Weekly Market Update - March Week 14

Weekly Market update - March?Week 14

Headline

Investment into cryptocurrencies reach record-high levels in the past month, the fund flow saw inflows for the past week totaling $193 million. Coinbase is set to hire more than 1000 employees for its Indian Venture. The Indian government's new tax rules on Digital assets became applicable on April 1.

07-04-2022| Week 14

Takeaways -

1. The Digital Asset fund flow revealed that investments in digital assets saw an inflow of 193million dollars with a big focus on Bitcoin(BTC) with over $98million dollars and Solana with $87 million dollars.

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2. Global Crypto Exchange Coinbase which has invested $150million dollars into its Expansion in India is set to open its door for over 1000 new employees in India. The plan was proposed by the co-founder of Coinbase Brian Armstrong.

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3. New tax rules from the Indian government on digital asset was Active on April 1, 2022. The new tax rules imply a 30% Tax on inflows of all digital assets like Cryptocurrencies from investments into the country.

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