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While regulatory clarity remains a work in progress, India's embrace of the Financial Intelligence Unit (FIU) registration requirement is a positive step, creating a safer trading environment for all.
The Bharat Web3 Association (BWA) proposed that the government either form a panel to discuss model legislation in consultation with the industry or release a discussion paper on the subject within the first 100 days of forming the new government
Being recommendatory in nature, VDA platforms are expected to follow operational frameworks and protocols during the token listing process, the crypto and web3 industry body said.
AlgoBharat has partnered with T-Hub, the Telangana government-led tech incubator, to introduce the Algorand Startup Lab program
The crypto industry players assert that the virtual and digital assets (VDA) industry was looking forward to slashing of capital gain tax rate and TDS, however, their hopes have not been dashed, albeit pushed to a later date