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
Indija regulē kriptovalūtu: nepieciešams sabiedrības ieguldījums!
Lieliskas ziņas Indijas kriptovalūtu kopienai! Valdība veic pasākumus, lai regulētu kriptovalūtu, un lūdz sabiedrības ieguldījumu, kā to izdarīt. Šīs darbības mērķis ir padarīt kriptovalūtu tirgu drošāku, veicināt inovācijas un novērst krāpšanu.
Kāpēc tas ir svarīgi:
- Drošība un uzticēšanās: noteikumi aizsargās investorus un padarīs kriptovalūtu tirdzniecību drošāku.
- Izaugsme un inovācijas: skaidri noteikumi var piesaistīt vairāk uzņēmumu un veicināt jaunas tehnoloģijas.
- Mazāk krāpšanas: noteikumi palīdzēs novērst krāpniecību, padarot tirgu drošāku ikvienam.
Šī ir aizraujoša iespēja veidot kriptovalūtas nākotni Indijā. Sekojiet līdzi tam, kā varat dalīties savās domās un padarīt savu balsi sadzirdētu!
#india_crypto #CryptoMarketMoves #regulatecryptoindia #BlackRockETHOptions #BinanceLaunchpoolDOGS
Lieliskas ziņas Indijas kriptovalūtu kopienai! Valdība veic pasākumus, lai regulētu kriptovalūtu, un lūdz sabiedrības ieguldījumu, kā to izdarīt. Šīs darbības mērķis ir padarīt kriptovalūtu tirgu drošāku, veicināt inovācijas un novērst krāpšanu.
Kāpēc tas ir svarīgi:
- Drošība un uzticēšanās: noteikumi aizsargās investorus un padarīs kriptovalūtu tirdzniecību drošāku.
- Izaugsme un inovācijas: skaidri noteikumi var piesaistīt vairāk uzņēmumu un veicināt jaunas tehnoloģijas.
- Mazāk krāpšanas: noteikumi palīdzēs novērst krāpniecību, padarot tirgu drošāku ikvienam.
Šī ir aizraujoša iespēja veidot kriptovalūtas nākotni Indijā. Sekojiet līdzi tam, kā varat dalīties savās domās un padarīt savu balsi sadzirdētu!
#india_crypto #CryptoMarketMoves #regulatecryptoindia #BlackRockETHOptions #BinanceLaunchpoolDOGS
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