Indian government is literally doing: Your profit our profit, Your loss your loss

​Lok Sabha is analogous to Congress in the USAIndian gov is passing a new bill that will make people pay:i) 30 % tax on each profitii) No loss setoffIndian financial cycle is completes on 31st March. People are planning to sell on 31st and buy back on 1st to make their losses count in the previous FY and the current holdings can be shown as purchase.This is why DEXes are important, but the only problem is how to get your fiat into crypto for the first time. People mostly use Binance P2P but now Binance asks for KYC it is becoming increasingly hard to own crypto without the government knowing about it.

Submitted March 26, 2022 at 12:55AM