🇮🇳 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: #Binance 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