Indian FM updated on Crypto developments
Indian FM updated on Crypto developments
The Parliament Session
The Parliament Session
The Finance Minster of India Nirmala Sitharaman addressed the parliament, updating them on crypto developments.
Crypto policies
Crypto policies
FM stated that the crypto policies are under development and the crypto ecosystem is being studied by the GOI.
Probe against Exchanges
Probe against Exchanges
907 cr have been seized under money laundering act and 290 cr under FEMA. 12 Crypto exchanges are probed for GST evasion.
India's growth in FY23
India's growth in FY23
The government of India also stated that India is bound to grow at a rate of 6.8% & will be the fastest growing nation.
Introduction of GST
Introduction of GST
The govt. is also planning to introduce GST on cryptos starting next year. The discussions are in process.
RBI against Crypto
RBI against Crypto
RBI has a strong stand against cryptocurrencies. Acc. to it, crypto will disrupt the economy and also result in money laundering.
Statement from FM
Statement from FM
Finance Minister of India while addressing the Lok Sabha stated that RBI wants to ban crypto but need global support from the nations.
Where is crypto heading?
Where is crypto heading?
Crypto industry crashed from $3 trillion to $870 billion this year. There's no sign of recovery and things will take longer to recover.
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