According to recent survey findings, 79 percent of Indians want more clarification on cryptocurrencies and non-fungible token (NFT) rules in the budget session of Parliament, which begins on January 31.
According to the survey, which was done by tax and consultancy company Grant Thornton Bharat, 61 percent of Indians prefer a regulatory sandbox approach for decentralised finance (DeFi) technologies. However, 36% of Indians believe that government activities on DeFi should take precedence over increasing crypto knowledge.
Earlier this month, IndiaTech, an industry association representing online entrepreneurs, asked the finance minister to clarify crypto taxation in the 2018 budget. In India, a crypto law is unlikely to be submitted during the budget session since the government wants to create an agreement with industry players before introducing legislation.
At the start of the next month, Indian finance minister will announce the country’s budget on what is often regarded as the most significant financial day of the year for the world’s largest democracy.
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