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As the Indian crypto industry eagerly awaits the Interim Budget 2024, experts are focused on how the Central Government will shape regulations for virtual digital assets (VDAs). One key demand is the abolition of the 1% Tax Deducted at Source (TDS), which hampers investor participation. Industry voices hope for a reduced TDS rate of 0.01% and the ability to offset losses against gains.
Discover the latest expansion in the crypto world as OKX obtains a regulatory license in Dubai, and Binance opens a new exchange in Thailand.
Participation in foreign stock and ETF markets by Indian investors is regulated by the Reserve Bank of India's Liberalised Remittance Scheme (LRS). However, Indian investors need much more than SEC’s green signal amid repeated warnings by the RBI governor in the recent past.
India blocked access to foreign cryptocurrency exchanges like Binance, Kucoin, and OKX, as well as virtual digital asset service providers. The Android versions of these apps are also expected to be removed.
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