Crypto Market Overview March 31th | Dex-Trade

Crypto Market Overview March 31th | Dex-Trade

Crypto Market Overview – March 31th, 2022

 

Ukraine Launched The Sale of NFTs About Horrors of Military Aggression by RF

In the Ukrainian NFT museum Meta History: Museum of War, the opening of which was announced the week before last by the Ministry of Digital Transformation of the country, first exhibit tokens began to appear, which can already be purchased at a price of 0.15 ETH (about $510) apiece. Each token of the collection represents one of the latest news about the war crimes of the Russian Federation committed against the Ukrainian people. At the same time, all presented news is confirmed and covered not only by Ukrainian media, but also by international authoritative publications, media and TV channels, same as illustrations for them were created by Ukrainian and foreign artists. The collection of tokens will continue to grow during the war. The exhibits arrive at the museum in chronological order and, as a result, will be a kind of “transcript of the war”, with the help of which it will be possible to “preserve the memory of the real events of that time, to spread truthful information among the digital community in the world, and to collect donations for the support of Ukraine.” “We will never let any single day of this period disappear from the ledger of world history.”— posted on the project website. Recall that the funds raised through the Meta History: Museum of War initiative will be directed to state humanitarian organizations to help victims of war, as well as to purchase supplies for Ukrainian soldiers who continue to defend Ukraine from russian invaders.

 

US Senator Proposes Banning Consumers From Using CBDCs

U.S. Senator Ted Cruz introduced an amendment to Representative Tom Emmer's January 2022 bill that would bar the country's Federal Reserve System (FRS) from distributing the still-in-development central bank digital currency (CBDC) to individuals. The amendment calls for a complete ban on the Fed from developing CBDCs for direct consumer use because it "could be used as a financial surveillance tool by the federal government, similar to what is currently happening in China." ‘‘No Federal reserve bank may offer products or services directly to an individual, maintain an account on behalf of an individual, or issue a central bank digital currency directly to an individual.” — stated in the commentary to the amendment. Thus, the bill will be aimed at maintaining the dominance of the dollar without competition from the private sector. Additionally, the Republican senator clarified that his bill was designed to make “sure big government” doesn’t try to centralize and control crypto assets. According to him, this will expand the rights and opportunities of entrepreneurs and improve the conditions for promoting innovation in the country.

 

Indian Authorities Will Begin to Levy Gigantic Taxes on Crypto Owners

The upper house of the Indian Parliament has passed the Indian Finance Bill 2022 with new rules for taxing cryptocurrencies at 30%, which will now take effect on April 1st. New rules will be in effect during 2022-2023. In accordance with them, the crypto will be equated with gambling and lotteries, so it will be taxed both for storage and for any types of transactions. Traders will no longer be able to offset their losses with profits, and the tax deduction will be made separately for each trading pair. On top of the 30% tax levy, the government has also introduced a 1% withholding tax deduction at source (TDS) on every transaction, claiming it will help them track funds. However, exchange operators warned that 1% TDS would drain asset liquidity. The new law was supposedly created on mutually beneficial terms with crypto service providers and stakeholders, but ultimately did not take into account any of their points of view. Therefore, India has officially lost investment attractiveness for the crypto community.