#LitecoinETF Crypto analyst EXCAVO suggests Litecoin ETFs could send LTC’s price soaring to $800 by the end of this bull cycle. While Litecoin may lack tech innovation, its decentralization and growing adoption make it a prime candidate for ETFs. Grayscale, Canary Capital, and CoinShares have already applied for SEC approval. According to Bloomberg, there's a 90% chance of approval! 🚀 #Litecoin #Crypto #LitecoinETF #BullCycle
What do you think Since $BTC is also going up Shall I keep these trades or exit
Although I have set up stop loss which is above the buying price so in no case I am going to make loss on these trades Let's see how much dollars I can fetch today
Trump Signs Executive Order to Establish Working Group on Cryptocurrencies
On January 23, 2025, US President Donald Trump signed a landmark executive order in the Oval Office, establishing the President’s Working Group on Digital Asset Markets. The group, led by venture investor and Trump-appointed 'Crypto Czar' David Sacks, will include key figures such as the Secretary of the Treasury and the Chairman of the Securities and Exchange Commission. This move aims to position the United States as the global leader in cryptocurrency and blockchain innovation.
The newly formed group is tasked with evaluating existing regulations impacting the digital asset sector and making recommendations to modify or rescind outdated policies. The directive emphasizes that the digital asset industry plays a crucial role in the nation's innovation and economic development, asserting that the policy of the Trump administration will support the responsible growth and use of digital assets.
David Sacks, who was appointed as the White House AI and Crypto Czar in December 2024, discussed the importance of this executive order. He noted that it fulfills Trump’s campaign promise to be the "first crypto president" and aims to create a regulatory environment conducive to crypto innovation. Sacks criticized the previous administration, claiming that Biden’s regulatory approach had driven crypto companies offshore by offering unclear rules, stifling industry growth.
The working group will also look into the potential creation of a national digital asset stockpile, which could include cryptocurrencies seized by the US government. Additionally, the order explicitly prohibits the establishment of central bank digital currencies (CBDCs) under Trump’s administration.
Trump’s vision for the US to become the global crypto hub is clear: by halting "aggressive enforcement actions" and streamlining regulations, his administration aims to foster a thriving digital financial technology landscape.
Union Budget 2025: New Crypto Tax Proposals and What They Mean for Traders
In a significant development from India’s Union Budget 2025, cryptocurrency has been brought under Section 158B of the Income Tax Act, which addresses “undisclosed income.” This move introduces block assessments for crypto traders, empowering government agencies to investigate unreported crypto income, potentially imposing a hefty tax penalty of up to 60% for non-disclosure.
This retrospective measure, set to apply from February 1, 2025, will drastically increase the risk for retail crypto investors or traders who fail to report their earnings. Under block assessment, taxes are levied over multiple years, significantly escalating the financial consequences. Meyyapan Nagappan, Partner at Trilegal, pointed out that this shift will likely encourage traders to transact through regulated exchanges that withhold taxes, ensuring compliance with tax laws.
Moreover, India’s inclusion in the Crypto Asset Reporting Framework (CARF), as per the G20 declaration, mandates automatic exchange of tax information on crypto-assets across 52 jurisdictions. Alongside, the definition of “crypto asset” has been updated, recognizing it as a digital value secured by cryptographic technology, applicable from April 1, 2026.
Despite these advancements, there is no relief on high taxes in the sector. The current tax regime includes a 30% tax on crypto income and a 1% TDS on crypto transactions exceeding ₹10,000. These taxes have led to a sharp decline in trading volumes on Indian exchanges, with losses of up to 90% since their introduction in 2022.
While traders were hoping for tax reductions to foster participation, concerns remain over the continued disparity between compliant domestic exchanges and non-compliant international ones, particularly regarding the TDS provisions. The crypto community continues to await further adjustments to encourage growth while balancing regulatory oversight.
Crypto-Stealing Apps Found in Apple App Store: What to Do if You’ve Installed Them
In a disturbing new development, Kaspersky researchers have uncovered malicious apps in both the Apple App Store and Google Play Store, designed to steal cryptocurrency wallet recovery phrases using optical character recognition (OCR) plugins. This marks the first time such malware, named "SparkCat," has been discovered in the Apple App Store, although it has been active since March 2024 and previously found on Google Play, where it was downloaded over 242,000 times.
The SparkCat malware uses the Google ML Kit library to scan device galleries for sensitive information, including recovery phrases for cryptocurrency wallets. Once it detects relevant text, the malware sends these images to a remote server controlled by hackers. Both Android and iOS versions of the malware work similarly, using OCR technology to steal private data.
If you’ve installed one of these infected apps, Kaspersky recommends uninstalling it immediately and avoiding the use of the app until a patch is released. It's also essential not to store sensitive information, like cryptocurrency recovery phrases, in your device gallery to reduce the risk of exposure.
As cyber threats targeting cryptocurrency holders continue to evolve, users must remain vigilant and take proactive measures to protect their digital assets.
#libra Token Co-Creator Claims to Have Paid Argentine President's Sister for Influence
In a shocking revelation, Hayden Davis, co-creator of the Libra token, allegedly boasted in text messages about buying influence over Argentine President Javier Milei by paying his sister, Karina Milei, a powerful figure in the president's government. Davis claimed in December that he could control Milei's actions by making payments to Karina, stating that "he signs whatever I say and does what I want."
The claims add a new layer to the growing anti-corruption investigation into Milei's involvement with the Libra memecoin, which was launched amid great hype but quickly crashed, wiping out millions of dollars in investments. While Davis has denied making any payments and dismissed the allegations as politically motivated, the scandal, dubbed "Criptogate" in local press, has raised serious questions about the behind-the-scenes dealings surrounding Libra’s controversial launch.
Davis' company, Kelsier Ventures, was a major beneficiary of Libra's brief success, making over $100 million in the token's early hours before it plummeted. The incident has sparked outrage in Argentina, with opposition leaders threatening impeachment proceedings against Milei.
As the investigation unfolds, this case serves as a stark reminder of the risks and potential corruption surrounding the intersection of politics and cryptocurrency. The Libra saga continues to capture attention, as both Davis and Milei’s inner circle face increasing scrutiny.
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