More Columns by T C A Srinivasa-Raghavan
The Finance Ministry’s position on cryptocurrencies has caused much gnashing of teeth over the lack of clarity.
However, as it turns out, the Ministry seems to know exactly what it is doing and has been quite clear in its stance, namely, we will tax your gains but your losses are your own.
The latest official statement on cryptocurrencies comes in the form of a written Lok Sabha answer by Finance Minister Nirmala Sitharaman on July 18, 2022.
“Cryptocurrencies are by definition borderless and require international collaboration to prevent regulatory arbitrage. Therefore, any legislation for regulation or for banning can be effective only after significant international collaboration on evaluation of the risks and benefits and evolution of common taxonomy and standards.”
In other words, there’s not going to be any regulatory legislation on cryptocurrencies, probably for decades. That’s the bad news for investors because even in the best of...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...