🚀 **Crypto Tax Woes in India: A Comedy of Errors?** 🤔

At the Peer-to-Peer Financial Systems Workshop 2024, legal expert Amit Kumar Gupta humorously dubbed India's crypto tax regime as "draconian." Gupta argues that the 30% tax on crypto profits (with no loss offsets) is a result of regulators' lack of understanding of blockchain tech.

He claims the government views crypto as "worse than gambling," aiming to curb its use due to fears of money laundering and terror financing. Despite this, Indian Web3 developers are still innovating, hoping to set a global example.

💬 What are your thoughts? Drop a comment below!