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A recent survey conducted by the Esya Centre, a technology policy think tank based in New Delhi, suggests that India should revise its high taxes on cryptocurrency. The survey highlights significant awareness among Indian investors regarding crypto regulations and indicates that the current anti-money laundering (AML) rules are insufficient to mitigate the adverse effects of these taxes. Despite multiple studies advocating for a reduction in crypto taxes since 2022, the Indian government has maintained these high rates. The survey was conducted across five major cities, revealing user behavior and engagement trends among savvy Indian investors, underscoring the need for policy reassessment.
INDIA URGED TO RECONSIDER CRYPTO TAXES AS AML RULES FALL SHORT A survey by the Esya Centre recommends that India reconsider its high crypto taxes, as current anti-money laundering (AML) rules aren't enough to offset their effects. Conducted in five major cities, the survey… https://t.co/Kc29rEUt6T
India should consider revising its taxes on crypto and not depend on its AML rules to reverse the impact of those high taxes, a survey of savvy Indian investors by @esyacentre, a New Delhi-based technology policy think tank reveals. https://t.co/FkzMLf5Quy
📊 Despite multiple evidence-backed studies calling for a reduction, India has kept high crypto taxes unchanged since 2022. @esyacentre 's new report highlights user behavior and engagement trends among Indian investors. Some key findings below 👇 https://t.co/UqiBiE1hMY