Bite the bullet or Dodge the bullet | India discussing Crypto
We have seen policy makers discuss crypto and bitcoin. Typically, the large majority of them see crypto and these innovative technologies as disruptive with negative connotation attached to it.
There are a few trailblazers who are taking risk in understanding the technology. They tend to understand the opportunity it could provide to growing economies. There are opportunities but it is not as straightforward and linear for new comers to understand. Thus, it is refreshing to see policy makers making that nuanced differences and advocating for web 3.0 and forward looking disruptions.
An Indian Law maker posted a twitter video recently where she was highlighting the importance of blockchain and related advancements that could be the trumpcard for a growing economy like India.
We are living in the world of web 3.0, either we choose to bite the bullet or we dodge the bullet. #DigitalAssets #Crypto #CryptoTax #Blockchain pic.twitter.com/1f7oUMddVj
— Priyanka Chaturvedi🇮🇳 (@priyankac19) March 29, 2022
It is obvious that she was referring to Polygon and its global success.Sandeep and other blockchain personalities from India are showcasing the potential the country has going forward. Blockchain and related tech are extremely popular in the country. A positive and enabling policy environment will help youths build career in the blockchain space.
Slowly but steadily, there are voices that matter when it comes to regulate crypto. There are examples of Indian Government using Polygon Blockchain Proof of Stake tech to validate the documents they issue to the general public. There could be thousands other real world example powered through these tech.
Let's hope the majority of politicians understand the concept and promote applications. Things are moving, for sure.
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Owning crypto is not illegal but every profit trade will be taxed at 30%, cannot subtract any brokerage and platform fees. Loss is all yours ,cannot be adjusted against any profit.
Just Brutal , if you are thinking of crypto trading in India.
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Need more policy makers building the positive narrative.
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