However, one year down the line, the crypto industry is seen to be coming to terms with this move of the government. Not only has the industry seen the emergence of dedicated crypto tax startups/ platforms in the country, but also crypto exchanges tying up them.
“I believe the government has laid clear guidelines on crypto to date. The taxation laws are clear; there are compliant exchanges running in the country which people are trading on. The expectation from an Indian resident who invests in crypto is to invest through regulated, compliant exchanges and to pay taxes regularly,” says Raghuram Trikutam, CEO, Descrypt.
Says Minal Thukral, EVP, Growth and Strategy, CoinDCX. “The more compliant the crypto industry, the more it will become a safer asset class.”
Denne historien er fra August 2023-utgaven av Entrepreneur magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra August 2023-utgaven av Entrepreneur magazine.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
ROAD TO REGULATIONS
While ensuring safe and legal usage of Al, Indian parliamentarians call for a breathing space for startups to grow in
What It Takes To Run A Family Business
Assimilation involves role clarity, accountability trackers, quarterly dialogues, industry leader mentorship and external work experience
I Know Why Your Customer Service SUCKS
That's because I left my high-paying executive job, worked five low-wage frontline jobs, and experienced the problem firsthand. Here's what I learned about fixing it.
The Hire That Changed Everything
What roles do you need to fill at your company? It's sometimes hard to know. Here, six leaders share the hire they didn't realize they needed (and are so glad they made).
An Empowering Coin
The rise in female retail cryptocurrency investors and why the ecosystem needs more of them
Plans To Expand Presence Its India
To cater to its new segment, MediaTek is increasing its engineering presence and R&D development in India, says Anku Jain, MD, MediaTek India.
India Needs Homegrown Product Companies In Semiconductor
CADENCE DESIGN'S INDIA MD
GROWING WATER SCARCITY IN INDIA REPRESENTS AN OPPORTUNITY FOR NEW AGE START-UPS
The way in which India manages its scarce water resources accounts for much of its water woes.
Google's Shocking Surge in Carbon Emissions Sparks Industry-wide Sustainability Reassessment
According to International Energy Agency, (IEA), Global energy-related CO2 emissions grew by 0.9 per cent or 321 Mt in 2022, reaching a new high of over 36.8 Gt.
EV Industry Lauds UP Govt's Decision On Strong hybrid Vehicles
This comes after the Uttar Pradesh government had announced a threeyear exemption from tax and registration fees for the purchase of EVs which will be valid for five years for EVS manufactured within the state, last year.