Trade Promotion Council of India (TPCI), will be organizing a webinar on The Future of Cryptocurrency in India on 9th March 2022 (Wednesday), 3:00 pm. The panelists will deliberate upon the growth of cryptocurrency in India and the implications of policy mechanisms being devised to regulate this sector.
Trade Promotion Council of India (TPCI), will be organizing a webinar on The Future of Cryptocurrency in India on 9th March 2022 (Wednesday), 3:00 pm. The panelists from industry and academia will discuss the growth of cryptocurrency in India and the implications of policy mechanisms being devised to regulate this sector.
Experts believe that cryptocurrencies are intended to revolutionize finance and have the potential to play a critical role in how finance pans out in the future. These borderless transactions have, of late, become very popular all over the world, with India being among the top countries as far as cryptocurrency market is concerned. One of the reasons for this is that cryptocurrencies and other crypto products (like non-fungible tokens or NFTs) entail decentralized finance.
Given the growing popularity of cryptocurrencies in India, the government is working on the ‘Cryptocurrency and Regulation of Official Digital Currency Bill’. What makes this even more interesting is that the proposed bill also seeks to prohibit all private cryptocurrencies in India (with some exceptions) and introduce an official digital currency to be issued by the Reserve Bank of India. Another recent development is that while India has decided to not recognise bitcoin as a legal tender, the 2022-23 Union Budget has proposed to impose a 30% tax on gains made on such trades, besides subjecting crypto transactions beyond a threshold to 1% TDS.
In context of the ongoing debate on whether crypto currency is a boon or a bane, this webinar analyses the implications of cryptocurrency for businesses & the economy and the possible contours that cryptocurrency regulation should now take.
The focus topics for the webinar are:
● The factors driving cryptocurrency’s global adoption
● Implications of cryptocurrency for businesses
● Why does cryptocurrency need to be regulated & what is the crypto bill?
● Industry’s take on the budget proposition of imposing tax on gains from crypto transactions
● India having an official digital currency and its implications
The speakers for the session are as follows:
● Sumit Gupta, Co-Founder and CEO, CoinDCX
● Dr Sushmita Ruj, Senior Lecturer, School of Computer Science and Engineering, University of New South Wales, Sydney
● Sanchit Vijay, Partner – Deals & Valuations, Corporate Professionals
● Dr Suranjali Tandon, Assistant Professor, National Institute of Public Finance and Policy
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