BWA stands for Bharat Web3 Association and it seems they have approached the finance minister with this proposition to make the balance in a recent news article.
Among the things they have asked for, rationalizing the taxation on crypto is something that everyone here can agree on.
But one thing I could not understand, they are asking to "level the playing field" as per the writers of this article - however who are they competing against? and for what? Or am I missing something here?
The entire news article can be read here -
‘Provide a Level Playing Field for Web3 Businesses’: BWA to FM Nirmala SitharamanI 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.