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#1932
Lance Thompson
280 Posts

Whelp,

After a lot of back-n-forth and public infighting between the Prime Minister, the Finance Minister, Parliament and the Reserve Bank of India (RBI), India is officially “in” on crypto and they’re jumping in with both feet. From everything I’ve been reading the Youth, those ages 35 and younger have been the ones growing and exploding the crypto market there while the RBI and the Prime Minister have been trashing crypto and threatening a ban, the Finance Minister has been pro-crypto and lobbying the Country to regulate & tax it, and Parliament undecided with members on both sides of the argument.

There’s definitely a possibility that the Youth simply threw their weight around and went to the PM and the RBI and said “You guys want to implement a ban?? Fine…..Me and my Family will pullup stakes and move to the U.S., South Korea, Japan, the U.K. or wherever we have to go to trade crypto legally and we’ll let those countries get our tax revenue instead of here”……Can’t say for certain but it’s looking like the PM and the RBI caved.

 

https://www.marketwatch.com/story/indian-government-announces-plans-for-digital-rupee-30-tax-on-virtual-assets-11643709194