India is reevaluating its cryptocurrency policy, introducing a 30% tax on profits from crypto transactions and a 1% Tax Deducted at Source (TDS) on each transaction. This move aims to regulate the burgeoning crypto market while generating revenue. Meanwhile, the crypto landscape sees significant developments: Bitcoin and Ethereum ETFs have attracted $655 million in inflows following the SEC’s approval of Bitwise’s new combined fund. In Hong Kong, XRP did not make the cut on the list of approved cryptocurrencies by regulators, potentially impacting its market position. Additionally, there’s a buzz around stablecoins and DeFi, with predictions for 2025 suggesting smart accounts and AI-driven trading will evolve significantly. These statistics highlight the dynamic nature of cryptocurrency regulation and market trends.
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