{ }
In 2024, losses from crypto scams and hacks surged by 21%, totaling $2.2 billion across 303 incidents, with centralized services and private key compromises being primary targets. Notable exploits included the $305 million DMM hack and a $235 million breach of WazirX. As AI-driven attacks rise, experts stress the need for enhanced security measures and regulatory oversight to combat evolving threats.
The Federal Reserve's future interest rate decisions will be driven by economic data, as highlighted in a UBS report. Key indicators, particularly the personal consumption expenditures (PCE) price index and jobs data, will significantly influence the central bank's policy direction. Despite a slower pace of rate cuts anticipated, the overall trend towards easing remains clear, providing clarity for investors in a resilient economic environment.
The global Seasoning Market is poised for significant growth from 2024 to 2031, driven by key players like McCormick & Company and Nestle. The market analysis includes trends, dynamics, and opportunities, with a focus on regional contributions and competitive strategies among major manufacturers. Comprehensive insights into market segmentation and the impact of various factors on demand are also provided, aiding stakeholders in making informed business decisions.
Nestlé India has assured stakeholders that Switzerland's suspension of the Most Favoured Nation (MFN) status will not impact its operations, as the company already deducts a 10% withholding tax on cross-border payments. The issue is a government-to-government matter, stemming from a Supreme Court ruling related to the MFN clause in the Double Taxation Avoidance Agreement. Nestlé India continues to invest significantly in the Indian market, reporting a revenue of Rs 24,393.9 crore for the financial year 2023-24.
Nestle India Ltd. stated that the suspension of Switzerland's 'most favoured nation' status for India will have "no impact" on its operations. This decision, stemming from a Supreme Court ruling, is a broader policy issue and not specific to the company, which already applies a 10% withholding tax on cross-border payments. Nestle India remains a significant market for the Swiss FMCG giant, having operated in the country for 112 years.
The Income Tax Appellate Tribunal (ITAT) has classified cryptocurrency profits from sales before 2022 as capital gains, allowing long-term investors to benefit from lower tax rates. In contrast, profits from post-2022 transactions will incur a flat 30% tax with no deductions. This ruling clarifies the tax treatment of cryptocurrencies, aligning them with traditional assets and enhancing stability in India's crypto taxation landscape.
Sophon has launched its mainnet, marking the first Validium on ZKsync powered by Avail DA, with over $500 million in total value locked. The platform focuses on user-friendly entertainment applications and has partnered with industry leaders to enhance mainstream crypto engagement. Node holders will start receiving rewards in January 2025, with full token transferability expected in Q1 2025.
The Delhi High Court has ordered a new investigation into WazirX following allegations of financial irregularities and a significant hack linked to North Korea, which resulted in a $235 million loss. This comes as Binance announced it would delist WazirX's native token, WRX, due to compliance issues, leading to a 59% drop in its value. Despite efforts to recover funds, WazirX faces intense scrutiny and challenges in restoring investor confidence and operational integrity.
Nestle India is currently experiencing a corrective phase, with potential upward movement towards 2500 before a downturn. The daily chart indicates a possible double top at 2785, while a recent drop through 2185 suggests a larger degree correction may be underway. Key resistance remains at 2785, with analysts predicting a rally towards 2440-50 before prices decline again.
Norwegian regulations now mandate data centers to disclose ownership and services, aiming to empower local authorities in decision-making. Meanwhile, global enforcement against digital asset fraud intensified, with the CFTC and SEC reporting record recoveries from scams, including the FTX collapse and Terraform Labs fraud. In the U.K., a proposed bill seeks to classify digital assets as property, addressing legal ambiguities, while China revises AML laws to include virtual assets, maintaining a ban on digital asset transactions.
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