A Study by the Swedish tech company Divly has revealed that the overwhelming majority of crypto owners worldwide are not paying taxes on their holdings. As per the paper, less than 1% of crypto investors paid tax in 2022. Specifically, the report revealed that just 0.53% of investors globally declared their crypto activity to local…

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US pharmaceutical giant Johnson & Johnson proposed an $8.9 billion settlement to resolve years-old lawsuits claiming that its talcum powder products caused cancer. The $8.9 billion payout would be one of the largest product liability settlements ever in the United States, if approved by the bankruptcy court and a majority of the plaintiffs, The New…

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Big-4 accounting firm EY has been banned from auditing companies of public interest in Germany for two years over its failures as the auditor of Wirecard in the years before the digital payments company’s staggering collapse. The ban forbids the auditor from participating in tenders for audits of certain companies for two years. This includes all listed…

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From 1st April 2023, for online gaming platforms like Dream11, Rummy Circle or Mycircle11 , a tax of 30% will be levied on net winnings, even if the winning is under Rs 10,000. Earlier Companies used to keep winnings below Rs. 10,000 in order to evade taxes. As per the new TDS (Tax deducted at…

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After Elon Musk announced removing Twitter’s verified legacy users on April 1, many known celebrities and personalities have refused to pay $8/month for a verified checkmark next to their name. On the other , This “Verified for Organizations” programme is now available globally, but several businesses worldwide are not willing to pay the $1,000 monthly fee to retain…

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Markets regulator Securities and Exchange Board of India (Sebi) is reportedly looking into possible violation of ‘related party’ transaction rules in the Adani Group’s dealings with at least three offshore entities, which are said to have links to Adani group founder Gautam Adani’s elder brother, Vinod Adani. The three entities allegedly entered into several investment…

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Italy temporarily blocked access to ChatGPT, and now the country’s data privacy regulator said it would begin an investigation into the company behind the popular chatbot, OpenAI. In a news release, the Italian Data Protection Authority ordered the immediate ban on ChatGPT in the country and listed its concerns with the chatbot.  No legal basis for Personal Data Collection…

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Recently China and France completed its first Yuan-settled LNG trade, signaling the end of using the US Dollar for these energy trades. China and Brazil have reached a deal to trade in their own currencies, ditching the US dollar as an intermediary, Russia, China, Iran and Saudi Arabia are moving away from the US Dollar.…

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The Adani Group is again embroiled in a new controversy since late January, when U.S.-based activist investor Hindenburg Research accused the group for stock manipulation. Now an investigative report by Indian business news outlet The Ken raised questions about the group’s claim about repaying $2.15 billion in loans borrowed against its stock earlier this month. According to the detailed…

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Now the world’s biggest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Commodity Futures Trading Commission (CFTC) for operating what the regulator alleged were an “illegal” exchange and a “sham” compliance program. The CFTC sued Binance, Zhao and its former top compliance executive with “willful evasion” of U.S.…

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