India’s crypto tax is a gov’t attempt to ‘displace’ the tech — Lawyer

At the recent P2PFISY workshop in Dubai, Amit Kumar Gupta, a legal practitioner at the Supreme Court of India, presented a research paper on India's crypto taxation, highlighting the challenges and potential consequences of high tax rates. Gupta explained that India’s crypto and blockchain space is heavily taxed but unregulated. While officials aim to regulate the market and curb illegal activities, experts argue that strict policies may stifle innovation and drive talent away. This article explores how these regulatory measures could impact the future of Web3 development in one of the world's largest markets.