Big news for those who invest in cryptocurrencies – the government may announce soon

Tax on crypto has been announced in the budget, but the picture is not completely clear on this. Exchanges are entangled in this, investors are not able to understand the situation. Here are every update related to crypto-

Big news about cryptocurrency

What was the announcement of tax on virtual digital assets in the budget, crypto (CryptocurrencyThe whole world was shaken. investors (Investors) And for the exchanges doing the trading, there has been a situation of happiness, somewhere like sorrow. 30% on profits from crypto on investors tax ,Tax) was killed. If you do trading then you will have to pay 1% TDS. Investors are unhappy about this. Unlike investors, the pain of exchanges is another. Exchanges are upset that 1% TDS ,TDS) is going to increase the tax complications for them. Now most of the investors on these platforms are Indians who live across the ocean. Now the law says that 2% equalization tax is also levied on such investors. It is only from here that the confusion of exchanges has increased. For this reason, crypto exchanges want the government to completely clear the picture on the tax issue as soon as possible.

What is the government’s preparation

The government intends to introduce clear tax rules in this matter before April 1. The objective is to broaden the definition of virtual digital assets so that no future digital asset remains outside it.

Well, due to the tax in the budget, the exchanges are also relaxed about the fact that now the government will not ban crypto at least if the tax is imposed…Investors are getting themselves registered on the exchanges.

An exchange excited by the increasing number of investors has even launched SIP in crypto. That is, keep buying crypto every month by investing a little money.

Three Indians, who founded Polygon, a secondary scaling solution for the Ethereum blockchain, have also received funding of $450 million. That is, even big investors remain bullish on companies related to crypto.

In contrast to the turmoil of crypto, the Reserve Bank is rapidly preparing to launch its own digital currency. RBI is feeling that if digital currency comes, then its cost of printing notes will be very less.

read this also-Budget 2022: Investors in confusion regarding TDS on securities, the government can solve it in the budget!

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