Monday, 16 May, 2022

Topic: Bitcoin

Bitcoin drops below $41,000 over rising tensions between Russia and Ukraine

The biggest cryptocurrency on market dipped 7.4%. Ether, the second-largest token fell 8.2% and Polkadat, also known as altcoins, led to a downturn in smaller-cap tokens.

India doesn’t understand crypto enough to pass regulatory law. Here’s all you need to know

India’s initial policy response was to ban cryptoassets. Now it appears to be moving towards regulating them. But there is no clarity on the contours of the proposed law.

Digital currency continues to decline wiping out over $1 trillion in market value

Bitcoin lost over 12% Friday and dropped below $36,000. Since its peak last year in November, it has lost over 45% of its value. Ether & meme coins are mired in similar drawdowns.

Bitcoin slumps to lowest level since December’s flash crash

The cryptocurrency dropped to as low as $42,505 in early Asia trading on 6 January; the lowest since it touched $42,296 during a weekend crash at the start of December 2021.

RSS-linked Swadeshi Jagran Manch wants cryptocurrency banned, says it’s used by terrorists

Swadesh Jagran Manch asks RBI to launch its own digital currency, says in resolution that virtual currencies damage financial market, help evasion of taxes.

India has no proposal to recognise Bitcoin as currency: Nirmala Sitharaman in Parliament

Sitharaman said the Modi govt doesn't collect data on Bitcoin transactions. Centre plans to introduce cryptocurrency bill that seeks to ban all but a few private cryptocurrencies.

Modi govt must not ban cryptocurrencies. But regulation shouldn’t be slack either

The revenue generated from cryptocurrencies can be an incentive for the Modi government to allow this trade with restriction rather than ban it and lose the 'sin tax'.

Bitcoin scandal can’t be buried as PM Modi reminds Bommai of priority — clean government

Karnataka CM claimed after last week's meeting with PM that while bitcoin scandal was discussed, Modi told him to 'not worry'. Now ministers say PM sought clarifications.

Sriki-Bitfinex scandal exposed gap in crypto exchange. Govt must pass innovation-friendly law

Parliamentary Committee on Finance to evolve a consensus on crypto regulation. The question is—what should it look like?

Multi-crore scam or hearsay-driven panic — what we know about Karnataka bitcoin scandal

Congress has trained guns on BJP over the alleged bitcoin scam in Karnataka. But CM Bommai has described it as a non-issue and prime suspect wants journalists to 'chill'.

On Camera


Pakistan Prime Minister-elect Shehbaz Sharif on 7 April | Photographer: Aamir Qureshi/AFP/Getty Images via Bloomberg

The four-point plan to revive Pakistan’s economy—from land reform to real estate

Pakistan must reduce non-productive expenditures like defence. The country's political economy has been overdetermined by the imperative of 'national security'.

Bad timing could hamper LIC IPO

Most early public enterprise IPOs have been trading 75% below their original price, small investors concerned.


Representational image of army personnel in Ladakh | ANI

India ‘doesn’t foresee’ border fighting with China, but ‘won’t back down’ if tensions reignite

Aim is to ensure not just disengagement of troops, but overall de-escalation. Govt in favour of solving tensions through talks as it wants peace with all neighbours including China.

How Congress is like the Ambassador & why Indian politics needs a brand new set of wheels

Like the car, nothing the party has done to reinvent itself has worked. Only way forward is to offer something looking towards the future, not in image of glorious past.