Welcome to our weekly digest, where we bring you the latest market trends, community meetups, and in-depth discussions on pressing topics. This week, join us as we explore the popularity of the Matic-INR pair, recap insightful meetups in Mumbai and Bhubaneswar, and dissect the recent revelations from “Hodl My Coffee” Episode 5, shedding light on the complex landscape of crypto taxation in India.
Market Update: Matic-INR Pair and Trading Volume
In the bustling world of crypto trading on Pi42, one pair stands out as a favourite among enthusiasts – the Matic-INR pair. Its growing popularity is evident, capturing the attention of traders seeking opportunities in the market. With a substantial trading volume of INR 4.5 Crores, it’s clear that this pair has become a focal point for active participation and investment in perpetual futures in crypto.
Mumbai Meetup: Insights and Networking
In the financial hub of Mumbai, traders and crypto enthusiasts recently gathered over cups of coffee to discuss the current market scenario. The meetup provided a platform for attendees to share insights into their trading strategies and preferences, with a particular emphasis on the advantages of Crypto-INR pair futures over their USDT counterparts. Tax optimisation strategies were also in the spotlight, offering attendees valuable knowledge on navigating the intricate world of crypto taxation. Aditya, our city lead, steered the meetup, fostering a sense of community and knowledge-sharing among participants.
Bhubaneswar Gathering: Empowering Students and Professionals
Meanwhile, in Bhubaneswar, students and professionals converged to delve into the fundamentals of crypto trading. The discussion touched upon the unique aspects of crypto trading compared to traditional stock trading, highlighting its tax-friendly nature. Participants were encouraged to explore the benefits of stepping into the dynamic world of crypto, gaining insights that could potentially shape their financial journeys.
Hodl My Coffee – Episode 5: Unpacking Crypto Taxation in India
The latest episode of “Hodl My Coffee” delved deep into the intricate world of crypto taxation in India. The Q&A session tackled pressing questions, such as the impact of the current tax framework, proposed changes in the TDS rate, and the recent PMLA Notification. Advocacy for allowing setoff for losses in crypto transactions, the importance of a clear regulatory framework, and the global implications of crypto taxation were also discussed. The episode painted a comprehensive picture of the challenges and opportunities in the evolving landscape of crypto taxation.
Looking Ahead: Budget 2024 and Policy Realignment
As we look to the future, the anticipation around Budget 2024 and potential policy realignment is palpable. Striking a balance between monitoring crypto transactions and promoting sector growth through taxation is crucial. Aligning tax laws with the risk profile of crypto assets, collaborating with the private sector for informed policy decisions, and ensuring a clear and consistent regulatory framework are all vital components for the sustainable growth of the crypto industry.
In conclusion, our journey through the past week in the crypto realm has been enlightening, with insights from market trends, community meetups, and discussions on the ever-evolving landscape of crypto taxation. Stay tuned for more updates, market insights, and community events as we navigate the exciting and dynamic world of cryptocurrency together!