Quote from: avikz on April 04, 2022, 04:49:58 PM

Quote from: pakhitheboss on April 03, 2022, 11:52:23 AM

This is just the beginning! In coming months there will be zero volume on many exchanges. The government has driven the community to an extent where people will now use illegal means to cash out. When that happens the government would be helpless in controling such situation and generating tax revenue from the cryptocurrency market.

It wouldn't go down to zero but will definitely reduce. The startups created around crypto ecosystem will also reduce. It will also accelerate the great India brain drain regime that we are currently experiencing. Also it will encourage people to take illegal routes to cash out their cryptos.

I believe that's what the government wants especcially when RBI governor is very much pushing towards a blanket ban.

But who cares when incompetent people chairing the highest positions within finance ministry.

We will know surely in the next three months where the volume is headed. Forget about startups I am only waiting for news to come out of illegal exchanges operating in one of the major cities in India. I am sure those who are still trading have either found a way to cash without paying any tax or are making huge profits that the 30% slab doesn't matter to them.