In a draft document titled, “Regulatory Sandbox: They Key To Cryptocurrency Mass Adoption In India’, Delhi-based crypto exchange BuyUCoin has put forth arguments in favour of cryptocurrency adoption in India
The recent draft document suggests bringing crypto earnings under the purview of tax, where working professionals would have to declare their crypto earnings under a separate provision of the Income Tax Act
The BuyUCoin document talks about the need for inclusion of cryptocurrencies in the Reserve Bank of India’s (RBI) Regulatory Sandbox
As speculations about an impending ban on cryptocurrencies refuse to die down, stakeholders in India are pulling out all stops to get the government on their side. Besides engaging in a dialogue with government agencies to allay their fears about nefarious use cases of cryptocurrencies, industry stakeholders in India have also been suggesting…