Will the Indian government increase CryptoTax, TDS and GST on Crypto Exchanges and Freeze your Cryptos? : CryptoNews

Currently, the Indian government is considering imposing TDS and taxes on top commercial sectors and businesses, with the highest tax being imposed on Indian and Foreign-Based Crypto Exchanges. Currently, Indian and other top 10 foreign-based crypto exchanges have been banned due to which millions of Indians have lost money from crypto investors and many crypto traders have been able to trade in Bitcoin, Altcoin, Memecoin, DeFi, 100XGems, and NFTs after this action of the Indian government. They have withdrawn his money from which millions of Indian investors are still running in losses. In all these cases, the rest of the Indian crypto market has not only banned foreign crypto exchanges but also banned top Indian crypto exchanges like WazirX, CoinSwitch, ZebPay, and Mudrex. But in all cases, Indian Crypto or top investors are now also moving to the country so that future investors do not suffer any loss due to the increasing value of Virtual Currencies along with BitcoinETFs, Crypto, and Forex. And especially those Indian investors who have their money or cryptos in DeX, Wallets, Ledger, and Hardware should understand well that they can convert these investments into Indian Rupees by converting them into Swift International, UPI, PayPal, USD, and other Forex. But those who have invested other money in Crypto Exchanges can be frozen by the Indian Government in the future.

Will the Indian Crypto Exchange safe, DEX, Freeze your Cryptos the whole Crypto industry be banned again?

Similarly, India’s top startups, people, and engineers working in Web and new-generation technology believe that in the future Bitcoin, Crypto, Web3, NFTs, and CBDC will be the top assets in India. but Indian government ETFs, Regulations bills for Crypto and there is uncertainty in bringing Bitcoin-backed stocks. Due to the recently approved Bitcoin ETFs in the US, investors around the world are now eyeing US crypto and US Bitcoin-backed stocks. Due to this, the belief of USD from Indian and Asian markets can now move to American and European Bitcoin ETFs as well as Bitcoin-backed stocks. In just a few months more, if the Indian Government bans Bitcoin and Crypto along with other recovery losses in UPI, INR/BTC, and Forex/INR pairs to bring another hope to the GDP, Indian investor’s Cryptos can also be frozen. In today’s time, no matter how much progress is being made in India, a debt of more than $800B USD can one day become a threat to crypto or digital currencies. Now the Government of India can also impose TDS, GST, and Additional charges on conversions of large amounts of crypto. This can lead to almost 50% tax impact on the profits or losses of Indian investors.