I know that official regulations by the government can help to legitimate crypto. However, in India they want to apply a 18% taxation, I think is too much, and investing can be demotivating.
Would you feel more skeptical if you country apply such taxation as well? Or would you be happy because they legitimating crypto ?
I would think of it as a step before the regulation of bitcoin as money. It's necessary for authorities to understand and test it first, 18% tax is bit cruel but it will do the job