Shiba Inu Projection Look Bright For 2022

 

Shiba Inu Projection Look Bright For 2022!!

According to data from CryptoPredictions website Shiba Inu's prospects for 2022 Look Bright.

Just we entered into a fresh and brand New Year 2022. 2021 was very eventful for whole world ; from the Covid Pandemic to the Taliban takeover of Afghanistan. We witnessed hundreds of supporters of Donald Trump storm the Capitol, the seat of American democracy, on January 6,2021 attempting to block the confirmation of Joe Biden's presidential election Victory .

The Crypto Market stated as a Slow & Dull Trading Day on The first day of New Year 2022. But , the predictions and expected performance for rest of the Year look Very Bright and Bullish. According to Coinmarketcap websites's data there are about 16,238 Crypto Tokens and about 451 Crypto Exchanges as of January 1,2022. The Combined market cap of all these Crypto Tokens
has already crossed $ 2.21 Trillion.

Let's not wasting time with all these data (they are important too), Coming to The Point...
Let's talk about our favorite Crypto Token , none other than $Shib or Shiba Inu Token.

Shiba Inu or $SHIB was created by an anonymous user or group called " Ryoshi ". Sometime in August 2020. It was trading at $0 one and half year ago and now it is trading at $00003265 or ₹ 0.002604 . To be exact the price of $SHIB or Shiba Inu Token moved by 48,722,655.73 % . It means if someone had invested only $1 in $SHIB they would be sitting on thousands of dollars of profit by now. So benefits have been pretty large for its owners (they call them Shiba Army ). According to a research Shiba Inu expected to deliver double-digit returns to its investors for most of the year.

Maximum mainstream Crypto Coins like Bitcoin, Etherum, Doge coin , Tether , Cardano , Binance Coin witnessed several ups-down in the year 2021. But The Shiba Inu Crypto Token witnessed a price and popularity spike in the year 2021. SHIBA Inu was themost viewed Cryptocurrency in The Year 2021. According to CoinMarketCap The Shiba Inu Token spin-off recorded more than 188 million views in the year 2021, while Bitcoin came in second with 145 million views. This Christmas, 239 million Shiba Inu Tokens were burned at a Party organized by Steven Cooper, CEO of Bigger Entertainment.

Shiba Inu's creators have started to build their own Metaverse called 'Oshiverse' and also planning to jump into Decentralized gaming and Non-Fungible Tokens (NFTs). If Shiba Inu 's Creators Team do become a success, then massive demand for $SHIB Tokens is expected, which could habe more effect on its price than latest Christmas Shiba Inu Token Burn event by Steven Cooper, CEO of Bigger Entertainment.

Shiba Inu Projection Look Bright For 2022

Indian Government will bring a "Well Consulted" Cryptocurrency Bill : Finance Minister Of India

Finance Minister of India

 There is a positive news from India. The Indian Government is not looking to ban CRYPTOCURRENCY, but to regulate them asset class. The Securities and Exchange Board of India ( SEBI ) , will regulate CRYPTO Market. According to a Cabinet Note Citizens of India will no longer be allowed to either hold their Cryptocurrency assets on foreign exchanges nor in private wallets. The note also include the citizens of India need to declare their CRYPTO assets and keep them on Indian Exchanges.

 Once the Crypto-Bill becomes law, people will be given some time to transfer their holding to meet these requirements. According to Finance Minister of India Mrs. Nirmala Sitharaman, The Crypto bill is pending approval from Cabinet before it can be introduced to the Members of Parliament ( MPs).

• Crypto Bill can take India to the forefront of Blockchain Technology : Industry Expert 
• Indian Government will bring a "Well Consulted" Cryptocurrency Bill : Finance Minister Of India
• Unregulated Speculation about the Developments in Crypto Space is Unhealthy : Finance Minister Ms.Nirmala Shitaraman
• Government of India looking to add Cryptocurrency to Tax Law 

All those found violating The Exchange provisions will be penalized with Criminal Imprisonment of up to one and half years. and Penalties will be Rs. 5 crore to 20 crore. If someone, using these assets for Terror related activities , the provisionsof the Prevention of Money Laundering Act ( PMLA ) will apply with suitable amendments.

Finance Minister Ms. Nirmala Sitharaman said , " The risk of Cryptocurrency going in the wrong hands is being monitored. Finance Minister also mentioned that there is no decision to stop advertisement of Digital Currencies. She further added that the Government will not recognize Bitcoin as a currency in the country and The Government does not collect data from Bitcoin transactions.

The Government of India is considering amending Section 26A of the Income Tax Act & the Annual Information Regulation ( AIR), which shows data on all investments made by a taxpayer . There is a recommendation to add the words Cryptocurrency ,
Crypto Assets or Digital Currency in some parts of the Income Tax Act. This would mean that those filing tax returns will have to specifically disclose their income from Cryptocurrency investment or trading. 

Also Read :

 India : The Largest Crypto Market in Future

Shiba Inu Game : The Future of Gaming Industry

 

Cryptocurrency BAN in India? Will cryptocurrencies be banned or regulated?

Cryptocurrency and Regulation of Official Digital Currency Bill, 2021

Will cryptocurrencies be banned or regulated?

India is one of the world’s fastest-growing markets for cryptocurrency trading. It’s one of the biggest in the region and
expanding rapidly. An October report from  a crypto-analysis firm, found the Indian market grew 641% over the period from July 2020 through June 2021. As a whole, central and southern Asia was the fourth-largest crypto market studied, with more than $572.5 billion in value received during that period, or 14% of global transaction value. Cryptocurrency experts believe that since a cryptocurrency lacks any inherent value or liquidity, it may prove difficult  to ban the tokens, which could be called an asset, a commodity, a currency, or even a security. According to experts,  millions of people around the world could theoretically hold such a currency, which are basically pieces of code that can’t be ‘banned’ and also agree to use it as a medium of exchange, which will then lend it value.

Amid rising concern over the serious threats to the macroeconomic and financial stability of the country, India is set to propose a new cryptocurrency bill in parliament in the winter session.

According to a bulletin issued by the Lok Sabha on Tuesday; The crypto industry is hopeful there won’t be a complete ban on Cryptocurrencies. “The bill also seeks to prohibit all private cryptocurrencies in India. However, it allows for certain exceptions to promote the underlying technology of Cryptocurrency and its uses,” It also seeks “to create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India.”

There are a few things you should know and do:

• The bill that government wants to pass is to ban private cryptos.
• Do not get panic and wait for the proper bill to pass above this.
• Go and find the virtual currencies that you hold are private or not.
• Sell your private currencies as fast as you find the best deal.