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Crypto hanuman, a leading crypto community in India recently hosted the 5th episode of \u201cThe Hanuman Show\u201d on Wednesday featuring Avinash, the CEO and the Co-Founder of Pi42.Exchange. The hour long interactive discussion revolved around one of the most intriguing topics – Crypto Futures and Taxes.\u00a0 If you\u2019ve missed the session, don\u2019t worry! We\u2019ve got you covered!\u00a0<\/p>\n\n\n\n
Taxation on Crypto Futures:<\/strong><\/p>\n\n\n\n The highlight of the session was a really valid question asked by Crypto Hanuman, and that was \u201chow are these crypto futures trades taxed?\u201d Broadly explaining the idea, Avinash highlighted how futures are a tax efficient trading solution, because you are not holding an asset but a contract that derives its value from an underlying asset. Here, the tax is only applicable at the time of conversion that too on profits. But, with Crypto-INR futures, your interaction with crypto is eliminated, which means no need for conversion. So, if you\u2019re wondering where to trade with INR-pairs, Pi42 is just the place for you!<\/p>\n\n\n\n Banking Challenges:<\/strong><\/p>\n\n\n\n Crypto Hanuman also highlighted how Indian crypto institutions have been facing prolonged challenges with the banking system and fund transfers, which indeed is a pressing solution, but with the industry\u2019s consistent growth we have seen financial institutions also easing up on these procedures. <\/p>\n\n\n\n Insights on Budget 2024:<\/strong><\/p>\n\n\n\n Avinash shared insights on how Budget 2024 could impact the crypto industry, providing valuable perspectives for enthusiasts and investors. Like every other crypto enthusiast, Avinash also expressed his wish for a fair tax regime, reducing the TDS and creating an off-set provision. While these are just wishes, it\u2019s high time for the government to understand the need for these things.<\/p>\n\n\n\n Futures Vs. Spot Trading<\/strong><\/p>\n\n\n\n The AMA also highlighted a comparative analysis of crypto futures vs. spot trading, again futures is a much better option when it comes to trading, because of enhanced liquidity, leverages, off-set of losses etc. And, the unique advantages that set Pi42 apart with Crypto-INR pairs didn\u2019t go unnoticed here, a lot of people inquired about the app launch and other related announcements.<\/p>\n\n\n\n Trust in the Community:<\/strong><\/p>\n\n\n\n A crucial aspect discussed was the importance of trust within the crypto community. Avinash emphasised the platform’s commitment to transparency and reliability, contributing to its\u00a0positive reputation.<\/p>\n\n\n\n Participants were delighted to discover our new and burgeoning platform, the enthusiasm was evident as few of the participants tweeted about the session praising Pi42 endeavours in creating a rock solid trading solution for the users.<\/p>\n\n\n\n Pi42 is dedicated to creating a seamless and tax-efficient system for the industry, where traders can trade with pride and confidence!\u00a0<\/p>\n\n\n\n To learn more, watch the session here:-\u00a0<\/p>\n\n\n\n