India leads the cryptocurrency market, thriving under tax pressure
In the world of cryptocurrency, India leads with an astonishing 94 million users, even though it faces a high tax rate of 30% and a 1% withholding tax (TDS) on each transaction. This makes people wonder, in such a harsh tax environment, India's cryptocurrency market can still flourish, what is the reason behind it?
Looking at the world, although China has 59 million cryptocurrency users, the government's ban has made the market atmosphere subtle. On the other side of the Atlantic, in the United States, 53 million users act cautiously under the tiered tax policy. Markets in Brazil, Vietnam, Pakistan and other places are quietly growing under their respective tax environments.
The example of India tells us that even under heavy taxes, the vitality of the cryptocurrency market remains undiminished. This is not only because of the charm of cryptocurrency itself, but also because of people's desire and pursuit of future financial freedom.
With the upcoming release of the new budget in July, we can't help but call for: It's time to provide a fairer tax environment and clearer regulatory policies for the cryptocurrency market. This will not only inspire more people's enthusiasm for investment, but also inject new vitality into the entire market.
Imagine how many people will be willing to join this market full of infinite possibilities and write the future financial chapter with cryptocurrencies when taxation and regulation become more reasonable. Let us look forward to it together and work hard for it!
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