Several significant events have unfolded in the crypto market today that may influence the future of the sector.
India Pushes for Smarter Crypto Laws
India is taking steps to improve legislation for crypto investors. The tax service is consulting with local exchanges on rules for decentralized assets and reviewing the 1% tax at source. This step may help reduce the migration of users to foreign platforms and boost domestic innovations. With over 10 million Indians involved in crypto, transparency in regulations can make trading safer and more profitable.
Coinbase Wallets Hit 1M Users
Coinbase's wallet has crossed a significant milestone, surpassing 1 million users since the launch of the Base app. Within the current month, 270,000 new accounts are created in a single day, highlighting the growing interest in secure wallets. The simple setup and added decentralized finance tools make it accessible for both newcomers and experienced digital asset users.
Lykke Hack: $22.8M Stolen by Lazarus Group
The Lykke crypto theft, amounting to $22.8 million, has been linked to the Lazarus Group from North Korea. The attack led to the platform's collapse and left investors seeking compensation in UK courts. Experts suggest this could become the largest North Korea-related heist from a UK company to date.
Stay informed about the latest happenings in the crypto world by keeping up with market news and trends. Understanding these developments can facilitate more informed decision-making.
