“For short-term investors who are into day trading, margin trading, arbitrage trading, the 1% TDS becomes infeasible. The majority of the population is still waiting on the fence, once we see the bill then we should see exponential growth. India is very rich in talent. Most tech-savvy people are here. So, if India gets the right crypto framework, it can be the next Silicon Valley,” he said.
India’s Crypto Industry Fears Proposed Tax Rules Will Increase ‘Brain Drain’
