Here are a couple of quotes from the newest technological innovative companies dealing with crypto currencies – Quotes on Budget -2022-23.
Quotes on Budget -2022-23
“The government’s initiative of taxing crypto at 30% is a welcome move. The government also clarifies that crypto will be regarded as a digital asset. Still, the crypto industry may require more input from the finance ministry, but what brings rejoice is that the government is not hostile towards innovation and is flexible in appropriately adopting the technology. Crypto is here to stay,” said Rahul Kumar, Co-Founder of Lyca Island, a crypto micronation.
“The taxation on profit generation from crypto investments is a welcome move as it legitimizes the assets and its operations. We should be expecting some follow-up guidelines very soon on regulating the crypto assets operations from RBI and SEBI. The TDS on the transfer of assets is quite premature as there will be lot of confusion due to the complexity of the nature of various crypto assets,” says Praveen Kumar, Founder and CEO of Belfrics Group.