@CryptoPointHi Great way to share updates.
Liking it ๐๐ผ
In the coming posts, please share ur views on the alts as well.. I know not all the alts will survive this bear market, but I'm sure, some of them are good long term contenders.
You already shared your views on SOL.
XRP, LTC, DOT, Link etc
'I think if truly I was defeatable the Gandhi's would have fought...' Smriti Irani On Rahul Gandhi And Politics
Watch the full conversation on CNN-News18's YouTube
https://t.co/VDtc5ojkoY
@smritiirani@_pallavighosh | #women#WomeninPolitics#smritiirani#amethi#congress #uttarpradesh #bjp #election #ShondeshWithGhosh #RahulGandhi
Dubai government has put entire Real Estate data on a blockchain.
You can pretty much track: which apartment, in which building, at what floor, got sold for what price.
Such applications are being built on blockchain.
A blockchain can't really survive unless: you have a developer and an investor ecosystem thrive.
Cryptos allow us to lower the transaction cost, build open ledgers and make things transparent. As things become more transparent, corruption comes down.
Exchanges in India have been facing the brunt of excess taxation, lack of regulation and a bunch of hurdles.
If you are someone who supports: transparency and easy transactions, you should vouch for Blockchain and Crypto space.
Skimmed through the US White House Crypto report while having lunch.
It is 166 pages long and provides a detailed understanding of the digital asset ecosystem, the different market participants, stablecoins, taxation, and the origin and evolution of blockchain and bitcoin.
I will go through in more detail in the evening. But one thing is clear: the US has strong intentions. It sees blockchain and crypto as key levers to strengthen its leadership in the unfolding digital financial revolution.
It is time for India to act & lead too!
India collected a total of โน706 crore in crypto income tax over the last two financial years.
-FY2022โ23: โน269 crore
-FY2023โ24: โน437 crore
But hereโs the BIG problem. TDS India lost to offshore exchanges:
-FY22โ23: ~โน3,493 Cr
-FY23โ24: ~โน2,634 Cr
(Data from from Esya Centre's Report)
Due to high 1% TDS + 30% capital gains, millions of Indians now trade in offshore exchanges and stay non-compliant.
What can fix this?
-Eliminate the 1% TDS on crypto trades: Domestic trading and compliance would rebound.
-Lower the 30% capital gains tax: Will encourage more investors to invest for the long term & in higher volumes
Lower taxes = higher compliance, more volumes, and far greater revenues for Indiaโs web3 future!
I believe these simple reforms alone could 10ร India's crypto tax collections to over โน5,000 crore per year.
By making just a few key changes, we can bring trading volumes back to India and make India a global leader in crypto!
@smtgpt Investors left with no other option, other than waiting.
Come out clean @smtgpt, or it's a loss for crypto as a whole, and a yet another shame for our country in this space.