Category: Web3

Small Towns in India Are Killing It in Crypto

Summary: India’s no stranger to online market and cryptography as India’s small cities are also getting involved and getting well versed in blockchain technology, turning heads even with high taxes and a lack of clear regulations. From meme coins to Bitcoin, these towns are proving that the crypto buzz isn’t just for metro elites.

Small Towns, Big Moves

Forget Mumbai and Delhi; places like Patna, Jalandhar, and Guwahati are where the real crypto action’s at. According to The Times of India, these Tier 2 and 3 cities are brimming with young investors who are all about Bitcoin and meme coins like Dogecoin and SHIB. Despite the 30% tax on gains and the annoying 1% TDS rule, these crypto enthusiasts aren’t sweating it. They’re in it for the thrill, the gains, and let’s be real, the clout.

YOU MIGHT ALSO LIKE: Trader Transforms $712 Investment into $3.95M Jackpot with UFD Memecoin

The Meme Coin Mania

Meme coins are the MVPs here, making up about 13% of India’s total crypto investments. Dogecoin, with its Elon Musk-approved vibes, is a crowd favorite, while SHIB dominates trading. It’s no surprise that most of these investors are under 35 they’ve grown up in the digital age and are all about YOLO-ing their way into the future of finance.

YOU MIGHT ALSO LIKE: Are Terrorists Using Trump’s Crypto Venture? Here’s What’s Up

Crypto vs. Taxes: The Showdown

Sure, the Indian government isn’t making it easy. With sky-high taxes and no proper regulatory framework, the crypto space feels like the Wild West. But that hasn’t stopped these young hustlers. They’re navigating the chaos, staying hyped about what’s next, and proving that even small towns can make big crypto waves.

Fake Uber Driver Caught Stealing $300K in Crypto

An Arizona man, Nuruhussein Hussein, was arrested for stealing over $300K in crypto by pretending to be an Uber driver. His targets included distracted or drunk passengers from which he stole their private keys, and transferred crypto to his own wallet without them noticing. He’s facing serious charges right now, including fraud and money laundering.

A fake Uber driver in Arizona has been busted for stealing over $300,000 in cryptocurrency from unsuspecting passengers. Nuruhussein Hussein would pick up drunk or distracted riders, pretend to be their Uber driver, and then pull off a sneaky scam. He’d ask his victims for their phones, claiming he needed to check directions or link his Uber app, and then transfer their crypto to his own wallet without them realizing.

Hussein used some serious tech skills, stealing private keys and making shady, undetectable transactions on the blockchain. By the time victims figured out what had happened, their crypto was long gone. The guy didn’t even leave a trace—he’d send the funds to wallets that couldn’t be tracked.

He’s now locked up in Maricopa County Jail facing felony charges, including theft, fraud, and money laundering. The Scottsdale Police Department, along with the Secret Service, is still investigating how Hussein pulled off this high-tech scam. He’s set to appear in court for a bond hearing on December 18. So, if you’re planning to hop in an Uber, maybe double-check your driver next time—it could save you a ton of cash!

You might like : $PENGU Token Crashes Amid $8.74M Sell-Off Frenzy

UK Government Invites Public Input on AI Training and Copyright Regulations

The UK is asking for public input on AI training and copyright laws by proposing options like free use of copyrighted work, opt-out rights for creators, or stricter licensing. Creators fear AI companies could exploit their work unfairly, sparking debates about balancing innovation with protecting creative rights. Feedback’s due by Feb next year.

The UK government is stirring up the AI and creative industries with a new consultation aimed at rethinking copyright laws. Launched on December 17, this initiative invites public feedback on how AI models should handle copyrighted materials. With responses open until February 25, 2025, the debate is heating up.

Peter Kyle, the UK’s Secretary of State for Science, Innovation, and Technology, admitted that the current framework isn’t doing enough for creators or AI developers to thrive globally. To fix this, the government has floated four policy options: allowing AI to use copyrighted work freely, giving creators the right to opt-out, tightening copyright laws to require licenses for AI training, or tweaking the current framework.

Not everyone’s a fan. Critics like Ed Newton-Rex, British composer and CEO of Fairly Trained, think some options give AI companies way too much power. He argues they could exploit creators’ work without permission. Owen Meredith, CEO of the News Media Association, says the focus should be on better enforcement of existing laws instead of risking new ones

As AI and copyright collide, the question is clear: how can we boost innovation without leaving creators in the dust? Now’s your chance to weigh in.


Also Read: ITAT Rules Crypto as Capital Assets – What It Means for Indian Investors

ITAT Rules Crypto as Capital Assets – What It Means for Indian Investors

Summary: India’s Income Tax Appellate Tribunal (ITAT) just dropped a bombshell ruling, clarifying how crypto gains will be taxed especially for transactions that happened before April 2022.

Capital Gains, Not Extra Income

The ITAT has officially labeled cryptocurrencies like Bitcoin and Ethereum as capital assets. Translation? Profits made from selling crypto before April 2022 will be taxed as capital gains, not as income from other sources.

YOU MIGHT ALSO LIKE: Fake Uber Driver Busted for Swiping $300K in Crypto

For long-term HODLers who’ve held their crypto for over three years, profits will fall under long-term capital gains (LTCG), meaning a lower tax burden. For instance, if you bought Bitcoin for Rs 5.05 lakh in 2015 and sold it for Rs 6.69 crore in 2020 yep, that massive profit is LTCG and taxed at favorable rates.

Post-April 2022 – The Game Changed

Here’s where it gets spicy: after April 2022, profits from crypto are taxed at a brutal flat 30% rate, regardless of how long you’ve held. So, those big gains? Uncle Sam (or, in this case, India’s taxman) will take his cut.

YOU MIGHT ALSO LIKE: Nigeria cracks down on crypto romance scams, arrests nearly 800 scammers

This ruling gives much-needed clarity to Indian crypto investors navigating the tax maze. Pro tip: Keep those transaction records spotless tax season just got real.

Can RLUSD Launch Propel XRP Past the $3 Mark? XRP Price Forecast

Ripple’s RLUSD stablecoin launches today. Its creating major hype in the crypto space right now. Plus, XRP is already up 135% this month, is targeting $3, nearing its all-time high of $3.317 from 2018. With RLUSD’s regulatory backing and massive user base, analysts believe XRP could hit new highs soon.

The crypto buzz is real as Ripple drops its much-awaited stablecoin, RLUSD, today. This is Ripple’s first-ever stablecoin, and it’s got the XRP fam hyped. Plus, their token comes with legit regulatory backing from the NYDFS and will be up for grabs on platforms like Uphold and MoonPay.

Meanwhile, XRP is on fire! It’s up a massive 135% in just a month, breaking past $1 in mid-November and racing towards $3. After touching $2, XRP took a dip to $1.98 on Dec 10 but bounced back strong to $2.5 right as RLUSD hype hit. Now, all eyes are on the $3 mark—XRP’s next big hurdle.

If XRP clears $3 and holds, we might see it smash its all-time high of $3.317 from way back in January 2018. With RLUSD’s launch boosting confidence and liquidity, analysts think this could finally be XRP’s moment to shine after years of struggles.

You might like : Australia Unveils National Plan to Boost AI Industry Growth

Australia Unveils National Plan to Boost AI Industry Growth

Australia’s dropping a National AI Capability Plan to level up its AI game by boosting skills, research, and investments. The goal? Strengthen supply chains and rake in billions for the economy by 2030. But critics say the 2025 deadline is too slow for AI’s fast pace. Time to speed things up!

Australia’s getting serious about AI with its new National AI Capability Plan. The plan is aiming to boost its AI industry and catch up with global competition. The plan’s focus? Upskilling the workforce, driving innovation, and attracting investments to secure the country’s supply chains and critical infrastructure. It’ll also review current government support to see if it’s helping or holding things back.

The plan’s set to wrap up by 2025, but some experts aren’t thrilled with the timeline. Simon Bush, CEO of the Australian Information Industry Association, says the review needs to be done by July 2025 because waiting until 2027 could be too late in the fast-moving world of AI.

Australia has around 650 AI companies already, but to really make a mark, it’ll need to up its game. AI and automation are predicted to boost Australia’s GDP by hundreds of billions by 2030, so there’s big potential. The plan will also aim to increase AI literacy and identify key research areas across universities and businesses.

The clock’s ticking, and while Australia’s making moves, it needs to act fast to keep up with the AI boom. 💡🔍

Also Read: Ledger Wallet User Loses $2.5M in Bitcoin and NFTs to Phishing Scam

Trump’s DeFi Push Fuels $45M December Crypto Buying Frenzy

A massive $45 million December cryptocurrency binge by Trump’s new DeFi project named World Liberty Financial, is finally moving ahead by purchasing assets including big names like ETH, ONDO and LINK. It did face some trouble selling its WLFI token but Justin Sun’s $30 million investment helped it make tons of money. Finally,the collaboration with AaveDAO is setting its point towards enhancing lending and borrowing.

With a $45 million cryptocurrency buying binge this month, Donald Trump’s DeFi project, World Liberty Financial is finally taking significant big step action. Trump is also serving as its “chief crypto advocate” and his kids as its “ambassadors,” the initiative has amassed $30 million in Ethereum, $10 million in cbBTC, and smaller amounts of tokens such as Ondo (ONDO) and Ethena (ENA). Their most recent purchase? A day after obtaining $500K of ENA, $250K of ONDO was acquired.

World Liberty, launched in September, is aiming to become the go-to DeFi platform for trading crypto. But it’s not all smooth sailing—its WLFI token sales are lagging, with less than 25% of its $300M goal reached. Still, it scored a major win when Justin Sun, founder of Tron, invested $30M and became its top backer. Sun’s now an official advisor, despite his history with the SEC over alleged unregistered securities.

To keep the momentum, World Liberty got AaveDAO on board to create its own version of the Aave protocol, enabling borrowing and lending for crypto staples like Ether and USDC. With promises of juicy revenue splits for AaveDAO, this partnership might be the boost Trump’s crypto empire needs. It’s a bold bet—let’s see if it pays off.

You might like: Bitcoin Traders Eye $120K Amid Bullish Momentum of ‘Santa Claus Rally

Former Thailand PM Urges Crypto Study to Stay Relevant in the Digital Age

Former Thai PM Thaksin Shinawatra urged the government to study cryptocurrencies to stay relevant globally. He highlighted the rise of digital assets and the potential impact of global trade changes. Thailand’s government has already started experimenting with crypto, including regulatory sandboxes and digital cash distribution to citizens.

Former Thailand Prime Minister Thaksin Shinawatra recently gave his perspective on crypto during a talk held at the Intercontinental Hotel in Hua Hin. He especially urged the Thai government to quickly dive into the world of digital assets else it’ll be too late too soon. He also added not necessarily buying crypto, but by studying it to stay relevant in a rapidly digitizing world. He pointed out that we might have more cryptocurrencies than countries in the future and that Thailand needs to understand this shift.

He also mentioned global challenges, like trade tariffs from the U.S. and even the idea of using Bitcoin to pay off national debts, to further clarify his points. He believes doing so will set Thailand to explore digital currencies. The rise of digital assets is definitely undeniable, with categories now outnumbering countries.

Thailand’s already been making moves to embrace the digital economy. In August this year,the country’s Securities and Exchange Commission (SEC) set up a crypto sandbox, letting businesses test digital assets in a relaxed regulatory environment. Plus, the government’s distributed digital cash to 45 million residents, and Kasikornbank became the first licensed crypto custodian. With more institutional crypto moves in the works, Thailand’s clearly making a play to become a player in the digital economy.

You might like: Thailand is Going Full Crypto: Pay with Bitcoin While Chilling in Paradise

NFT Sales Surge 16% Amid Crypto Market Turbulence

NFTs are back in the spotlight, with sales shooting up 16% this week and hitting a massive $224 million in trading volume. Even though the crypto market has been a wild ride—Bitcoin bouncing over $100K and Ethereum pulling back from its $4K high—NFTs are holding their ground and thriving.


Ethereum-based NFTs are still the MVPs, leading the charge with $118M in sales, up by 21%. Bitcoin’s NFTs aren’t far behind, raking in $52M. Solana, the rising star, had a 31% spike in sales, bringing in $22M. And guess what? Some underdog networks like Mythos Chain and ImmutableX are also making their mark with $11M and $8.5M in sales, respectively.

One collection that’s absolutely killing it is Pudgy Penguins. They saw a 45% jump in sales, hitting close to $30M. What’s their secret? They’ve gone beyond digital art and started selling physical merch and toys. It’s clear that blending the digital and physical worlds is a winning formula for them.

This surge shows NFTs are more than just a passing fad. Even with the sudden shifts in crypto, NFT market is proving time and again that it’s here to stay. More networks and creators are backing it up claiming there’s room for innovation and growth. Whether it’s art, collectibles, or new tech, NFTs are carving out a solid place in the digital economy. If this momentum keeps up, it’s safe to say NFTs are becoming a legit part of the future.

Also Read: Bitcoin to $180K? VanEck’s Forecast Brings the Hype—But Mind the Crash

OpenAI Whistleblower’s Death Sparks Controversy, Elon Musk Weighs In

Suchir Balaji, a 26-year-old ex-OpenAI researcher, died by suicide, sparking reactions, including Elon Musk’s. Balaji accused OpenAI of copyright violations in AI training. His criticism aligns with lawsuits by NYT and Musk against OpenAI, who claim it strayed from its nonprofit mission. OpenAI counters Musk’s lawsuits as competitive power plays.

Suchir Balaji, an ex-OpenAI researcher and whistleblower, was found dead in his San Francisco apartment. Authorities are concluding it as a suicide case but there’s more depth and has the world buzzing over this, with Elon Musk even calling it out on X. Balaji had recently criticized OpenAI for its sus copyright issues, he basically said the company used original content without proper rights to train its AI models. He raised concerns about their “fair use” policy, saying AI could end up replicating copyrighted works, sparking debates on ethics in generative AI.

Balaji’s name also surfaced in The New York Times lawsuit against OpenAI, where he was listed as someone with inside info on their practices. This came right after he slammed the company in an interview, accusing it of crossing the line in the name of innovation.

Meanwhile, Elon Musk, has been at odds with the company since it shifted to a for-profit model about five years ago. Musk, who now runs his own AI startup, has filed multiple lawsuits against OpenAI, claiming it betrayed its mission to benefit humanity. OpenAI clapped back, accusing Musk of wanting control and equity from day one.

It’s a mix of AI drama, ethical dilemmas, and a tragic loss.

You might like: Drake’s X Account Hacked to Push Sketchy Solana Memecoin ‘Anita’

Exit mobile version