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Crypto exchange Binance exits Canada market due to new policies

Binance, a prominent blockchain and cryptocurrency platform, has stated that it is leaving the Canada market owing to the country’s new stablecoin and investment restrictions.

The company tweeted, “We are announcing that Binance will be joining other notable crypto businesses in proactively withdrawing from the Canadian market.”

The Canadian Securities Administrators (CSA), according to CoinDesk, published new guidance in February that forbids crypto asset trading platforms in the nation from allowing users to acquire or deposit stablecoins without first receiving CSA clearance.

Leading #Blockchain and #Cryptocurrency platform #Binance has announced its exit from the #Canadian marketplace due to new stablecoin and investor limits in the country. pic.twitter.com/JHYz30pt0i
— IANS (@ians_india) May 15, 2023

Cryptocurrencies Bitcoin and Ether fell sharply, Dogecoin fell 24%

On Tuesday, the majority of cryptocurrencies began to trade bullishly, but the rise abruptly came to an end. A significant drop in Bitcoin’s price occurred on Wednesday, the world’s biggest and most popular cryptocurrency. Bitcoin is currently worth $18,204, a 12% decrease from Wednesday.

On the other hand, Ether of the Ethereum blockchain, the second most popular cryptocurrency in the world after bitcoin, also had a major drop on Wednesday, plunging by 16 percent. Wednesday’s price of ether is down to $1,312.

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A 24% drop in Dogecoin

Dogecoin, on the other hand, experienced a steep decrease on Wednesday of 24%. On Wednesday, Dogecoin is trading for $0.08. Shiba Inu is down 15% on Wednesday and trading at $0.000010 simultaneously. Additionally, on the previous day, prices fell for Solona, Tether, XRP, Tron, Litecoin, Uniswap, Epicoin, Polygon, Cardano, Stellar, Chainlink, and Polkadot.

Cryptomarket cap drops 11% globally

The agreement between Crypto Binance and FTX on Wednesday is thought to be the main cause of this decrease. As a result, on Wednesday, the value of the global cryptocurrency market fell below $1 trillion. Global Crypto market capitalization currently stands at $952 billion, down about 11% from yesterday.

Cryptocurrency market boom, bitcoin and ethereum cryptocurrencies boom

Cryptocurrency Price Today: Today’s bitcoin market is moving quite quickly. Cryptocurrencies Bitcoin and Ethereum, the two most important ones, are both on the rise. The market capitalization of all cryptocurrencies increased by 3.46 percent to $ 900.17 billion as of 9:40 am Indian time.

Bitcoin is currently trading at $ 20,217.94, up 3.69 percent, per the information provided by Coinmarketcap at the time this news article was written. On the previous day, the cost of Ethereum, the second-largest cryptocurrency, increased by 5.38 percent to $1,112.36. Currently, Bitcoin holds a 42.9 percent market share in the cryptocurrency space, while Ethereum holds a 15.0 percent share.

Biggest Growing Cryptocurrencies

The three most popular coins over the past day, according to Coinmarketcap, were Arweave (AR), Curve DAO Token (CRV), and Polygon (MATIC). You should take note that these are tokens or coins with a volume of more than $50,000 during the last 24 hours.

Cryptocurrency News Today: Market stable, but 3 coins jump more than 1 thousand percent

There is little movement in the cryptocurrency market today, Wednesday, although the crypto market cap is still at the green mark. At 9:48 am, the Global Crypto Market Cap has risen by 0.07%, reaching $2.15 trillion. Speaking of big coins, Tera Luna saw a good increase yesterday. Bitcoin and Ethereum experienced very little movement. Today, there are three coins that have gone up by more than 1000 percent.

On Tuesday, Bitcoin was trading at $47,409.07, up 0.13% as per Coinmarketcap data. The price of Ethereum the second-largest coin climbed 0.27% to $3,385.32 in the last 24 hours. Currently, Bitcoin holds a market dominance of 42.2%, while Ethereum holds a market dominance of 19%.

Which cryptocurrency is better in the market, know

Terra – LUNA – Price : $106.32, Increase : 2.42%
Dogecoin – DOGE – Price : $0.1422, Increase : 1.55%
Solana – SOL – Price : $111.06, Increase : 1.33%
Shiba Inu – Price : $0.00002718, Increase : 0.66%
BNB – Price : $433.19, Increase : 0.04%
Polkadot – Price : $22.27, Increase : 0.04%
Avalanche – Price : $92.37, Decrease : 1.88%
XRP – Price : $0.8612, Decrease : 1.17%
Cardano – ADA – Price : $1.19, Decrease : 0.95%

Coin with the highest height

According to data as of 9:30 am, the three largest coins were Will Smith Inu (WSI), Pyroblock (PYR), and MetaPay. The coin dubbed Will Smith Inu (WSI) had gained 2647.87% at the time of writing the news on Wednesday, and Pyroblock (PYR) jumped 1789.40%. MetaPay is at number three with an increase of 1004.28%.

Finance Bill 2022 passed from Lok Sabha, government became more strict regarding tax on cryptocurrency

Cryptocurrencies are now subject to tighter taxation. In the Lok Sabha today, a crypto tax amendment was approved. Finance Bill 2022 has been amended by the government today.

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Crypto Tax in India

The approval of Tax on Virtual Digital Assets i.e. Crypto Tax has cleared the way for its implementation on April 1st. A clarification has been made to the Finance Bill regarding the taxation of virtual digital assets. It is impossible to offset gains in one of the Virtual Digital Assets with losses in any other. It means if you make a profit from any digital assets, you will need to pay taxes.

Modification is what?

Virtual Digital Assets are discussed in paragraph 115BBH of the Bill. According to the IT Act, loss arising from the trading of crypto assets cannot be deducted from income derived from ‘any other provision’ of the IT Act. ‘Other’ has been removed from the amendment. This means that the income received from any provision cannot be used to offset the loss. It is clear, as a result of this amendment, that a loss of crypto or other provision cannot be added to a gain of another crypto. Profits will need to be taxed, while losses will be borne by the investor.

Tokens, numbers, and codes are virtual digital assets that can be exchanged or traded electronically, according to the Finance Bill. These include cryptocurrency and digital money. Increasingly, these assets are popular. Also, it has demonstrated a high rate of return. Has also been at the forefront of returns. There is no government regulation of cryptocurrency, so governments have concerns about its use. The crypto rules have become stricter following the amendment.

In the budget, a crypto tax was announced

In the budget, the taxation of crypto was announced. Tax classifications like this are considered alongside the lottery. A 30 percent tax will be applied to all virtual digital assets (VDAs) and crypto assets, according to the announcement. If there is a loss after the modification, the investor will not be able to reflect it in other income. As well as this, a TDS of one percent will be applied to crypto transactions. Taxation rules for crypto will take effect on 1st April.

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Cryptocurrency News Today: Boom in the Cryptocurrency Market, Great gains for Terra Luna and Bitcoin

Global crypto market cap jumped 5.37% to $1.82 trillion at 9.38 am on Wednesday (9 March 2022). The most of prominent cryptocurrency currencies have gained on Wednesday. There has been the biggest jump in Terra Luna. Additionally, bitcoin and Ethereum increased by over 6 percent.

In the last 24 hours, the price of bitcoin increased 6.75% to $41,351.84, while the price of Ethereum increased by 6.20% to $2,708.00, according to Coinmarketcap. The Bitcoin market dominance today is 42.9%. The Ethereum market dominance has risen to 17.8%.

Which coin has increased the most

Terra – LUNA – Price : $93.10, Increase : 15.96%
Avalanche – Price : $79.53, Increase : 8.77%
Solana – SOL – Price : $88.10, Increase : 5.09%
BNB – Price : $400.57, Increase : 4.52%
Cardano – ADA – Price : $0.8367, Increase : 3.05%
Shiba Inu – Price : $0.00002395, Increase : 2.83%
XRP – Price : $0.7452, Increase : 2.25%
Dogecoin – DOGE – Price : $0.1214, Increase : 1.83%

Highest Jumping Coins

The top three coins that have grown the most in the last 24 hours are Metaverse ALL BEST ICO – METAALLBI, Peace Doge X, and PresaleDAO – AF-PRESALEDAO. Metaverse ALL BEST ICO (METAALLBI) appreciated by 1223.37 %, while Peace Doge X increased by 743.41%. PresaleDAO (AF-PRESALEDAO) has also experienced a 477.44% increase.