IndiaTech, a tech industry association whose members include Zebpay, CoinDCX, Coinswitch Kuber, and WazirX, wants the Indian government to only let registered or founded-in-India cryptocurrency exchanges operate such businesses. In a letter viewed by MediaNama, IndiaTech also requested the Finance Ministry to clarify taxation around crypto assets in the upcoming Budget Session. It further argued that by allowing only "Indian founders to operate such businesses", the country will be able to save money that would otherwise have to be paid to foreign exchanges. "It is recommended that minimum ownership of 26% by Indian founders/entities in Crypto exchanges like the practice followed in the banking sector in India (FDI cap at 74%)," the letter read. Before the Indian government brings in legislation to regulate the crypto industry, it is necessary to take into account the recommendations of all stakeholders for achieving…
- PrivacyNama Session: Privacy and Competition; October 7 October 4, 2022
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- PrivacyNama Session: Data Protection Regulator Roundtable; October 7 October 4, 2022
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