BTC parsing

Bitcoin's quiet rally over the past two weeks has not only pushed past the key $45,000 level, it has also allowed the world's largest cryptocurrency to regain all the ground it lost this year.

India has tightened regulations on cryptocurrencies, not allowing losses on one digital asset to offset revenue from another version, the country's finance minister said on Monday.
Finance Minister Pankaj Chaudhary told lawmakers in parliament that the government would not allow a tax deduction for the infrastructure cost incurred when mining cryptocurrency assets as it would not be considered an acquisition cost. It was previously reported that the Indian Parliament passed a crypto tax proposal, which will levy 30% capital gains tax and TDS on crypto transactions. India's crypto tax law will come into effect on April 1.

March 28 - The UK government is reportedly planning to announce a new regulatory regime for the cryptocurrency market in the coming weeks, with a focus on stablecoins.
Stablesoin usage has grown exponentially over the past few years, along with broader interest in cryptocurrencies. Tether, the world's largest stablecoin, now has a total circulating supply of more than $80 billion, up from about $4 billion two years ago.
But the tokens have also raised concerns among regulators that they may not be fully backed by the same amount of reserves and used for money laundering and other illegal activities.

BTC Liquidity Tightens as Bitcoin Held by Exchanges Hits 6-Month Low

India's finance minister first announced amendments to existing laws in February, which proposed a 30 percent tax on digital asset transactions.
A cryptocurrency tax proposal by India's Finance minister Nirmala Sitharaman could soon become law, as the country's lower house of parliament is scheduled to consider the legislation on Thursday.
It was reported on Wednesday that Sitharaman would present the appropriations and Finance Bill for 2022 to the Lok Sabha on Thursday. The finance bill includes an amendment to the country's income tax law that identifies "virtual digital assets" -- including cryptocurrencies and non-homogeneous tokens -- as taxable investments.
In February, India's finance minister first announced amendments to existing laws, proposing a 30 per cent tax on digital asset transactions. Sitharaman added at the time that losses from crypto trading would probably not qualify for tax offsets from any profits. In addition, no deductions are allowed "other than acquisition costs" when calculating income.
Under this tax calculation, traders might have to pay a 30 per cent tax on gains in cryptocurrencies such as Bitcoin and Ethereum, but losses would not be taken into account if the value of the coins fell. According to Cointelegraph, many experts have criticized the proposal, which will take effect On April 1 after it is discussed on Thursday.
If you lose money on Bitcoin, you can't offset it with profits from Ethereum. The new tax law was clarified in parliament today.
My recommendation is to sell all of your assets by March 31, 2022. And then start again in April 2022.
Mining costs are not deductible!
-- Naimish Sanghvi () March 21, 2022
The finance Bill 2022 will soon be debated and passed.
We urge the government to reconsider these unfair new taxes and hope that they make corrections and tax them like technology taxes.
-- Aditya Singh () March 23, 2022
The crypto tax policy appears to be a legislative alternative to a previously proposed bill to ban "private cryptocurrencies" in India. The Indian Parliament is not scheduled to hear discussion of the cryptocurrency bill during the budget session, which ends on April 8, according to the lok Sabha's recently published business list.
India, a country of about 1.4 billion people, has yet to establish a concrete regulatory framework for digital assets following the country's Supreme Court's decision in 2020 to lift the RBI's ban on banks dealing with crypto companies. The tax proposal currently under consideration appears to be the closest the cryptocurrency market has come to gaining some kind of legal status in India. (Cointelegraph)