Major cryptocurrencies were trading in the green early on October 4 as the global crypto market-cap (MCap) increased 1.26 percent to $941.17 billion, over the last day. On the other hand, the total crypto market volume jumped 17.87 percent over the last 24 hours to $52.54 billion. The total volume in DeFi stood at $4.05 billion, which is 7.71 percent of the total crypto market 24-hour volume. The volume of all stable coins was $49.28 billion, which is 93.79 percent of the total crypto market 24-hour volume. Read full here
Things to keep in mind while choosing a crypto tax calculation software
In India, where cryptocurrency is still at an evolving stage, crypto tax calculation is not something that comes easy. While many software programs are being released to make crypto tax calculations simple, there are things that investors need to keep in mind while using them. Starting July 1, buyers of digital assets in India are required to pay a 1 percent tax on the amount payable to sellers. This is in addition to a flat 30 percent income tax on earnings from cryptocurrencies that started on April 1. Read details here
Kim Kardashian to pay $1.3 million to SEC over crypto touting
Kim Kardashian will pay $1.26 million to settle Securities and Exchange Commission allegations that she broke US rules by touting a crypto token without disclosing she was paid for the promotion. The SEC said Kardashian was paid $250,000 to post on her Instagram account about EMAX tokens, a crypto asset offered by EthereumMax. Khardashian didn’t admit or deny the regulator’s allegations in settling the case. The SEC has frequently warned that celebrities touting cryptocurrencies that it deems securities need to make clear to investors if they’re paid for the backing. In 2018, the regulator fined Boxer Floyd Mayweather and music producer DJ Khaled for failing to disclose payments they received for hyping initial coin offerings. Take a look
