regulatecryptoindia
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Legalizing VDA (Virtual Digital Asset) Ownership in India 🇮🇳
While India recognizes that there are taxation laws around Value Added Tax (VAT) and Property Transfer Tax (PTT) regarding VDA( Virtual Digital Asset),(but) when looking at the legal framework and regulation around VDA( Virtual Digital Asset), India does not have a clear legal framework or regulatory structure for the VDA ( Virtual Digital Asset) industry.
Currently in India, cryptocurrency is taxed at a capital gains rate of 30% + 1% TDS, but:
> There is no legal framework for cryptocurrency.
> There are no regulation for investor protection for cryptocurrency users.
> There are no Anti-money laundering (AML) laws in place for cryptocurrency.
The net effect of this is:
> 12 crore Indians are using international exchanges to trade cryptocurrency.
> More than ₹4.8 lakh crore of trading in cryptocurrency in India has been conducted on international exchanges
> 73% of India’s trading volume for cryptocurrency occurs on international exchanges.
> More than 180 companies that were originally started in India to develop cryptocurrency have moved to international jurisdiction.
This is not just capital flight; it’s regulatory uncertainty.
The solution is simple:
> we must implement compliance in India with respect to VDAs.
> Provide clear asset class classification.
> Create a regulatory sandbox in India that has adequate AML protections in place.
This would:
1. Bring a significant amount of trading activity back to India.
2. Provide adequate protections to Indian investors.
3. Improve compliance of VDAs in India.
4. Generate between ₹15,000 crore - ₹20,000 crore in new, annual tax revenue.
Let's not fear innovation, let's ensure we regulate it. Prohibition of an industry protecting the public and regulating the industry for the purpose of protecting the public are entirely different.
$BTC $ETH $BNB
#RegulateCryptoIndia #LegaliseVDAs #Web3India #CryptoIndia
While India recognizes that there are taxation laws around Value Added Tax (VAT) and Property Transfer Tax (PTT) regarding VDA( Virtual Digital Asset),(but) when looking at the legal framework and regulation around VDA( Virtual Digital Asset), India does not have a clear legal framework or regulatory structure for the VDA ( Virtual Digital Asset) industry.
Currently in India, cryptocurrency is taxed at a capital gains rate of 30% + 1% TDS, but:
> There is no legal framework for cryptocurrency.
> There are no regulation for investor protection for cryptocurrency users.
> There are no Anti-money laundering (AML) laws in place for cryptocurrency.
The net effect of this is:
> 12 crore Indians are using international exchanges to trade cryptocurrency.
> More than ₹4.8 lakh crore of trading in cryptocurrency in India has been conducted on international exchanges
> 73% of India’s trading volume for cryptocurrency occurs on international exchanges.
> More than 180 companies that were originally started in India to develop cryptocurrency have moved to international jurisdiction.
This is not just capital flight; it’s regulatory uncertainty.
The solution is simple:
> we must implement compliance in India with respect to VDAs.
> Provide clear asset class classification.
> Create a regulatory sandbox in India that has adequate AML protections in place.
This would:
1. Bring a significant amount of trading activity back to India.
2. Provide adequate protections to Indian investors.
3. Improve compliance of VDAs in India.
4. Generate between ₹15,000 crore - ₹20,000 crore in new, annual tax revenue.
Let's not fear innovation, let's ensure we regulate it. Prohibition of an industry protecting the public and regulating the industry for the purpose of protecting the public are entirely different.
$BTC $ETH $BNB
#RegulateCryptoIndia #LegaliseVDAs #Web3India #CryptoIndia
インドが暗号通貨を規制へ：一般市民の意見が必要！
インドの暗号通貨コミュニティにとってビッグニュース！政府は暗号通貨を規制する措置を講じており、その方法について一般市民の意見を求めています。この動きは、暗号通貨市場をより安全にし、イノベーションを促進し、詐欺を防止することを目的としています。
これが重要な理由：
- 安全性と信頼：規制により投資家が保護され、暗号通貨取引がより安全になります。
- 成長とイノベーション：明確なルールにより、より多くの企業を誘致し、新しいテクノロジーを奨励できます。
- 詐欺の減少：規制により詐欺を防止し、誰にとっても市場がより安全になります。
これは、インドの暗号通貨の未来を形作るエキサイティングな機会です。あなたの考えを共有し、あなたの声を届ける方法に注目してください！
#india_crypto #CryptoMarketMoves #regulatecryptoindia #BlackRockETHOptions #BinanceLaunchpoolDOGS
インドの暗号通貨コミュニティにとってビッグニュース！政府は暗号通貨を規制する措置を講じており、その方法について一般市民の意見を求めています。この動きは、暗号通貨市場をより安全にし、イノベーションを促進し、詐欺を防止することを目的としています。
これが重要な理由：
- 安全性と信頼：規制により投資家が保護され、暗号通貨取引がより安全になります。
- 成長とイノベーション：明確なルールにより、より多くの企業を誘致し、新しいテクノロジーを奨励できます。
- 詐欺の減少：規制により詐欺を防止し、誰にとっても市場がより安全になります。
これは、インドの暗号通貨の未来を形作るエキサイティングな機会です。あなたの考えを共有し、あなたの声を届ける方法に注目してください！
#india_crypto #CryptoMarketMoves #regulatecryptoindia #BlackRockETHOptions #BinanceLaunchpoolDOGS
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