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India Reaffirms Harsh Crypto Taxation, Rejects ETF Access as Enforcement Tightens
The Indian government has formally confirmed that no changes will be made to its existing crypto taxation regime, disappointing industry stakeholders who had lobbied for relief in the Union Budget 2025. The current framework—imposing a 30% tax on virtual digital asset (VDA) gains and a 1% tax deducted at source (TDS) on all transactions—remains intact, with no provisions for loss offsets or deductions. At the same time, Indian regulators have reiterated that crypto exchange-traded funds (ETFs) remain unauthorized for domestic investors. Access to international spot Bitcoin ETFs is only available via the ... (full story)
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The number of job openings was little changed at 7.4 million in June, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were little changed at 5.2 million and 5.1 million, respectively. Within separations, quits (3.1 million) were little changed while layoffs and discharges (1.6 million) were unchanged. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class. Job openings include all positions that are open on the last business day of the month. Hires and separations include all changes to the payroll during the entire month. Job Openings The number and rate of job openings were little changed at 7.4 million and 4.4 percent, respectively, in June. The number of job openings decreased in accommodation and food services (-308,000), health care and social assistance (-244,000), and finance and insurance (-142,000). The number of job openings increased in retail trade (+190,000), information (+67,000), and state and local government education (+61,000). (See table 1.) Hires In June, the number and rate of hires were little changed at 5.2 million and 3.3 percent, respectively. The number of hires decreased in arts, e - Prior month revised to 7.712m from 7.769m - Job openings rate was 4.4% in June vs 4.6% prior - 3.142m people quit a job in June vs 3.27m prior - Quits rate at 2% vs 2% - 1.604m workers were fired or laid off in June vs 1.611m prior - Layoffs and discharges rate at 1% vs 1%
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The SEC voted to approve in-kind creations and redemptions for crypto ETPs https://t.co/pxrdRGEhS3 
SEC Permits In-Kind Creations and Redemptions for Crypto ETPs The Securities and Exchange Commission today voted to approve orders to permit in-kind creations and redemptions by authorized participants for crypto asset exchange-traded product (ETP) shares. The orders approved today reflect a departure from recently approved spot bitcoin and ether ETPs, which were limited to creations and redemptions on an in-cash basis. With today’s approval orders, bitcoin and ether ETPs, consistent with other commodity-based ETPs approved by the Commission, will be permitted to create and redeem shares on an in-kind basis. “It’s a new day at the SEC, and a key priority of my chairmanship is developing a fit-for-purpose regulatory framework for crypto asset markets,” said SEC Chairman Paul S. Atkins. “I am pleased the Commission approved these orders permitting in-kind creations and redemptions for a host of crypto asset ETPs. Investors will benefit from these approvals, as they will make these products less costly and more efficient." “Today’s approvals continue to build a rational regulatory framework for crypto, leading to a deeper and more dynamic market, which will benefit all American investors. This decision aligns with the standard practices for similar ETPs.”
SEC Permits In-Kind Creations and Redemptions for Crypto ETPs The Securities and Exchange Commission today voted to approve orders to permit in-kind creations and redemptions by authorized participants for crypto asset exchange-traded product (ETP) shares. The orders approved today reflect a departure from recently approved spot bitcoin and ether ETPs, which were limited to creations and redemptions on an in-cash basis. With today’s approval orders, bitcoin and ether ETPs, consistent with other commodity-based ETPs approved by the Commission, will be permitted to create and redeem shares on an in-kind basis. “It’s a new day at the SEC, and a key priority of my chairmanship is developing a fit-for-purpose regulatory framework for crypto asset markets,” said SEC Chairman Paul S. Atkins. “I am pleased the Commission approved these orders permitting in-kind creations and redemptions for a host of crypto asset ETPs. Investors will benefit from these approvals, as they will make these products less costly and more efficient." “Today’s approvals continue to build a rational regulatory framework for crypto, leading to a deeper and more dynamic market, which will benefit all American investors. This decision aligns with the standard practices for similar ETPs.”
