The volume of all stable coins is now $120.20 billion, which is 80.71 percent of the total crypto market 24-hour volume.
China’s central bank said on Monday it had recently summoned some banks and payment firms, including China Construction Bank and Alipay, urging them to crack down harder on cryptocurrency trading.
The situation in China has perhaps exacerbated this, along with the increased rate of adoption of altcoins by new users, following tweets of various crypto personalities,” said Iqbal Gandham, vice president of transactions at Ledger, a digital asset management solution.
The tax department is examining whether the 2 percent levy is applicable on cryptocurrency assets bought online by Indians from overseas exchanges after India in 2020 expanded the scope of equalisation levy to cover ‘e-commerce supplies or services’.