The Indian government, which has historically opposed encryption, is considering regulatory policies in accordance with the adoption of other countries.
India’s Economic Secretariat Ajay Seth said, “I don’t believe in the border.”
The news of the potential policy shift is a new tax of up to 70%of the encryption profits that were not previously disclosed as part of the Indian Income Tax Act.
The changing position of the government reflects the high -level game theory of professional crypto analysts and Bitcoin maximumists. I think that the adoption of one or two states will lead to competition among global power to accumulate digital currency.
President Trump signs an administrative order for a working group and a potential cryptocurrency for the digital asset market. source: White House
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India promotes punishment taxes and digital currencies of central banks.
The Indian government imposes a 30% capital gain on digital assets, without distinguishing profits from long -term investments or short -term transactions.
Amit Kumar GUPTA, a legal practitioner of the Indian Supreme Court, was characterized by attempts to characterize taxes as Draconian and to interfere with the development of licensed blockchain technology.
GUPTA added that the Indian government says it is worse than gambling.
“Their position is that we cannot use or use cryptocurrency. This is for this kind of activity because it is for money laundering and terrorism funds.”
The former governor of the Indian Bank, Shaktikanta DAS, praised the launch of the CBDC (Central Bank Digital Currency) pilot program.
Amit Kumar GUPTA P2P Financial System Workshop
DAS called CBDC as “the future of currency,” and said that it is shifting from December 2024 to the CBDC -centered economy.
Just before DAS left, RBI (Reserve Bank of India) announced plans to expand the payment platform between the border in November 2024 to find an additional trading partner.
The bank is searching for CBDC as a major consensus mechanism among countries that use the border payment platform, which will come in the form of wholesale CBDC.
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