Deloitte: 82% of Indians Surveyed Plan to Invest in Crypto Once Government Provides Regulatory Clarity

Deloitte: 82% of Indians Surveyed Plan to Invest in Crypto When Government Provides Regulatory Clarity

A recent survey by Deloitte shows that 82% of Indians plan to invest in cryptocurrency when the government provides more clarity surrounding the regulation of crypto assets. Es más, 77.4% of respondents want cryptocurrency to be treated as securities.

Indian Crypto Survey: 82% Plan to Invest in Crypto Once It Is Regulated

Professional services firm Deloitte and the Times of India recently conducted a survey on cryptocurrency investing. The results were published Sunday.

Fuera de 1,800 encuestados, 55.2% said they have invested in cryptocurrencies and will continue to do so. A further 26.8% said they have not invested in crypto but are willing to invest once the government provides more clarity regarding cryptocurrency regulation in India. Mientras tanto, 10.3% said they have invested in crypto but will avoid investing in this asset class in the future. The remaining 7.8% said that they are against investing in crypto. The report also notes that about 20 million people in India have invested in cryptocurrency.

When asked about their understanding of cryptocurrency, 48.5% of respondents said they would like to learn more about crypto investing, 39% said they understand crypto assets really well, y 12.5% said they are not familiar with the concept at all.

Es más, la encuesta encontró que 77.4% of respondents want cryptocurrency to be treated as securities. Sin embargo, at least 58% of investors surveyed were not aware of the tax implications of investing in cryptocurrencies.

Regarding crypto regulation, más que 62% want the government to issue clear guidelines while 30% want measures to be adopted to make the asset class more popular. Por otra parte, 10% want crypto assets banned.

Saraswathi Kasturirangan, a partner at Deloitte, comentado:

Investments in cryptocurrencies have witnessed a sharp growth in India; sin embargo, the crypto industry has long been awaiting the cryptocurrency bill to be passed detailing the regulatory compliances surrounding cryptocurrencies and the taxability under direct and indirect tax laws.

Señalando que “Corrientemente, there are no specific provisions on taxability of gains made from cryptocurrency in India and hence there are open issues,” the Deloitte partner opined: “The government should come up with specific provisions with detailed rules on taxation of cryptocurrency covering the above open issues.

The Indian government is still working on a cryptocurrency bill which was listed to be considered in the winter session of parliament but it was not taken up. The government is reportedly reworking the bill.

A principios de este mes, Indian Prime Minister Narendra Modi called for global collaboration on crypto, declarando, “We have to have a similar mindset.” Mientras tanto, India’s central bank said that cryptocurrency is prone to fraud. El Banco de la Reserva de la India (carreras impulsadas) has recommended a complete ban on crypto, noting that a partial ban will not work.

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