Lawyer: India's harsh cryptocurrency tax reflects its lack of understanding of the technology
ChainCatcher news, according to Cointelegraph, at the 2024 peer-to-peer financial systems seminar, legal practitioner Amit Kumar Gupta presented a research paper on cryptocurrency taxation in India.
Gupta stated that India imposes heavy taxes on the cryptocurrency industry and blockchain sector, but it is unregulated, reflecting their lack of understanding of the technology, as they believe these technologies are only used for illegal purposes such as money laundering and terrorist financing.
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