Quote from: pakhitheboss on January 12, 2023, 01:13:32 PM

Quote from: Bitcoin Smith on January 11, 2023, 10:24:44 PM

Firstly our board left stranded, and our fellow community members should revive and start the discussions again as in the past and I hope I can engage into the discussions as well regularly.

What is the hope for cryptocurrency in India especially this year, in my opinion not looking too great since the implementation of new tax policy last year but with the next government can something will change if there is someone who is in the position of making policies and also understand the potential in cryptocurrency and blockchain technology.

Great! Someone took the initiative to post an engaging topic on this board, as I have stopped doing it due to zero engagement & zero merits from Merit sources. It seems most of them are inactive at the moment.

Now, coming to what you have asked. A lot of revenue from tax has gone as most investors, traders and those who made a living on Bitcoin have shifted to international exchanges. A lot of investors/traders have shifted or made arrangements to do their business in crypto tax friendly countries.

The Indian government wanted to reduce crypto engagement and in my opinion they have been successfull as a lot of Indian exchanges have declared a traffic drop. In 2023 I am sure the government would not make any changes to the law as it is a preparation year for the next election which is scheduled in 2024. You can expect a complete ban in 2025.

It's an unfortunate situation most especially when a government that's anti crypto and also at same time don't have a broad understanding of the potential employment gains and empowerment that blockchain technology can offer to her citizens, their policies would one aimed at discouraging every operations that's crypto-related. And this is the case with my country Nigeria where there's a coercive ban on all cryptocurrency operations and usage and these policies only make life difficult for those of us that are into cryptocurrency like bitcoin from freely making transactions of any kind except through a p2p.