yourstory.com
Open in
urlscan Pro
130.211.11.154
Public Scan
Submitted URL: http://lnk2.nc.yourstory.com/vtrack?clientid=53775&ul=VQAOAw8GBBgEGlhLQFNTWQdaBVIfDgQNAAwVBSNbVhJVDBcCClRPXxZEB1RYU1YGAxoOWQ4...
Effective URL: https://yourstory.com/the-decrypting-story/is-the-future-of-crypto-bright-in-indias-financial?utm_source=Email&utm_med...
Submission: On October 30 via manual from SG — Scanned from DE
Effective URL: https://yourstory.com/the-decrypting-story/is-the-future-of-crypto-bright-in-indias-financial?utm_source=Email&utm_med...
Submission: On October 30 via manual from SG — Scanned from DE
Form analysis 1 forms found in the DOM
<form autocomplete="none" class="sc-zsjhC ALQPZ">
<div height="0.8" class="sc-ftvSup hbGRnG"></div>
<div class="sc-gsnTZi NbXqY">
<div class="sc-dkzDqf jHLSQG"><input type="text" name="first_name" placeholder="First Name*" autocomplete="none" required="" class="sc-eoXOpV cfzhoa" value=""></div>
<div class="sc-dkzDqf jHLSQG"><input type="text" name="last_name" placeholder="Last Name*" autocomplete="none" required="" class="sc-eoXOpV cfzhoa" value=""></div>
<div class="sc-dkzDqf jHLSQG"><input type="email" name="email" placeholder="Email*" autocomplete="none" required="" class="sc-eoXOpV cfzhoa" value=""></div>
<div class="sc-dkzDqf jHLSQG"><input type="tel" name="phone_number" pattern="^[0-9]*$" placeholder="Contact No." autocomplete="none" maxlength="15" class="sc-eoXOpV cfzhoa" value=""></div>
<div class="sc-dkzDqf jHLSQG">
<div class="sc-cBsrDa fqnMTx"><input type="text" name="city" placeholder="City" autocomplete="none" class="sc-eoXOpV cfzhoa" value=""></div>
</div>
<div class="sc-dkzDqf ggCBBU">
<div class="sc-ksjCef dDEMag">
<div class="sc-dpkrwT NZGuf">
<div>
<div>
<div style="width: 164px; height: 144px;">
<div><iframe title="reCAPTCHA"
src="https://www.google.com/recaptcha/api2/anchor?ar=1&k=6LekYn4eAAAAAHLjh7SiatgImhRxfwLLj0ib0PQ7&co=aHR0cHM6Ly95b3Vyc3RvcnkuY29tOjQ0Mw..&hl=de&type=image&v=NJPGLzpIZgjszqyOymHUP0XR&theme=light&size=compact&badge=bottomright&cb=2vfdtf4k8iw2"
width="164" height="144" role="presentation" name="a-4evluqwnh8xp" frameborder="0" scrolling="no"
sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox"></iframe></div><textarea id="g-recaptcha-response" name="g-recaptcha-response"
class="g-recaptcha-response" style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea>
</div>
</div>
</div>
</div>
</div>
<div class="sc-kMizLa bNoJAY">
<div class="sc-dpkrwT NZGuf">
<div>
<div>
<div style="width: 304px; height: 78px;">
<div><iframe title="reCAPTCHA"
src="https://www.google.com/recaptcha/api2/anchor?ar=1&k=6LekYn4eAAAAAHLjh7SiatgImhRxfwLLj0ib0PQ7&co=aHR0cHM6Ly95b3Vyc3RvcnkuY29tOjQ0Mw..&hl=de&type=image&v=NJPGLzpIZgjszqyOymHUP0XR&theme=light&size=normal&badge=bottomright&cb=2erztkg8uzoy"
width="304" height="78" role="presentation" name="a-jyywxttkmkt9" frameborder="0" scrolling="no"
sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox"></iframe></div><textarea id="g-recaptcha-response-1" name="g-recaptcha-response"
class="g-recaptcha-response" style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea>
</div><iframe style="display: none;"></iframe>
</div>
</div>
</div>
</div>
</div>
<div class="sc-dkzDqf deAErG"></div>
<div class="sc-dkzDqf ggCBBU"><input type="submit" class="sc-wAnfg cAldKE" value="SUBSCRIBE"></div>
</div>
</form>Text Content
Menu Go to Home Stories & Media Brands of New IndiaSMB StoryYS GulfHerStorySocialStoryEnterprise StoryThe Decrypting StoryThe CaptableYS LifeYS HindiYS TamilCreators StoryAutoStory Videos YourStory TV Learn YS EducationLearn By YourStory More CompaniesList Your StartupPartner with UsMyStoryYS ResearchAbout Us Events All EventsBrand ResidencyFuture of WorkFuture of GovernanceWomen on a missionTechsparksThe Metaverse Summit Stay Connected Download YourStory App : Stories Your Story SMBStory YS Gulf HerStory SocialStory Enterprise Story The Captable The Decrypting Story Creators Story YS Life YS Hindi YS Tamil AutoStory Videos Money Matters Daily Dispatch by YourStory C-Suite with Shradha Sharma Human Beyond Resources Build and Grow DIGIRUPT Finance Super Shippers All videos Companies Browse Startups List your Startups Events All Events Brand Residency Techsparks The Metaverse Summit Future of Work MSME Summit Women on a mission Brands of New India More About US Meet the team Partner with Us MyStory YS Research YS Education Learn By Yourstory EnglishHindiTamil Login Stories Your Story SMBStory YS Gulf HerStory SocialStory Enterprise Story The Captable The Decrypting Story Creators Story YS Life YS Hindi YS Tamil AutoStory Videos Money Matters Daily Dispatch by YourStory C-Suite with Shradha Sharma Human Beyond Resources Build and Grow DIGIRUPT Finance Super Shippers All videos Companies Browse Startups List your Startups Events All Events Brand Residency Techsparks The Metaverse Summit Future of Work MSME Summit Women on a mission Brands of New India More About US Meet the team Partner with Us MyStory YS Research YS Education Learn By Yourstory EnglishHindiTamil Login * Cryptocurrency IS THE FUTURE OF CRYPTO BRIGHT IN INDIA’S FINANCIAL SECTOR? By Punit Agarwal October 24, 2022, Updated on : Tue Oct 25 2022 10:18:02 GMT+0000 The possible future of crypto finance in India is a topic full of promise and pitfalls. As the Indian government steadily approaching developments in crypto finance, there can’t be a better time for crypto enthusiasts to explore the space. 370 claps * +0 * Share on * * * * 370 claps * +0 * Share on * * * * Share on Crypto finance has been widely adopted by developed economies and has strong backing in the United States and Japan. Vietnam ranks first in cryptocurrency adoption with an index ranking of 1.000, with India not far behind at the 4th rank with an index score of 0.663 - as stated in the Chainalysis 2022 Global Crypto Adoption report. The possible future of crypto finance in India is a topic full of promise and pitfalls. The Indian government is steadily approaching developments in crypto finance, and there can’t be a better time for crypto enthusiasts to explore the space. The regulatory framework and investor awareness for cryptocurrencies are evolving everyday, and many see this as a new digital payment mode and investment asset class. The Indian cryptotech market has been extremely active, receiving traction gradually but steadily. According to a Nasscom report, with over 15 million retail investors and more than 60% of the states in India emerging as CryptoTech adopters, the market size is expected to cross $241 million by 2030. In addition, Peer-to-Peer (P2P) platforms have aided in the widespread adoption of cryptocurrency among the tech-savvy generation. P2P platforms like Paxful, for example, enable the exchange of cryptocurrencies between two individuals directly without needing an intermediary. A strong institutional presence and almost 230 startups in this industry provide many prospects for expansion. The Indian crypto market is estimated to attain 2x faster growth by 2030 with over 8 lakh job opportunities. BRINGING INVESTOR AWARENESS Crypto finance is a niche industry where investors need to be educated on returns, risks, and taxation. The government’s announcement of a 30% tax on profits from digital assets and an additional 1% TDS on transactions above ₹10,000 left crypto investors befuddled and unsure about how to proceed. . Sign up for our exclusive newsletters. Subscribe to check out our popular newsletters. * indicates mandatory fields With this development, Indian investors are looking for ways to evaluate their taxes promptly and consistently. This is where automated crypto taxation platforms come in.Such platforms enable crypto investors to automate taxation by integrating their portfolios and transactions on a unified platform with a consolidated dashboard. These platforms come integrated with various crypto exchanges to automate calculation of tax implications for crypto users. Currently, 66% of crypto investors are under 35 (as per a recent report by an Indian crypto exchange), indicating the popularity of crypto among the country's youth. We can rely on increased regulation and education & awareness to reduce skepticism around cryptocurrencies in the near future, to attract millennials and seasoned investors to the community. DIGITAL CURRENCY'S ROLE IN ADOPTION The Indian government and the Reserve Bank of India (RBI) are taking a conscious and determined approach to cryptocurrency regulation in the country. The RBI has proposed a centrally regulated digital currency - CBDC (Central Bank Digital Currency), which acts as a legal digital tender. Digital fiat currency can be transacted on the blockchain using wallets, just like other decentralized cryptocurrencies. This newly proposed framework has the potential to streamline and regulate cross-border payments. Its main aim is to act like a viable digital payment alternative for retail merchants and wholesalers in India, reduce dependency on cash, lower transaction costs, and settlement risk. THE FUTURE LOOKS BRIGHT RBI has sincerely tapped on the risks associated with virtual currencies, recommending caution before investing in them. At the same time, the government recognizes the potential benefits of the digital rupee to boost digital payments across the country and help save the cost of printing, preserving, and distributing traditional currencies. We anticipate that the government’s gradual and steady move towards the acceptance of digital assets will pave the way for a more evolved and thriving crypto community in India. With technological advancement and the government’s cognizant approach, crypto promises a robust path for the future of finance in India. -------------------------------------------------------------------------------- Edited by Akanksha Sarma * Cryptocurrency * CBDC * blockchain adoption 0 Shares * +0 * Share on * * * * 0 Shares * +0 * Share on * * * * Share on TRENDING NOW Trending Stories WHY THE NEW-AGE USED CAR RETAILING MODEL HAS COLLAPSED ADANI GROUP TO INVEST $150B IN PURSUIT OF $1T VALUATION TEACHMINT’S JOURNEY TO 30 COUNTRIES AND 1.5 CRORE USERS ELON MUSK SAID TO BEGIN LAYING OFF EMPLOYEES AT TWITTER: REPORT Daily Capsule The twists and turns of Musk-Twitter deal Read the full story LATEST Updates from around the world INDIA BECOMING A MAJOR MANUFACTURING HUB; OUR POLICIES STABLE, PREDICTABLE: PM MODI ADANI GROUP TO INVEST $150B IN PURSUIT OF $1T VALUATION ‘TO LIVE IS TO KEEP LEARNING’ - KATAOKA MAMI, ARTISTIC DIRECTOR, AICHI TRIENNALE 2022 ELON MUSK SAID TO BEGIN LAYING OFF EMPLOYEES AT TWITTER: REPORT THE TWISTS AND TURNS OF MUSK-TWITTER DEAL KEERTI SINGH AND KASHYAP REDDY ON HARNESSING INDIA’S ENTERTAINMENT-HUNGRY MARKET This website uses cookies to ensure you get the best experience on our website.Learn more Got it! Stories & Media Brands of IndiaSMB StoryYS GulfHerStorySocialStoryEnterprise StoryThe Decrypting StoryThe CaptableYS LifeYS HindiYS TamilCreators StoryAutoStory Events All EventsBrand ResidencyFuture of WorkFuture of GovernanceWomen on a missionTechsparks Videos YourStory TV Learn YS EducationLearn By YourStory More CompaniesYS ClubPartner with UsMyStoryYS Research About Us About UsAdvertise with usMeet the teamCareersContact UsPrivacy Policy Stay Updated Didn't find what you were looking for? Search for what you want, categories, tags, keywords, authors, events, anything under YourStory. Stay Connected Download Yourstory App : Copyright @ YourStory 2022 EnglishEnglish