Just-In: India läheneb krüptotehnoloogiale pärast FTX-i kriisi ettevaatlikult

India’s Finance Minister Nirmala Sitharaman tables the Economic Survey 2022-2023 in the Parliament today. While the crypto community in India hopes for relief in crypto taxes, the Indian government is unlikely to change its strict stance against crypto, especially following the collapse of crypto exchange FTX. In fact, India is likely to push for a global common standard for regulating the crypto ecosystem.

India Reaffirms Strict Stance Against Crypto in Economic Survey

Indian Finance Minister Nirmala Sitharaman has retained her strict stance against crypto. Last year, Sitharaman introduced the Finance Act 2022 which imposed a 30% tax on profits and a 1% tax deducted at source (TDS). This caused a massive decline in crypto trading volumes in India despite an increase in crypto adoption.

The Economic Survey 2022–2023 rõhutab how the recent collapse of the crypto exchange FTX and selloff in the crypto market raises concerns over the vulnerabilities in the market. It also cited the joint statement by the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) highlighting concerns about the risks to the banking system.

Considering the crypto market has no boundaries, the Indian government looks for a global approach to regulate crypto. FTX contagion still impacts the market with crypto companies including Genesis, DCG, and Gemini at risk of bankruptcy. Genesis Trading’s lending business Genesis Capital filed for bankruptcy see kuu.

Loe edasi: India on uusima majandusuuringuga krüptoregulatsiooni osas tõusuteel?

Tax Relief for Crypto Community

While the Indian crypto community hopes the Indian government reduces the tax burden and TDS to 0.1%, the government may have other plans. Former Finance secretary of India Subhash Chandra Garg says “crüpto taxes need a lot more clarity and he might not see any new changes in the upcoming eelarve 2023. "

India-based crypto exchanges such as CoinDCX and WazirX have released proof-of-reserves (PoR), showing transparency and building a strong foundation on the pillars of trust, safety, and security. However, the cautious approach by India after FTX will impact the crypto community in India.

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Varinder on tehniline kirjanik ja toimetaja, tehnoloogiaentusiast ja analüütiline mõtleja. Olles lummatud häirivatest tehnoloogiatest, on ta jaganud oma teadmisi plokiahela, krüptovaluutade, tehisintellekti ja asjade interneti kohta. Ta on olnud seotud plokiahela ja krüptovaluutatööstusega pikka aega ning kajastab praegu kõiki krüptotööstuse uusimaid uuendusi ja arenguid.

Esitatud sisu võib sisaldada autori isiklikku arvamust ja see võib sõltuda turutingimustest. Enne krüptovaluutadesse investeerimist tehke oma turu-uuringud. Autor ega trükis ei vastuta teie isikliku rahalise kahju eest.