Coinbase to invest in Indian crypto and Web3 amid tax regulation clarity
Coinbase Ventures will conduct an in-person pitching event in Bengaluru to help accelerate India's financial inclusion goals via crypto and Web3 investments. Coinbase Ventures, an investment arm of American crypto exchange Coinbase, shared a plan to invest $1 million in various Indian cryptocurrency and Web3 initiatives via an in-person pitching event. In a blog post drafted while he was in India, Coinbase CEO Brian Armstrong revealed that the venture firm intends to tap into India’s software talent with the crypto and Web3 technologies and help accelerate India’s economic and financial....
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Coinbase is focusing on growing the crypto and Web3 ecosystem in India. “Combined with India’s world-class software talent, we believe that crypto and web3 technology can help accelerate India’s economic and financial inclusion goals,” said CEO Brian Armstrong.
Coinbase Expanding in India With Web3 and Crypto Push
The Nasdaq-listed cryptocurrency exchange Coinbase revealed its plan for India Monday. “India has built a robust identity and digital payments infrastructure and implemented it at rapid scale and speed,” CEO Brian Armstrong....
A recent survey by Deloitte shows that 82% of Indians plan to invest in cryptocurrency when the government provides more clarity surrounding the regulation of crypto assets. Moreover, 77.4% of respondents want cryptocurrency to be treated as securities.
Indian Crypto Survey: 82% Plan to Invest in Crypto Once It Is Regulated
Professional services firm Deloitte and the Times of India recently conducted a survey on cryptocurrency investing. The results were published Sunday.
Out of 1,800 respondents, 55.2% said they have invested in cryptocurrencies and will....
Payment services providers have also cut ties with major crypto exchanges despite having the same rate for gambling and fantasy sports platforms. Fresh data on Indian crypto exchanges’ trading volume reveals a significant decline in trading practices among Indians just ten days after the tax rule implementation. India’s new 30% crypto tax rule came into effect on April 1, despite many stakeholders and exchange operators warning against its ill effects. A research data report shared by Indian blockchain analytic firm Crebaco with Cointelegraph shows that trading volume on top Indian crypto....
The Indian government is reportedly planning to introduce cryptocurrency regulation by the time of the next general Budget, which is in February next year. Instead of banning cryptocurrencies, like bitcoin, the government is likely to regulate crypto assets as commodities, according to reports. Indian Crypto Law Could Comes as Early as February The Indian government is planning to introduce cryptocurrency regulation in February next year, local news outlet Business Today reported, elaborating: Finance Ministry officials have told Business Today Television that a law for cryptocurrencies....
An Indian industry association has written to the country’s finance minister seeking clarity on cryptocurrency taxation in Union Budget 2022-23. “The budget should ideally offer coherent rules on direct taxation and the GST Council should detail the applicability of taxation, else there will be confusion.”
Industry Wants Clarity in Crypto Tax Laws in Union Budget 2022-23
Indian industry association Indiatech has written to the country’s finance minister, Nirmala Sitharaman, regarding cryptocurrency taxation. The association represents major....