Prime

Coin

<ul class="news-points">
 <li>Indian crypto community wary of Modi’s finance minister reappointment.</li>
 <li>High taxes drive Indian crypto users to offshore exchanges.</li>
 <li>CoinDCX thrives despite regulations, launches new products.</li>
</ul>
Indian Prime Minister Narendra Modi’s reappointment of Finance Minister Nirmala Sitharaman has drawn mixed reactions from the country’s crypto community, given her previous stance on digital assets and the government’s stringent tax policies.
Sitharaman has <a href="https://www.youtube.com/watch?v=KBBA1-c4tuc&amp;t=143s&amp;ab_channel=CNBC-TV18" target="_blank" rel="noopener noreferrer nofollow">spoken</a> about international cooperation on crypto policies but maintains that cryptocurrencies should not function as currencies. Despite prioritizing the creation of a global crypto policy during its G20 presidency last year, India <a href="https://www.business-standard.com/markets/cryptocurrency/indian-crypto-players-seek-a-host-of-benefits-from-the-upcoming-budget-124010900938_1.html" target="_blank" rel="noopener noreferrer nofollow">imposed</a> a hefty 30% tax and a 1% TDS on crypto gains, dampening hopes for a crypto-friendly environment.
Saravanan Pandian, founder and CEO of KoinBX crypto exchange, sees a chance for positive change. He cited India’s willingness to engage with crypto assets and emphasized the need for proper regulation and clarity. KoinBX is celebrating its 4th anniversary with over 1.5 million users and 120 crypto assets.
Sumit Gupta, co-founder of CoinDCX, also shared a positive outlook, believing …
The post <a href="https://coinedition.com/coindcx-and-koinbx-optimistic-despite-indias-strict-crypto-taxes/" rel="noopener noreferrer nofollow">CoinDCX and KoinBX Optimistic Despite India’s Strict Crypto Taxes</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

CoinDCX and KoinBX Optimistic Despite India’s Strict Crypto Taxes

Coin Edition

Other articles published on Jun 13, 2024

Bitcoin Bullish Pennant Signals Potential Breakout to New All-Time High: Report

Toncoin’s Surging Bull Run: Key Indicators Point to Continued Growth

PEPE Reports Over 50% Gain in 30 Days: What’s Next?

Terraform Labs to end operations, Terra community will take over

Notcoin Price Jumps 14% Overnight! NOT Price To Surge 100% This June?

Bitcoin ETFs See Significant Inflows Amid Economic Uncertainty

Join our free newsletter for daily crypto updates!