As India's Finance Minister prepares to announce the budget provisions for the fiscal year 2025, the web3 community in India is calling for changes to cryptocurrency tax regulations. The community is using the hashtag '#ReduceCryptoTax' on social media to express their demands, which include more flexible tax slabs, a reduction in the Tax Deducted at Source (TDS) from 1% to 0.01% on each crypto transaction, and the ability to carry forward losses. The crypto sector argues that current tax laws hinder crypto growth in India and lead to a talent exodus to more crypto-friendly nations. The community is also advocating for clear legal frameworks, tax regularization, and policies fostering innovation and research in the digital asset space.
Welcome Back
Click “Sign in” to agree to Cointime’s Terms of Service and acknowledge that Cointime’s Privacy Policy applies to you.
Join CoinTime
Already have an account?
Click “page.Sign up” to agree to Cointime’s <a class="underline" href="#term-of-service">Terms of Service</a> and acknowledge that Cointime’s a class="underline" href="#privacy-policy">Privacy Policy</a> applies to you.
Sign in with email
Sign up with email
Your email
Check your inbox
Click the link we sent to to sign in.
Click the link we sent to to sign up.
Indian Web3 Community Urges Changes in Cryptocurrency Tax Regulations Ahead of Union Budget 2024 Announcement
-
Wechat scan to share
Recommended for you
-
The total open interest of Bitcoin contracts on the entire network reached US$30.62 billion
According to Coinglass data, the total open position of Bitcoin futures contracts on the entire network is 480,870 BTC (approximately $30.62 billion). -
Over $734 million worth of PYTH is staked
According to Dune data, there are currently 1,253,845,543 PYTH coins in a pledged state, with a total pledge value of $734,478,896. The number of PYTH pledgers has reached 159,165. -
This week, Memecoin will unlock over $140 million worth of MEME at one time
According to TokenUnlocks data, Memecoin will have a one-time large-scale token unlock this week, including: -
Over $155 million worth of MEME will be unlocked on May 3, accounting for 31.96% of the circulating supply
According to Token Unlocks data, 5.31 billion MEME tokens, worth over $155 million, will be unlocked on May 3, 2024, accounting for 31.96% of the circulating supply. These tokens will be unlocked and distributed to airdrops, advisors, and investors. -
The total open interest of BTC options is $17.83 billion, and the open interest of ETH options is $8.07 billion.
Coinglass data shows that the nominal value of unclosed BTC option positions on the entire network is 17.83 billion US dollars, which is the lowest point since February 26; the nominal value of unclosed ETH option positions is 8.07 billion US dollars, which is the lowest point since February 25. -
USDC circulation increased by $300 million in the past week, reaching a total of $33.3 billion
According to official data reported , as of April 25th, Circle has issued a total of 3.8 billion USDC and redeemed approximately 3.5 billion USDC in the past 7 days, with an increase in circulation of approximately 300 million US dollars. The total circulation of USDC is 33.3 billion US dollars, with a reserve of 33.5 billion US dollars, of which approximately 3.4 billion US dollars are in cash, and the Circle Reserve Fund holds approximately 30.1 billion US dollars. -
Wu Jiezhuang, a member of the National Committee of the Chinese People's Political Consultative Conference, suggested that Hong Kong refer to IPO to provide innovative financing models for Web3
Wu Jiezhuang, a member of the National Committee of the Chinese People's Political Consultative Conference and a member of the Hong Kong Legislative Council, wrote an article in the Hong Kong Wen Wei Po titled "Leading the Digital Economy by Adapting to the Web3 Trend". The article pointed out that developing Web3+ has both advantages and new challenges. The Hong Kong government has taken an important step in the direction of developing Web3 and the digital economy by formulating a short- to medium-term strategic development blueprint, ensuring that policies and resources are in place, and promoting the construction of Web3+ application scenarios. Focusing on Web3, establishing an international innovation financing platform can not only help Hong Kong leverage its traditional financial advantages, but also help it become a global digital technology center. It is suggested to refer to the mature mode of existing enterprises' IPOs in Hong Kong, provide an innovative financing model for Web3, and create a market trend and service competitive advantage to promote the development of the industry and attract upstream and downstream of the industry chain at home and abroad to gather in Hong Kong. -
Grayscale transferred more than 1,000 BTC to Coinbase Prime address again last night
According to Arkham data monitoring, the grayscale address transferred about 411 BTC to Coinbase Prime last night, and about 14 hours ago transferred 1003 BTC to Coinbase Prime address again, worth about $64.18 million. -
Justin Sun has deposited 166 million USDT to Binance in the past 7 hours
According to on-chain analyst @ai_9684xtpa, in the past 7 hours, Sun Yuchen has accumulated a total of 166 million USDT deposited into Binance. -
An address transferred 8150 ETH to Galaxy Digital OTC address 8 hours ago
According to on-chain analyst @ai_9684xtpa monitoring, 8 hours ago, address 0x4E8...fA555 transferred 8,150 ETH (valued at $25.64 million) to Galaxy Digital OTC address, suspected of commissioning sales.
Daily Must-Read
-
USA to forge AI partnership with Nigeria for economic growth
-
Bitcoin halving 2024: 5 ways it’s different this time
-
The 2024 Bitcoin halving is the “most bullish” setup for BTC price
-
Bitcoin dominance hits 3-year high as BTC price dip pressures altcoins
-
SEC breaks from past policy guidelines in Uniswap crackdown
-
Binance ends support for Bitcoin Ordinals
All Comments