Income tax: Profits and losses from cryptocurrency transactions must be shown in a non-incorporated business’s accounts and are taxable/allowable under conventional income tax laws.
New Delhi: Major cryptocurrencies continued to gain following a rally in the weekend. However, investors booked profits in a couple of altcoins.
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On the downside, the zone between $67,000 and $63,750 is likely to act as a strong support. If this zone is breached, it will indicate that traders may be aggressively booking profits. The pair may then drop to the 50-day simple moving average (SMA) ($56,348).
The decentralized finance (DeFi) protocol released its highly anticipated wallet at 17:00 CET on August 28. However, less than 30 minutes after, Safemoon’s CEO John Karony posted a tweet revealing that they had encountered “technical difficulties.”
Staffordshire PoliceFraudster Jaswant Singh Kang, 38, fled to Bournemouth to avoid being caught
However, in the wake of the technical issues, the DeFi protocol has met its share of criticisms and FUD. Some Twitter users have even accused SafeMoon of scamming its users.
— “Those are among the more visible recent fruits of a well-funded campaign by Mr. Orban in the United States that stretches back a decade and now stands as a case study in how governments around the world seek to shape policies and debates in Washington, sometimes raising concerns about improper foreign influence in U.S. politics.”
In particular, the activities of miners — cryptocurrency users who leverage vast amounts of computing power to record transactions, receiving newly created cryptocurrency units and transaction fees paid by other users in return — are critical to currencies’ stability and smooth function.
The team is soon launching the network's revenue share program and the staking process. The announcement triggered a surge in the number of new investors, including many Safemoon members. Everyone wants to stake a Bitrise coin and enjoy the 80% APY as well as earn the BNB rewards for holding the token.
Bhambhwani, S., S. Delikouras, and G. M. Korniotis (2019). “Do fundamentals drive cryptocurrency prices?”, Working paper .
With a year-long spike in the community, Safemoon could trade up to $0.0000089 at the end of next year and peak near an impressive price point for 2022.
Active developers who continuously push out new features and regularly hit the milestones of their company’s roadmap do not go unnoticed in the crypto-sphere. If the market thinks your team innovates like no other, people will soon start buying your tokens, and their price will increase.
In addition, V2 features include “increased quality, security and accessibility of SafeMoon” in anticipation of what the project describes as a “warp-speed future.”
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