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

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 successful 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.

I haven't been posting much, but I never missed a day for all these days in the past to visit the forum to update what is happening around crypto market but the reason I created this thread is I saw a thread about local board activity on meta where I found only 32 posts were made in a month if I am not wrong, so I decided to make some contribution to bring some traffic here, and I expect every fellow Indian community members to do the same.

Government may successfully reduce the trading on paper, but they forced the users to use the back door because of unfairly high tax rate, so I can see a lot of activity on p2p like LBC again than before which says Indians didn't boycott crypto trading but they are off the radar due to the government rules.