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India’s Income Tax Department has intensified its efforts to curb tax evasion in the cryptocurrency sector, sending more than 44,000 notices to traders who failed to disclose their virtual digital asset (VDA) transactions in their income tax returns. Indian Tax Watchdog Ups The Ante In a recent session of the Rajya Sabha (Upper House of the Parliament), India’s Minister of State for Finance, Pankaj Chaudhary, revealed that the Central Board of Direct Taxes (CBDT) had launched enforcement actions against non-compliant crypto users. These include reassessment notices, surveys, and search-and-seizure operations under the Income Tax Act, 1961. To promote voluntary compliance, the CBDT has initiated targeted awareness efforts through its NUDGE campaign (Non-Intrusive Usage of Data to Guide and Enable). Under this program, a total of 44,057 emails and messages were issued to individuals who were found to be investing or trading in crypto assets but had not reported these transactions in their tax filings. The Indian government introduced a tax on digital asset income starting in the 2022-23 financial year. Since then, taxpayers have reported approximately ₹705 crore ($80.6 million) in crypto-linked income for FY 2022-23 and 2023-24 combined. However, enforcement actions such as surveys and raids led to the discovery of an additional ₹630 crore ($72 million) in undisclosed income related to cryptocurrencies. It’s worth noting that accusations of tax evasion have been directed not only at individual taxpayers, but also at crypto exchanges. Notably, the CBDT is leveraging data analytics tools such as Non-Filer Monitoring System (NFMS), Project Insight, and its internal databases to increase oversight of crypto transactions. The report adds: These tools help cross-reference information provided in tax filings with actual transactions reported by Virtual Asset Service Providers (VASPs) via TDS returns. Discrepancies identified through this system are followed up with enforcement actions to ensure accurate reporting and recovery of tax dues. Uncertainty Plagues India’s Crypto Ecosystem While India ranks among the top countries globally for crypto adoption, its taxation and regulatory stance have been a point of contention. The combination of a 30% tax on crypto profits and a 1% TDS on every trade has discouraged many retail traders and investors. As a result, a number of crypto exchanges in India have reported dwindling trading volumes, leading to businesses announcing layoffs or getting shut. Earlier this year, crypto exchange Bybit announced it was temporarily halting its operations in India due to lack of regulatory clarity. In contrast, neighbouring country Pakistan has shown a more receptive approach toward digital assets. Earlier this year, the South Asian country stated that it would tap excess energy to mine more BTC. Similarly, the UAE continues to cement its place as the global hub for crypto businesses. In November 2024, the nation eliminated Value Added Tax from all transactions in cryptocurrency exchanges and conversions. Despite these challenges, there are signs that India may be reassessing its approach. In July 2025, Pradeep Bhandari, spokesperson for the Bharatiya Janata Party (BJP), called on the government to explore creating a national Bitcoin reserve, suggesting potential long-term interest in integrating crypto into the financial system. Adding to the momentum, Coinbase, the largest US-based crypto exchange, is set to re-enter the Indian market later this year, signaling that global firms remain optimistic about India’s long-term crypto potential, even amid short-term uncertainty. At press time, BTC trades at $116,720, up 1.2% in the past 24 hours.
In a bold move that could reshape the crypto landscape, the US President is reportedly preparing to sign an executive order aimed at protecting access to BTC and digital assets. If enacted, this landmark policy would redefine the relationship between digital assets and the US financial system. Bitcoin Steps Into The Political Spotlight Bitcoin has officially entered the hall of power, as the US President Donald Trump is preparing to sign an executive order that would prohibit banks from refusing services to Bitcoin and crypto-related companies. This move signals a major shift in the US policy and ends years of financial censorship against the crypto industry. Related Reading: Strategy Expands Bitcoin Holdings With Massive Third-Largest Acquisition According to a crypto enthusiast, Henry, with this impending order, the crypto industry appears to be getting serious respect from the White House, after years of regulatory uncertainty and political pushback. In the coming days, Henry suggests that positive developments are on the horizon, especially involving Federal Reserve Chair Jerome Powell. This kind of attention from the highest levels of government could shake up the entire market and trigger a wave of institutional interest and volatility. If this happens, it would be more than just good news, as it would be a game-changer. Not only could it act as a major catalyst for BTC, it would also open the doors for crypto businesses to access traditional financial services, which they need for growth. Bitcoin is gaining recognition among the highest forms of governments across the world. Reports show that the Indonesian Vice President Gibran Rakabuming Raka is exploring the possibility of adding Bitcoin to the country’s national reserves, according to a recent post from Bitcoin Indonesia. The move represents a bold step toward integrating digital assets into sovereign finance. If implemented, Indonesia would become one of the first major Asian economies to formally recognize BTC as a reserve asset, signaling a shift in how governments hedge against inflation, currency risk, and geopolitical uncertainty. The global spotlight is increasingly turning to crypto adoption at the state level. The Bhutan Government Moves $59.2 Million In BTC Several countries are engaging BTC globally at a rapid rate. In a significant and quietly executed move, the government of Bhutan has transferred 517 BTC, valued at approximately $59.2 million, to a new cryptocurrency wallet. This substantial transfer of BTC, reported by Crypto Rover on X, has sparked speculation among analysts and the crypto community about potential custody changes or strategic moves. Related Reading: Bitcoin’s $115K Struggle: Is a Deeper Drop on the Horizon? The Himalayan kingdom of Bhutan has consistently maintained a low profile in the world of sovereign crypto holdings, making it one of the most discreet yet active state players in the digital asset space. This recent movement may indicate a shift toward enhanced security and measures in BTC reserves. Featured image from Pixabay, chart from Tradingview.com
On August 7, 2025, defense lawyer James K. Filan announced that the U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc. had jointly filed a dismissal of their respective appeals, bringing an end to one of the most closely followed cases in the digital asset industry. Filan shared the update on X, stating, “The parties have filed a Joint Dismissal of the Appeals. The case is over.” The Joint Stipulation of Dismissal, filed with the U.S. Court of Appeals for the Second Circuit, formally concludes both the SEC’s appeal and Ripple’s cross-appeal. The document, dated August 7 and signed by the legal representatives of both parties, confirms that each party will bear its costs and fees. This effectively terminates the litigation stemming from the original lawsuit filed by the SEC in December 2020 against Ripple Labs, Bradley Garlinghouse, and Christian A. Larsen. #XRPCommunity #SECGov v. #Ripple #XRP BREAKING: The parties have filed a Joint Dismissal of the Appeals. The case is over. pic.twitter.com/QMATRLnxnS — James K. Filan (@FilanLaw) August 7, 2025 Legal Framework and Signatories The legal notice specifically cites Federal Rule of Appellate Procedure 42(b)(1) as the basis for the dismissal. According to the filing, the Commission, Ripple, Garlinghouse, and Larsen have all agreed to the terms. Attorneys from Kellogg, Hansen, Todd, Figel & Frederick, as well as Cleary Gottlieb Steen & Hamilton LLP and Debevoise & Plimpton LLP, acted on behalf of Ripple and its executives. On the SEC’s side, the document is signed by Acting General Counsel Jeffrey B. Finnell, Solicitor Tracey A. Hardin, and Appellate Counsel David D. Lisitza and Ezekiel L. Hill. The Certificate of Service, signed by Ezekiel L. Hill, certifies that all relevant parties were electronically served through the Court’s ACMS system on August 7, 2025. Impact on Ripple and XRP This joint dismissal brings closure to the long-standing legal battle, which has significantly impacted XRP’s market position and the broader regulatory outlook for digital assets in the United States. The litigation originally revolved around whether XRP constituted a security under U.S. law, with the SEC alleging that Ripple conducted unregistered securities offerings. Ripple disputed the claims, leading to years of litigation, several partial rulings, and a great deal of public interest. With the appeals now officially withdrawn, there will be no further judicial review of prior rulings from the U.S. District Court for the Southern District of New York, presided over by Judge Analisa Torres. That decision had partially favored Ripple, ruling that XRP sales on public exchanges did not constitute securities transactions, though it held Ripple accountable for certain institutional sales. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 XRP Community’s Reaction and Industry Implications The formal end of the case marks a milestone moment not just for Ripple but also for XRP holders and the broader digital asset industry. Market participants had long awaited a resolution, as the case’s outcome had implications for token classification and enforcement actions across the sector. Responding to the announcement, the XRP community expressed a range of reactions online. One X user, Tailan, commented humorously, “I was used to this case now is going to be a bit boring who should we fight now? Bank cartels?” As the legal uncertainty lifts, Ripple can now focus on business expansion, including its global payments network and potential U.S. regulatory advancements. The SEC, for its part, appears to be shifting its focus to other digital asset enforcement cases still ongoing in various jurisdictions. The conclusion of this case clears a major legal cloud hanging over XRP and removes a critical overhang from Ripple’s operations. The digital asset community will now closely watch how this final development influences regulatory frameworks, industry innovation, and the positioning of XRP in the evolving financial landscape. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Big News for XRP: SEC and Ripple Jointly Dismiss Appeals. The Case Is Over appeared first on Times Tabloid .
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BitcoinWorld Strategic WiMi Bitcoin Investment: Nasdaq Firm Commits $212M to Crypto A remarkable development is unfolding in the world of corporate finance, directly impacting the cryptocurrency landscape. WiMi Hologram Cloud , a Nasdaq-listed entity known for its comprehensive holographic cloud technical solutions, recently made headlines with a substantial WiMi Bitcoin investment . This move signifies a growing trend among established companies to embrace digital assets, marking a pivotal moment for both the tech and crypto sectors. What Does This Strategic WiMi Bitcoin Investment Entail? According to a press release disseminated via PR Newswire, WiMi Hologram Cloud has allocated a staggering $212 million towards Bitcoin-related securities derivatives and short-term investments. This is not just a casual dip into the crypto waters; it represents a significant financial commitment from a publicly traded company. Bitcoin-related securities derivatives: These instruments allow WiMi to gain exposure to Bitcoin’s price movements without directly holding the cryptocurrency itself. This can offer flexibility and risk management options. Short-term investments: This portion suggests an intent to capitalize on near-term market opportunities within the Bitcoin ecosystem. This substantial WiMi Bitcoin investment highlights a strategic decision to diversify and potentially leverage the volatility and growth potential inherent in the digital asset space. Why Are More Firms Making Nasdaq Bitcoin Investments? The decision by WiMi Hologram Cloud to allocate such a considerable sum towards Bitcoin-related products is part of a broader trend. Many corporations are exploring cryptocurrency investment for various compelling reasons: Inflation Hedge: Bitcoin is often seen as a hedge against inflation, providing an alternative store of value in uncertain economic times. Diversification: Adding digital assets to a traditional portfolio can help diversify holdings and potentially reduce overall risk. Growth Potential: Despite its volatility, Bitcoin has shown immense long-term growth potential, attracting companies looking for higher returns than traditional assets. Technological Advancement: Investing in crypto can align with a company’s image as an innovator and early adopter of cutting-edge technologies. This growing interest from Nasdaq-listed companies like WiMi underscores the increasing legitimacy and integration of digital assets into mainstream finance. Impact of WiMi Hologram Cloud’s Strategic Move A major Nasdaq Bitcoin investment like WiMi’s sends a strong signal to the market. It suggests that even companies outside the traditional financial sector recognize the value and potential of cryptocurrencies. This kind of institutional adoption can have several positive ripple effects: Increased Legitimacy: When established companies invest, it boosts Bitcoin’s credibility among a wider audience and other corporations. Market Confidence: Large investments can instill greater confidence in the crypto market, potentially attracting more institutional and retail investors. Innovation: Corporate involvement can spur further innovation within the blockchain and crypto space, leading to new products and services. The actions of companies like WiMi Hologram Cloud are gradually reshaping how the corporate world views and interacts with digital currencies, paving the way for more widespread corporate Bitcoin holdings . Navigating the Future of Cryptocurrency Investment While the prospects are exciting, navigating the world of cryptocurrency investment still presents challenges. Volatility remains a key characteristic of the crypto market. Companies undertaking such investments often employ sophisticated strategies to manage risk, utilizing derivatives and short-term positions as WiMi has done. For individuals and institutions considering similar moves, it is crucial to conduct thorough research, understand the underlying technology, and be aware of market dynamics. The landscape is evolving rapidly, offering both significant opportunities and inherent risks. Key Takeaways for Investors: Research Thoroughly: Understand the assets and the market. Risk Management: Employ strategies to mitigate potential losses. Long-Term Vision: Consider the long-term potential of digital assets. WiMi’s substantial WiMi Bitcoin investment exemplifies a bold step by a Nasdaq-listed firm into the digital asset realm. This move not only highlights the growing institutional confidence in Bitcoin but also signals a broader shift in corporate financial strategies. As more companies explore corporate Bitcoin holdings , the line between traditional finance and the crypto world continues to blur, promising an exciting future for digital assets. Frequently Asked Questions (FAQs) 1. What is WiMi Hologram Cloud? WiMi Hologram Cloud is a Nasdaq-listed company that provides comprehensive holographic cloud technical solutions, specializing in augmented reality (AR) and virtual reality (VR) applications. 2. How much did WiMi invest in Bitcoin-related products? WiMi Hologram Cloud announced a total investment of $212 million in Bitcoin-related securities derivatives and short-term investments. 3. Why are companies like WiMi investing in Bitcoin? Companies are investing in Bitcoin for various reasons, including hedging against inflation, diversifying their corporate treasury, seeking growth potential beyond traditional assets, and aligning with technological innovation. 4. What are Bitcoin-related securities derivatives? Bitcoin-related securities derivatives are financial instruments that allow investors to gain exposure to Bitcoin’s price movements without directly owning the underlying cryptocurrency. They can include futures, options, or exchange-traded products (ETPs). 5. What is the significance of this WiMi Bitcoin investment? This significant investment by a Nasdaq-listed firm like WiMi Hologram Cloud enhances the legitimacy of Bitcoin and the broader cryptocurrency market, potentially encouraging further institutional adoption and investment. Share the Insight! Did you find this article insightful? Share it with your friends, colleagues, and anyone interested in the evolving landscape of corporate cryptocurrency investments! Your shares help us spread valuable information. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin institutional adoption . This post Strategic WiMi Bitcoin Investment: Nasdaq Firm Commits $212M to Crypto first appeared on BitcoinWorld and is written by Editorial Team
In a recent post on X, Levi Rietveld, a prominent figure at Crypto Crusaders, shared a video contrasting Bitcoin and XRP, featuring comments from Ripple CEO Brad Garlinghouse. The post was accompanied by the caption “Bitcoin vs XRP” and a direct appeal to viewers stating, “If you don’t know XRP Army, you really gotta check this out.” The video primarily focused on the environmental concerns surrounding Bitcoin mining and presented XRP’s consensus mechanism as a more energy-conscious alternative. Garlinghouse Criticizes Bitcoin’s Energy Consumption The footage showed Garlinghouse addressing the significant energy demand required for Bitcoin mining , which he said now consumes approximately one percent of global energy usage. He described this figure as a “holy shit moment”, indicating that the scale of Bitcoin’s energy consumption, particularly in light of growing environmental awareness, should be a cause for serious reflection. Garlinghouse emphasized the disconnect between Bitcoin mining practices and the ongoing push by environmental activists and organizations for greener alternatives. He questioned the logic behind continuing to expand Bitcoin’s energy consumption footprint, stating that the practice “makes no sense at all” in the context of modern environmental expectations. #Bitcoin vs #XRP pic.twitter.com/9pzRmxN0E4 — Levi | Crypto Crusaders (@LeviRietveld) August 5, 2025 XRP Ledger Built to Avoid Energy Waste The Ripple CEO acknowledged that the environmental foresight behind the XRP Ledger predated his involvement with the company. He credited the early architects of the XRP Ledger with recognizing the unsustainable trajectory of proof-of-work models. According to him, these engineers foresaw the exponential energy demands associated with proof-of-work mining and intentionally chose to implement a consensus algorithm that did not require high electricity usage for transaction validation. Garlinghouse explained that Bitcoin’s design necessitates increased computational effort as it nears its hard cap of 21 million coins. As more coins are mined, the difficulty level increases, leading to greater energy requirements. He described this compounding energy demand as a structural feature of Bitcoin that the XRP Ledger was specifically built to avoid. Alternative Consensus Mechanism Emphasized According to Garlinghouse’s statements, the XRP Ledger employs a different consensus model that is considerably more efficient. He described it in simplified terms but stressed that the energy implications were a key design decision from the outset. The consensus mechanism used by the XRP Ledger does not rely on mining; therefore, it does not require vast amounts of power to validate and settle transactions. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Rietveld Highlights Growing Crypto Sustainability Debate Rietveld’s decision to share the clip appears intended to highlight XRP’s positioning within the wider debate about cryptocurrency sustainability. By promoting Garlinghouse’s remarks, Rietveld drew attention to the contrast between XRP’s consensus approach and the energy-intensive process associated with Bitcoin. The video serves to reinforce the long-standing narrative within segments of the crypto community that XRP offers a scalable and environmentally viable infrastructure for digital payments, particularly when compared to legacy proof-of-work systems. While Bitcoin continues to be defended by its proponents as a decentralized and censorship-resistant monetary network, the concerns raised in the video bring renewed focus to the ongoing discourse around the environmental impact of blockchain technologies. Garlinghouse’s remarks, as shared by Rietveld, highlight a continued effort by Ripple and its supporters to position XRP and the XRP Ledger as forward-looking and sustainable components of the digital asset ecosystem. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple CEO Highlights XRP’s Advantage Over Bitcoin appeared first on Times Tabloid .