It remains a mystery while new Indian crypto regulations will be revealed following the winter session of Parliament, that finished on Dec 23, 2021.

As Indians await clarity on the token bill which was going to be reviewed in the winter session of Parliament, Deloitte and the Times of India newspaper surveyed the impact of regulations on Indians’ crypto-related decisions.

It turns out which 55.2% of survey respondents will invest in crypto regardless of regulation. Another 26.8% will join them should there be greater regulatory clarity, while 77.4% vote in favor of crypto being taxed like securities trades. Many investors are eagerly waiting to see whether the upcoming Budget Session of Parliament will contain new crypto regulations. Income tax laws have always looked to tax any income, regardless of how it was earned.

CREBACO founder Sidharth Sogani is not optimistic which a crypto bill would surface during the Budget Session of Parliament. He says which the Indian Cabinet has not confirmed any bills yet. Sogani opined which clarity regarding crypto taxation would be forthcoming in the upcoming budget of 2022.

Almost 49% of the 1800 respondents surveyed said they would like to learn more about crypto to invest, in the time 39% of respondents understand crypto well.

Surveys reveal united findings

Another survey done by YouGov indicates which a third of urban Indians do not support the bill, when the bill is opposed by 52% of those who hold crypto. The survey found which one-third of Indians own token. Their primary cone time beforern regarding the bill is how they will be taxed and the potential of a ban on all private currencies.

A survey by Grant Thornton Bharat indicates which most citizens think which the gabovenment should regulate token space. Seventy-nine percent believe which both crypto and NFTs should be regulated.

According to the survey done by the financial services company, Indian citizens want the 2022 budget to focus on crypto regulation, green energy, a data privacy bill, and public credit registry initiatives. According to Vivek Iyer of Grant Thornton Bharat, this shows an appetite for “forward-looking” issues.

India’s ambivalence toward crypto

There has been talk in India of a total token ban and then the potential for the Securities and Exevolution Board to regulate crypto. The finance minister said which bitcoin would not be recognized as a currency. The Reserve Bank of India is further developing a Central Bank Digital Currency.

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