24% of respondents would like minimal regulators intervention so that officials do not interfere with the development of innovation. A small group of survey participants, about 13%, advocated regulation of exclusively taxation of digital assets.
84% of respondents considered existing cryptocurrencies in India unfair, especially a fixed tax of 30%, which local traders pay for profit from the sale of assets – without the possibility of compensation for losses. This tax hits the most strongly along the traders, trading in small amounts, some participants in the survey explained. In addition, to cryptocurrency transactions over 10,000 Indian rupees (about $ 113), 1%tax is applied, which, according to local traders, aggravates the difficulties of crypto -investors.
90% of Mudrex respondents stated that they would invest more money in crypto assets if their regulation were more transparent, and taxation was more sparing. About 91% of the survey participants when choosing election candidates take into account the attitude of politicians to cryptocurrencies. Almost three quarters younger than 35 years old are ready to support parties that are loyal to digital assets. Young Indians regard cryptocurrency not only as an asset for investment, but also as a symbol of innovation and progress, Mudrex said.
In February, the Indian authorities threatened the local crypto -investors with fines for non -excess of income information over the past 48 months. At the end of last year, the Ministry of Finance of India accused 17 local cryptocurrencies of tax evasion.
Source: Bits
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