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India’s Crypto Industry Pushes Back Against Tax Stranglehold—’Innovation Can’t Thrive in a Guillotine’
India’s Crypto Industry Pushes Back Against Tax Stranglehold—’Innovation Can’t Thrive in a Guillotine’
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Indian crypto firms are slashing growth forecasts and pleading for tax relief as the government’s 30% capital gains levy chokes the sector. Exchanges report trading volumes cratering 70% since the policy dropped in 2022—while underground P2P markets boom.
Finance Ministry bureaucrats insist the taxes curb speculation. Meanwhile, blockchain startups flee to Dubai. Classic case of killing the golden goose to avoid taxing the farmer’s cow.
Indian cryptocurrency sector is asking the government to cut high taxes and set clear laws. Industry leaders say the government is finally listening after Donald Trump’s return to the U.S. presidency and his support for digital assets. However, India’s Supreme Court... Read More
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