Quote from: Bitcoin Smith on June 18, 2024, 08:09:24 AM

As far I read the article and how things going on crypto for India they mean "level the playing field" as competing against the developed countries probably like US so they are suggesting complete framework regarding VDA (Virtual digital assets) and they also brought crypto under these.

That is the first competition, countries other than India and how they are running cryptocurrency related financials.

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But they ain't looking to make anything better here for crypto, they justified the 30% crypto gains and 1% TDS brought more traders to India which is completely misleading information because they introduced these new regime in 2022 but until 2024 there were no improvement in it contradictingly the number of crypto users reduced in India they only attained these numbers when they shadowbanned every global exchanges including Binance and forced users to trade on Indian exchange or don't trade.

I sure dont like how they are keeping the taxation as it is and not protesting, they essentially want to run their products on Indian population, so they have to accept that tax burden.

Interesting to note that the shadow ban was not covered by major news media, as far I can recall.

Quote from: pawanjain on June 19, 2024, 03:53:03 PM

I guess by leveling the playing field they mean to lower the tax rates and match it with the tax rates of stocks.
Currently the STCG tax is 15% and LTCG tax is 10% and so may be they are saying to make the crypto taxation the same.
That would be great though.

That is another competition, crypto vs traditional asset classes, which was also brought up recently to compare the 24x7 running of crypto with the limited 9:15-3:30 time slot everyday with holidays.