As reported on Bloomberg, India may soon levy an 18 percent Goods and Services Tax (GST) on cryptocurrency trading, notwithstanding their legal ambiguity in the country. Currently, the proposal is being considered by the Central Board of Indirect Taxes and Customs, and shall be presented before the GST council after it’s finalized. Continue reading India May Levy 18 Percent Tax on Cryptocurrency Trading
The Litecoin community is buzzing about upcoming Litecoin hardfork that will produce a new digital asset – Litecoin cash. According to the announcement on the bitcointalk forum on February 3, Litecoin developers team is preparing a fork that will take place on Sunday, February 18 (at first it was scheduled on February 19). Anyone holding Litecoin will get ten times that amount of Litecoin Cash. Litecoin fans are puzzled as they do not see any clear reason for this branching out. Unlike Bitcoin, it has never experienced issues either with transaction time or with high fees. While fork does not solve any practical problems encountered by cryptocurrency users, it will be convenient for legacy Bitcoin SHA256 mining hardware users. The team behind the fork is anonymous: no full names, no links to social media accounts are provided, which is also rather suspicious.
According to a new investment thesis released by Grayscale Investments, the value of Zcash (ZEC) could reach over $62,000 by 2025, assuming that the coin will represent 10 percent of all offshore wealth by that point.
Zcash is an anonymity-focused digital currency that uses zero-knowledge proofs to verify the validity of a transaction without revealing its contents, giving it appeal as a “Swiss bank account in [your] pocket.”, as Grayscale phrases it.
Grayscale Investment specifically manages investments in digital assets, overseeing both Bitcoin (BTC) and Ethereum Classic (ETC) funds, the latter added to their portfolio in April 2017.