(Reuters) -Walmart Inc said on Monday that a press release announcing a partnership with litecoin, which briefly led to a nearly 30% surge in the cryptocurrency’s price, was fake. The retailer said it was looking into how such an announcement, which was published by press release distributor GlobeNewswire, was issued earlier in the day. “Walmart…
The Indian government is looking to tax cryptocurrency trades and ecosystem in the country, news website ET Now tweeted on Monday, citing sources. . The tax department is in favour of taxing crypto exchanges and trades and the government feels that any activity that generates income must pay tax, ET Now reported (This story has…
U.S. officials are discussing launching a formal review into whether Tether and other stablecoins threaten financial stability, scrutiny that could lead to dramatically ramped-up oversight for a fast-growing corner of the crypto market. After weeks of deliberations, the Treasury Department and other federal agencies are nearing a decision on whether to launch an examination by…
Bitcoin nursed losses Wednesday after plunging amid El Salvador’s troubled rollout of the largest cryptocurrency as legal tender. The virtual coin was trading near $46,150 as of 6:31 a.m. in New York, having slid as much as 17% a day earlier before paring some of the losses. The downdraft also swept across tokens such as…
HONG KONG (Reuters) – The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc if the crypto exchange goes ahead with plans to launch a programme allowing users to earn interest by lending crypto assets, Coinbase said on Wednesday. The SEC has issued Coinbase with a Wells notice, an official way…
NEW YORK (Reuters) -The price of cryptocurrencies plunged and crypto trading was delayed on Tuesday, a day in which El Salvador ran into snags as the first country to adopt bitcoin as legal tender. Shares of blockchain-related firms also fell as crypto stocks were hit by trading platform outages. But the major focus was on…
El Salvador on Tuesday became the first country to adopt bitcoin as legal tender, although it suffered teething problems when the government had to unplug a digital wallet to cope with demand. President Nayib Bukele, who pushed for adoption of the cryptocurrency, called for help from users who had already downloaded the government-backed app, to…
Former RBI deputy governor R Gandhi on Tuesday made a case for treating and regulating crypto as a separate asset class with a view to enabling governments around the world to effectively deal with illegal activities associated with virtual currencies. After quite a lot of debate over the years, he said, people have fully understood…
Bitcoin is undergoing the biggest test in its 12-year history as El Salvador becomes the first country to adopt it as legal tender Tuesday. Both enthusiasts and detractors of crytocurrencies will be monitoring the experiment to see if a significant number of people want to transact with Bitcoin when it circulates alongside the U.S. dollar,…
El Salvador is betting that this week’s pioneering adoption of Bitcoin will spur its economy, especially one of its most crucial sources of revenue: money sent home by Salvadorans in the United States. A fervent proponent of the cryptocurrency, President Nayib Bukele has asked the more than 2 million Salvadorans who live overseas to send…
