EU Lawmakers Vote To Outlaw Anonymous Crypto Transactions – March 31

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $45,814

Bitcoin price has tumbled almost 3% to begin Thursday, currently sitting below $46,000 after failing to hold its recent range.

Top-20 altcoins have also taken a hit, as Ethereum falls 3%, BNB drops 5% and XRP takes a 7% hit.

Top Stories for March 31, 2022 πŸ”₯

πŸ‘‰ EU Lawmakers Vote To Outlaw Anonymous Crypto Transactions

European Union lawmakers have voted in favor of new rules that outlaw anonymous cryptocurrency transactions of any size.

The measures look to extend the scope of anti-money laundering requirements to crypto, enforcing the identification of all transactions regardless of size or the nature of the wallet (unhosted or self-hosted).

The proposals still must be agreed upon by parliament and national ministers before it is passed into law.

πŸ‘‰ New Indian Law Charges 30% Tax On Crypto

A new crypto tax policy in India will come into effect April 1st, imposing a 30% tax on digital asset holdings and transfers. The law is based on existing gambling and lottery ticket tax rules.

Additionally, there will be a 1% tax deduction at source (“TDS”) on each trade, and traders will not be able to offset their losses against profits. Each trading pair will be considered independently for tax deductions.

πŸ‘‰ Binance Partners With Grammy Organization For Web3 Solutions

Crypto exchange giant Binance has partnered with the Recording Academy – the organization behind the Grammy Awards – to bring web3 solutions to the music community.

Specific details of the partnership have not yet been disclosed, however it was clarified that non-fungible tokens (NFTs) were not involved in the deal.