Ashish Singhal, Founder and CEO, Coinswitch and Co-chair Blockchain and Crypto Asset Council (BCC) We welcome the government’s decision to introduce the central bank’s digital currency (CBDC) to accelerate digitization.
We also believe that various budget steps to increase digital payment adoption will show more Indians who are digital-quietly into financial ecosystems that are willing to explore newer forms of investment and wealth creation.
Regulatory guidelines on taxes from the government are further from the joy of mainstreaming from this arising asset class with investments worth more than $ 6 billion in India.
It is also a gateway to the world decentralized the future, aka web3.0.
Indians who understand digital are currently willing to experiment with this arising asset class.
The budget provides taxation clarity and shows the government’s intention to take a business-friendly approach while protecting consumer and togetherness interests.
We hope to work with the government to help bring taxation crypto-assets equivalent to other asset classes and participate in the central government’s vision to promote economic growth.
Melbin Thomas (Co-Founder, Sahicoin) is very much to see that the government has taken a positive step towards regulating digital assets.
This will change many misunderstandings around Crypto’s assets and open the way forward to classify it as a separate asset class.
The government mandates 1% TDS for each trade will allow it to track Crypto transactions and provide visibility that is needed on holders and Crypto assets users.
Digital Rupee (CBDC) will be a game changer for the Indian economy.
This will enable efficient and cheaper and cheaper currency circulation.
It’s not just a victory for Indian digital but also for the adoption of Blockchain technology, opening new doors for innovation, monetary efficiency and strong economy.
For the long term, India will have the infrastructure needed to emerge as leaders of global financial technology in the coming decades.
Sumit Gupta Co-Founder and COINDCXTangya CEO looked forward and inspirational.
It has touched the main points that will help us create modern, strong, digital and sustainable growth.
We welcome the budget and congratulate the Minister of Finance for a futuristic budget.
Taxation Virtual Digital Assets or Crypto are steps in the right direction.
This provides very much-needed clarity and confidence for the industry.
India’s focus on digital innovation and blockchain technology promotion is welcome.
The introduction of CBDC sends clear signals from India into a system that is driven by the first, efficiency, and transparency.