Million Bitcoin Is Traded Worldwide; Majority of BTC Held Long-Term as Digital Gold, Says Chainalysis appeared first on Bitcoin News.
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The cryptocurrency bitcoin is trading at an all-time high relative to its social activity, explains the crypto research firm Tie. The analysts at Tie believe the ratio indicates that bitcoin is being driven by institutional trading. Meanwhile, statistics from Google Trends shows the terms “bitcoin” and “buy bitcoin” dropped from the 100 point highs to […]
The post Bitcoin’s Rise Driven by Institutional Trading, Says Research and Investor Sentiment appeared first on Bitcoin News.
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Two exchanges saw unauthorized access issues, Japan ranked second in 24-hour Bitcoin trading volume for May globally, and more headlined news from Japan this past week.
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