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Adnanmohammed.verse

05/18 15:01

🇮🇳 INDIA Crypto Developments (2013-2024)

➜ 2013: RBI issues an advisory against cryptocurrency

➜ 2017: The finance ministry said that #crypto is a Ponzi.

➜ 2018: RBI issues a circular banning crypto

➜ 2020: The Supreme Court overturns the RBI's crypto ban.

➜ 2021: The government reiterated its plan for banning and prohibiting cryptocurrencies.

➜ 2022: The Finance Minister announced a 30% tax and 1% TDS on crypto assets.

➜ 2023: The Finance Minister calls for global crypto regulation.

➜ 2024: The Indian government banned foreign exchange URLs and removed them from the App Store.

➜ 2024: Two Exchanges became FIU-compliant.

If you compare this with US crypto developments, India is still where the US was in 2013.

India needs to act quickly; otherwise, they'll be left behind.

#reducecryptotax
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