Consultation paper on cryptocurrency ready: Ajay Seth
Countries that chose to prohibit crypto can't succeed unless there is a global consensus around it, says DEA secretary Ajay Seth.
Countries that chose to prohibit crypto can't succeed unless there is a global consensus around it, says DEA secretary Ajay Seth.
As per the new crypto tax law, loss from the transfer of virtual digital assets will not be allowed to be set off against the income arising from transfer of another VDA.
The crypto industry seems to be disheartened as it believes such measures would discourage investor participation in the emerging asset class.
Industry observers have exhorted governments around the world to classify cryptocurrencies as digital asssets and not currencies.
While use of blockchain technology must be encouraged in all spheres of economic or social activities, it should not be linked to cryptos, demanded SJM.