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Share link:In this post: India’s tax authority, the CBDT, has asked crypto platforms for input on the country’s new VDA law. Key issues include the 30% flat tax on crypto gains, the 1% TDS on every transaction, the inability to offset losses, and banks’ reluctance to support crypto-related accounts. India is exploring a comprehensive law and global alignment under the OECD’s crypto-asset reporting framework.
Share link:In this post: • Digital ruble to bring Russia’s economy $3 billion annually. • Economic effect for Russian firms estimated at $600 million a year. • Analysts warn about losses for the country’s banking system and security risks.
Share link:In this post: Google increased its stake in TeraWulf from 8% to 14% with $3.2 billion in total backing. TeraWulf signed two 10-year AI compute deals with Fluidstack for over 360 MW capacity. The Fluidstack contracts are worth $6.7 billion and could rise to $16 billion with extensions.
Share link:In this post: Roger Ver was targeted in a failed $30 million scheme to secure a Trump pardon using fake political connections. Matt Argall and Brock Pierce pitched the deal, demanding $10 million upfront and $20 million after success. The White House denied knowing about the plan, and no payments were made, according to Ver’s lawyer.
- 22:20Unichain expands support for non-EVM assets, introducing DOGE, XRP, and ZcashJinse Finance reported that, according to Uniswap Labs, its Ethereum Layer 2 network Unichain will add support for DOGE, XRP, and Zcash through the Universal protocol. Previously, Unichain had already introduced support for Solana. This expansion further breaks down the barriers between different DeFi ecosystems. The "uAssets" generated by the Universal protocol can be redeemed 1:1 for the original chain assets, and users can access or bridge assets from the original chain via the Uniswap frontend website.
- 22:14Nasdaq futures open up 1.1%, driven by Apple and AmazonChainCatcher news, according to Golden Ten Data, Nasdaq futures opened up 1.1%, driven by after-hours gains in Apple (AAPL.O) and Amazon (AMZN.O).
- 22:13The timing of stopping balance sheet reduction sends a signal; the federal funds rate remains the Federal Reserve's preferred tool.Jinse Finance reported that the Federal Reserve decided to halt its balance sheet reduction after a decline in bank reserves, indicating that officials are increasingly relying on the federal funds rate as the primary tool for implementing monetary policy and assessing liquidity conditions in the financial system. The Federal Reserve announced on Wednesday that it will stop reducing its holdings of U.S. Treasuries starting December 1. Previously, short-term money market rates had remained elevated for several consecutive weeks. Although the Federal Reserve stated it will continue to reduce its holdings of mortgage-backed securities and reinvest maturing funds into Treasury bills, it did not announce any additional liquidity measures to ease financing cost pressures.