Plus: Trading in India? Watch out for this tax trap

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Alright, now back to our regularly scheduled programming…

Got that weird aftertaste from all the market dips? Let us strain out the bitterness and pour you a glass of crypto clarity.

🇮🇳 India's new crypto tax policies.

🍋 News drops: Coinbase wants to help builders go viral, Kraken is delisting some stablecoins + more

🍍 Market flavor today

Find out more about the Fear & Greed Index here.

Name		Price	24H	7D
Crypto Market Cap: $3.29T -0.04% (24H)
	Bitcoin BTC	$99,458.53	1.45%	0.20%
	Ethereum ETH	$2,728.54	-7.24%	-11.00%
	XRP XRP	$2.67	2.09%	-8.09%
	Solana SOL	$210.70	5.86%	-6.87%
	BNB BNB	$597.33	-3.77%	-9.63%

Prices as of 02:00 PM EST. Click here to see live data.

Daily reminder (just in case): that white wall didn't do anything to deserve a punch, and you'll regret it later.

Things got messy in the crypto market: investors have flipped from greedy to neutral at a score of 44, and as far as color coordination goes, it's mainly red. Oh, and over $2.24B got liquidated this past day.

Why? Well, we can thank the mounting global tariff drama for that.

Source: @scottmelker

President Donald Trump unleashed new import taxes this weekend:

25% tariffs on imports from Canada & Mexico;
10% tariffs on goods from China;
And he's not done - apparently, EU and BRICS nations are next in line.

Tariffs = more expensive international trade → higher costs for businesses and consumers → economic uncertainty.

Investors hate uncertainty. So what do they do? Dump risky assets like crypto and run to "safer" things like USD, bonds, and gold.

Source: @dubzyxbt

According to 10xResearch, there were enough promising signs to hint that Bitcoin might break out. Matter of fact, BTC almost pulled it off on Friday - right up until Trump's tariff stunt sent the market spiraling backward.

However, they added that in the medium term, on-chain data and their breakout model still look solid for Bitcoin.

For now, trader Skew says $95K is a key level - there's a stack of sellers waiting there. If BTC can push through, we might see higher highs. If not? Prepare for a dip to $92K - $90K.

Source: @MinisterOfNFTs

🥝 Memecoin harvest

I think somebody put cheat codes in these memecoins; they're leveling up faster than a speedrunner.

	Name		24H Change
	Bullsht Fantasy Coin BFC*		▲ 4K%
	Lumo-8B-Instruct LUMO		▲ 297%
	SwamNode.ai SNAI		▲ 101%
	Alpha ALPHA		▲ 56%

Data as of 06:30 AM EST.

Check out these memecoins and plenty more here.

💰 That'll be 30% + your soul

Welcome to India's Crypto Hunger Games. May the odds be ever in your favor - because with these new tax rules, you're gonna need a whole lotta luck.

India leads the world in crypto adoption. But at the same time, it's one of the worst places to actually own crypto, thanks to some of the harshest tax policies out there.

Source: @wallstmemes

The government takes a 30% cut on all crypto profits;
On top of that, there's a 1% TDS (tax deducted at source) on every single transaction. In plain English: every time you trade, 1% automatically gets taken out before you even see what's left.

Sounds bad? There's more 🙂

India has officially labeled crypto as a "virtual digital asset." And that label comes with a price - anyone who hasn't reported their crypto gains might be fined up to 70%.

The best part: they can go back up to 48 months to check your records. So, if you bought some stupid memecoin back in 2021 and never reported it, the government can still come knocking.

Strict enough now? There's even more 🤩

From April 2026, businesses and exchanges will have to report every single crypto transaction to the tax authorities, down to the tiniest detail:

Who was involved;
Which crypto asset was used;
Exact date and time;
The amount traded and its fiat value.

Privacy? Not right here, partner. And yet, this is the same country that's been talking about embracing crypto since 2018.

So what's the takeaway? Regulators still seem clueless about how to handle crypto.

And mind you, India isn't just any market - it's the biggest one in the world, so it's a major loss for the entire community.

If people decide it's not worth the hassle, they'll leave. And if new users don't even bother getting in, that's millions of potential builders, traders, and innovators gone.

At the same time, we still have countries that get it - so while India makes crypto a nightmare, the industry will keep thriving. Just somewhere else.

🍋 News drops

📢 Coinbase bought Spindl - an on-chain ad and attribution platform to support projects on Base. In their own words: builders wanna go viral, and Coinbase wants to be their hype man.

🇹🇭 Thailand's SEC is cooking up a blockchain-powered trading platform for securities firms to trade digital tokens. Why? Because token investments are blowing up, and the regulator wants to let these firms cash in on their investor networks.

🤖 OpenAI's new "deep research" feature turns ChatGPT into a research analyst, great for finance, science, policy, and engineering. The catch? It takes 5 to 30 minutes to deliver results, but at least it comes with citations, so you know it's not just making things up.

👋 Kraken is delisting several stablecoins by March 31 to stay compliant with MiCA rules. If you're in the EEA, say goodbye to USDT, PYUSD, EURT, TUSD, and UST.

🐶 Dogwifhat addressed concerns regarding the Sphere Wif Hat campaign - $700K was raised in March 2024 to put the memecoin's logo on the Vegas Sphere, but nothing's happened. Organizers now say the timeline is set, and if it flops, those who donated will get refunds.