Indians need clarification on cryptocurrency regulation

According to a new survey of over 1,000 digital respondents, in the 2019 budget session of Parliament, which begins on January 31, 79 percent of Indians want more clarity on cryptocurrencies and non-fungible token (NFT) legislation.

  1. According to a survey done by tax and consulting firm Grant Thornton Bharat, 61 percent of Indians want a regulatory sandbox approach for decentralized finance (DeFi) technologies.

However, 36% of Indians believe that government efforts on DeFi should take precedence over increasing crypto literacy.

IndiaTech, an industry association that represents internet businesses, had requested clarification on bitcoin taxation in the next budget from the finance minister earlier this month.

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