BJP member Sushil Kumar Modi wants the Finance ministry to increase crypto tax from 30% to 55% as he consider it as a form of gambling.
"Crypto is gambling. It is a form of lottery, a form of horse racing... When you put money in share market you know companies who are behind it but who are behind crypto?"
In my opinion he has no idea what Decentralization means and why any decentralized Blockchain cannot form a company as it is not owned or governed by an individual or a group.
I am also preety much sure that he doesn't know that cryptocurrency gambling and cryptocurrency trading are two different entities. This is not the first time that members from the ruling party have given out statements in public that proves how much they are aware about this new technology.
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