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A recent survey by Deloitte revealed that 82 Indians have decided to invest in cryptocurrencies once the government provides more clarity including regulation of crypto assets. Additionally, 77.4% of respondents want to consider cryptocurrencies as securities.
Professional services firm Deloitte and The Bharat Times recently conducted a survey on cryptocurrency investments. Results are printed on Sunday.
Of the 1,800 respondents, 55.2% said they needed to invest in cryptocurrencies and could still do so.An additional 26.8% said they did not need to invest
However, the crypto regional unit is willing to take a stand once the government provides additional clarity on Bharat’s cryptocurrency regulation. Meanwhile, 10.3% of respondents said they need to invest in cryptocurrencies, but can avoid investing in this quality category in the future. The remaining 7.8% said they were opposed to investing in cryptocurrencies. The report also pointed out that about 20 million people in Bharat have invested in cryptocurrencies.
When asked about their understanding of cryptocurrencies, 48.5% of respondents said they might want to learn more about crypto investing, 39% said they had a very good understanding of cryptoassets, and 12.5% said they Don’t know anything about these ideas.
Additionally, the survey found that 77.4 percent of respondents want to consider cryptocurrencies as securities. However, at least 58 of the investors surveyed did not respond to the tax implications of investing in cryptocurrencies.
Sixty-two wanted a clear government announcement on cryptocurrency regulation, while Half Hour wanted to take steps to create a more popular quality category. On the other hand, 100% want crypto assets to be illegal.
Deloitte partner Saraswathi Kasturirangan commented:
Investments in cryptocurrencies in India have seen significant growth; however, cryptocurrency exchanges have long waited for the passage of the Cryptocurrency Bill to describe regulatory compliance including cryptocurrencies and responsibilities under the Direct and Revenue Enhancement Act.
The Deloitte partner noted, “Currently, Bharat does not have any specific regulations on liability for crypto earnings, so there are unresolved issues,” and the Deloitte partners believe: “The government should go back to specific regulations and develop detailed tax rules for cryptocurrencies. Covers unresolved issues.”
The Indian government is still enforcing a cryptocurrency bill that has been included in the winter session of parliament for consideration, but it is definitely not on the radar. The government is reportedly in the process of amending the bill.
Earlier this month, Indian Prime Minister Narendra Modi launched a world collaboration on cryptocurrencies, saying: “We must have the same mentality.” Meanwhile, Indian financial institutions said that crypto currency is
vulnerable to fraud. The Reserve Bank of India (RBI) has proposed a blanket ban on cryptocurrencies, noting that a partial ban will not work.
post Deloitte India Cryptocurrency Survey: 82% Decide to Invest After Cryptocurrencies Are Regulated first appeared in bitcoin wire.
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