Early on March 14, cryptocurrencies were trading in the green. The worldwide crypto market capitalization is now USD2.00 trillion, up 2.74 percent from the previous day. The overall crypto market volume over the last 24 hours has increased by 8.83 percent to USD106.81 billion.
The entire volume in DeFi is currently USD13.43 billion, accounting for 12.57 percent of the overall 24-hour volume in the crypto market. The overall volume of all stablecoins is now USD88.49 billion, accounting for 82.84 percent of the total 24-hour volume of the crypto market. Bitcoin's price is currently Rs 33.88 lakh, with a 41.89 percent market share. According to CoinMarketCap data, this represents a 0.14 percent increase over the previous day.
Refering to other news, the government suggested on March 24 to tighten taxation rules for cryptocurrencies by prohibiting any losses from being offset against profits from other virtual digital assets. The ministry proposes to delete the word "other" from the clause relating to set-off of losses against gains in virtual digital assets, according to revisions to the Finance Bill, 2022, distributed among Lok Sabha members. This means that a loss resulting from the transfer of virtual digital assets (VDA) cannot be offset against a gain resulting from the transfer of another VDA.
Finance Ministry proposes amendments, tighten norms for cryptocurrency taxation
UNCTAD downgrades India's GDP growth to 4.6pc due to ongoing war in Ukraine
