The Indian government proposed last day that some changes be made to the Finance Bill 2022. As per a proposed amendment in section 115 BBH, the word 'other' of the provision dealing with digital asset loss compensation Virtual Digital Assets Should Be Removed Technically, this removal of the word would imply that losses from the transfer or sale of virtual digital assets cannot be offset against profits from the transfer of another virtual digital asset. Read more about it here.
Meanwhile, the city of Portsmouth, New Hampshire, USA, has decided to allow its residents to pay electricity bills using Bitcoins (BTC) and other cryptocurrencies.
The global crypto market capitalization rose by 2.71 percent to $2 trillion as of 8:50 a.m. Global cryptocurrency volume also rose 6.93% to $104.83 billion, according to data from Coinmarketcap.
NEW ๐ฅ New Hampshire's fourth largest city now allows residents to pay bills in #bitcoin and crypto ๐ฅ pic.twitter.com/LqslhDMvYB
โ Bitcoin Magazine (@BitcoinMagazine) March 24, 2022
โBitcoin (BTC) and other major cryptocurrencies have been in the green for the last 24 hours. The market leader is trading above $43,000 and Ether above $3,100. BTC continues its bullish momentum after breaking the resistance at $43,500 for a short while. Currently, the uptrend appears to be a result of Russia's announcement that the country could accept Bitcoin from countries with which it has good relations, as a form of payment for oil and other resources,โ says Gaurav Dahake, CEO and founder of Bitbns. .
cryptocurrency prices
Bitcoin (BTC), the oldest cryptocurrency in the world, was trading at $43,967.62, up 2.63% in the last 24 hours.
Ethereum (ETH), the second largest cryptocurrency by market cap, was also trading up 3.77 percent at $3,137.90.
Among other major coins, Cardano (ADA) was up 5.93% to $1.16, Algorand (ALGO) was up 9.53% to $0.9101, Binance Coin (BNB) was up 1.67% to $414.50, Sunshine (SUN) down 9.29 percent at $103.83, and Polkadot (DOT) was also trading up 1.13 percent at $21.15.
Today's biggest gainer was HOQU (HQX), which was up 498.79 percent at $0.01088. The main loser was Genie Protocol (GNP), which was down 98.52 percent at $0.001535.
Meme Coin and DeFi Prices
Dogecoin (DOGE) was up 0.69 percent at $0.1359. Its ratio between volume and market capitalization stands at 0.08393. Rival Shiba Inu (SHIB) was also up 0.39 percent at $0.00002464.
Dogelon Mars (ELON) traded 5.45% higher at $0.0000007806, Floki Inu (FLOKI) was up 5.82% at $0.00003764, while Samoyed Coin (SAMO) gained 7.81% at $0 .02018.
In the DeFi segment, YFI (yearn.finance) traded up 5.4 percent at $21,424.90. However, Terra (LUNA) was down 0.94% at $93.60. On the other hand, Avalanche (AVAX) gained 2.51 percent to $86.65, Uniswap (UNI) rose 7.5 percent to trade at $10.85, and Aave (AAVE) lost 7.14 percent. cent to $167.09.
Latest updates
Crypto tax is a brake on the industry in India. โWe fear that the lack of provisions to offset losses will drive users away from KYC-compliant exchanges and platforms into the peer-to-peer gray market, which would defeat the purpose of the new tax,โ says Ashish Singhal, co-chair of the Blockchain and Crypto Assets Council. (BACC) and founder and CEO of CoinSwitch Kuber, in a statement.
SportsIcon, an NFT platform, has shared its plans to introduce a sports metaverse world where fans can interact with their favorite athletes. Romelu Lukaku, a striker with English Premier League football club Chelseasaid, "In The sports metaverse, I'll show you how to take a penalty, one of the hardest moments in my job," Coindesk reported.
Deaglan McEachern, Mayor of the City of Portsmouth, said: โThere are waves of new things that are going to affect us in terms of our future that use the kind of technology that is used in cryptocurrencies. I want to make sure that Portsmouth is not left waiting to see how this will affect us in the future because it is already affecting us,โ Seacoastonline reported.
