BITCOIN

The number of Indian users on cryptocurrency exchange Binance has soared after the Indian government began levying taxes on crypto transactions. Meanwhile, daily trading volumes at some major India-based cryptocurrency exchanges are down over 90% since the new tax rules took effect. Binance Sees Record Number of Indian Users The number of Indian user sign-ups soared on global crypto exchange Binance after a 1% tax deducted at source (TDS) went into effect in July, Bloomberg reported Tuesday. The number of Binance app downloads in India jumped to 429,000 in August, the publication added, noting that this number is the highest this year. In contrast, daily trading volumes at several major India-based cryptocurrency exchanges are reportedly down over 90% since the 1% TDS took effect. Commenting on the new tax, Rohan Misra, CEO at SEBA India, a subsidiary of Swiss-based SEBA Bank AG, opined: The recent tax regulation is not explicitly clear on whether the 1% tax deducted at source

The Central Bank of Egypt (CBE) has issued a fresh warning about cryptocurrency, noting that violators could face imprisonment. The Egyptian central bank’s law “prohibits issuing, trading, or promoting cryptocurrencies, creating or operating platforms for trading it, or carrying out related activities.” Crypto Warning Issued by Egypt’s Central Bank The Central Bank of Egypt (CBE) has renewed its warning about all types of cryptocurrencies, citing a number of risks, including high volatility, use in financial crimes, and e-piracy, Egypt Independent reported Tuesday. The ECB also stressed that crypto is not issued or backed by the central bank or any other official authority. “In the same context, the Law of the Central Bank of Egypt and the Banking System — promulgated by Law No. 194 of 2020 — prohibits issuing, trading, or promoting cryptocurrencies, creating or operating platforms for trading it, or carrying out related activities,” the CBE statement reads, adding: Whoever viola

Twitter’s shareholders have overwhelmingly voted for Tesla CEO Elon Musk to take over the social media platform. “Approximately 98.6% of the votes cast at the special meeting approved the proposal to adopt the merger agreement,” the social media giant said. Shareholders Want Elon Musk to Take Over Twitter Twitter Inc. (NYSE: TWTR) announced Tuesday that its stockholders have approved the previously announced $44 billion agreement for Tesla CEO Elon Musk to acquire the social media platform. “Based on a preliminary tabulation of the stockholder vote,” the announcement reads: Approximately 98.6% of the votes cast at the special meeting approved the proposal to adopt the merger agreement. “The shareholder approval satisfies the final condition precedent to the closing of the merger under the merger agreement (other than those conditions that by their nature are to be satisfied at closing),” Twitter explained, elaborating: Twitter stands ready and willing to complete the merger w