Crypto industry India needs regulations
New Delhi : While the cloud of uncertainty gathers on Crypto Regulation Bill, panic mood keeps on growing inside crypto industry, on the same ground today in
New Delhi at Press Club of India. Supreme Court Advocate Mr. Narayan Rao conducted an address to the nation on topic 'Parliament Enactment on Crypto Bill 2021.'
He said, "The world is moving fast with the investment in the crypto industry and blockchain technology why India is lagging behind. Because since last two years we are unable to provide the necessary framework to the industry. It is our duty to provide Working guidelines of taxation and code of conduct.
On one hand, we are having more than 10 crore Indians who have invested more than 6lacs crore in crypto. The government needs to understand and come up with regulations otherwise not only investors will lose the money but also the government losses the tax on the business.
Guest Speaker Mr. Vikram Bagga, a famous youtuber said, "Every person should understand their limits of investment and risk taking before investment and also understand the very origin of respective crypto to ensure the profitable outcomes. It is also necessary to learn the basics of crypto to understand which crypto they should invest in. "
Mr. Ravinder Potdar said, "We have studied the drawbacks of foreign cryptos and come up with the unique solution in the form of first ' Make in India Crypto ' BIGH BULL TECHNOSOFT LLP.
In which buyers can send their money through a bank and locate both money transactions as well as crypto transactions. Crypto is the asset of the future and we have to cope up with this. Sooner the better. Currently, we are serving more than 20,000 people since launching in Delhi on 9th Nov, 2021.
Mr. A.N. Rao said, "everybody believes in government . And to maintain this relationship govt should invite industry stakeholders from every stretch of India, and consider the views as the crypto industry is very new to everyone. The upcoming bill must have consideration of all aspects as it would affect the 10 crore population.
Adv. Mr. Prabhat Kumar said, "the bill must be composed with a better study of previous bills and proposals."
