印度工會預算2023：關鍵從加密生態系統詢問

印度的加密生態系統急切地等待政策信號，這些政策信號可能塑造世界上人口最多的民主中虛擬數字資產（VDA）的未來。

India's crypto journey began in the early 2010s with Bitcoin enthusiasts experimenting with the technology. However, it was not until 2016, amidst demonetisation and a surge in fintech adoption, that crypto trading gained traction. The Reserve Bank of India's (RBI) 2018 circular restricting banks from dealing with crypto exchanges marked a turbulent phase, only to be overturned by the Supreme Court in 2020. Since then, the sector has witnessed rapid growth, attracting over 115 million users in India alone by 2023, making it one of the largest markets globally.

印度的加密之旅始於2010年代初，比特幣愛好者正在嘗試這項技術。但是，直到2016年，在取消貨幣化和金融科技採用的激增中，加密貨幣交易才引起關注。印度儲備銀行（RBI）2018年通告銀行無法處理加密貨幣交易所，標誌著一個動蕩的階段，直到2020年最高法院在2020年被推翻。從那時起，該行業已經快速增長，吸引了印度超過1.15億用戶的用戶到2023年，它是全球最大的市場之一。

Despite this momentum, the regulatory framework remains ambiguous. Introducing a 30% tax on crypto profits and a 1% Tax Deducted at Source (TDS) on all transactions in 2022 dampened market sentiment, resulting in a 90% drop in trading volumes on Indian exchanges. This underscores the urgent need for a balanced approach to regulation.

儘管有這種勢頭，但監管框架仍然模棱兩可。對加密貨幣利潤提出了30％的稅，並在2022年所有交易中扣除了1％的稅收稅（TDS），降低了市場情緒，導致印度交易所交易量下降了90％。這強調了迫切需要平衡的監管方法。

Here are some key asks from the government that could catalyse growth in the Web3 and blockchain sectors, enabling India to stake its claim as a global leader in this burgeoning domain:

以下是政府的一些關鍵要求，可以催化Web3和區塊鏈領域的增長，使印度能夠在這個新興的領域中提出其作為全球領導者的主張：

1. Rationalising TDS: Gateway to inclusion

1。合理化的TD：包容門的門戶

The current 1% TDS on every crypto transaction is akin to a brake on innovation and participation. While its intent—creating an audit trail—is laudable, its impact has been counterproductive, discouraging active traders and reducing market liquidity. A reduction to 0.1% or 0.01% would strike a balance, fostering participation while maintaining traceability. With over $3 trillion worth of crypto transactions globally in 2023, rationalising TDS would allow the Indian government to draw from a larger tax pool, strengthening revenues without stifling innovation.

每項加密交易的當前1％TD類似於創新和參與方面的製動器。儘管它的意圖（創建審計步道）是值得稱讚的，但其影響力適得其反，令人沮喪的交易者並降低了市場流動性。減少到0.1％或0.01％將達到平衡，在維持可追溯性的同時促進參與。在2023年全球全球的加密交易價值超過3萬億美元的情況下，TD合理化將使印度政府能夠從更大的稅收庫中汲取靈感，從而增強收入而不會扼殺創新。

2. Reduction of tax on profits

2。降低利潤稅

India's 30% flat tax on crypto gains, without provisions for deductions or exemptions, places the sector at a disadvantage compared to traditional asset classes like equities. For context, equity short-term capital gains are taxed at 15%, and long-term gains are taxed at 10% beyond Rs 1 lakh. A similar approach for crypto would ensure parity and encourage institutional investments. Countries like Germany and Singapore, with their favourable tax regimes, have successfully attracted blockchain start-ups and capital. India must follow suit if it aspires to be a Web3 powerhouse.

與傳統資產類別（如股票）相比，印度對加密貨幣收益的30％統一稅收，沒有扣除或豁免的規定，使該行業處於劣勢。就上下文而言，股權短期資本收益稅率為15％，長期利益的稅率超過10萬盧比的10％。類似的加密方法將確保平等和鼓勵機構投資。像德國和新加坡這樣的國家及其有利的稅收制度，已成功吸引了區塊鏈初創企業和資本。如果印度渴望成為Web3強大的強國，則必須效仿。

3. Allowing loss offsetting: A fair ask

3。允許損失抵消：公平的問

In its current form, India's crypto tax framework disallows the offsetting of losses against gains—a provision readily available for equities and other asset classes. This puts retail investors in an untenable position, penalising them for market volatility inherent to emerging technologies. Allowing loss offsetting would not only make the system equitable but also inspire investor confidence, crucial for long-term growth.

印度的加密稅收框架以目前的形式取消了抵消損失的抵消，這一規定很容易適用於股票和其他資產類別。這使散戶投資者處於站不住腳的位置，對新興技術固有的市場波動進行了懲罰。允許損失抵消不僅會使系統公平，而且會激發投資者的信心，這對於長期增長至關重要。

4. Incentivising Web3 and blockchain innovations

4。激勵Web3和區塊鏈創新

Globally, governments are embracing blockchain for applications ranging from supply chain management to digital identity systems. The UAE, for example, has launched its Blockchain Strategy 2021 to save $3 billion in operational costs annually. India, with its robust tech ecosystem and youthful workforce, is well-positioned to lead this digital transformation. By offering tax holidays, grants, or R&D credits, the government can attract top-tier Web3 companies to innovate within India.

在全球範圍內，政府正在採用區塊鏈，用於從供應鏈管理到數字身份系統的應用。例如，阿聯酋已經推出了2021年區塊鏈戰略，以節省每年30億美元的運營成本。印度憑藉其強大的技術生態系統和年輕的勞動力，可以很好地領導這一數字化轉型。通過提供稅收假期，贈款或研發學分，政府可以吸引頂級Web3公司在印度境內進行創新。

5. Clarity and consistency in regulation

5。監管的清晰度和一致性

The crypto ecosystem thrives on clarity. Ambiguity, by contrast, deters innovation and investment. Clear guidelines outlining permissible activities, licensing norms, and a framework for Initial Coin Offerings (ICOs) could pave the way for more transparent operations. Countries like Japan and Switzerland have demonstrated how clear regulations can coexist with robust investor protection. A well-regulated market is India's best bet to counter risks like money laundering without undermining innovation.

加密生態系統在清晰度上蓬勃發展。相比之下，歧義阻止了創新和投資。明確的指南，概述了允許的活動，許可規範以及初始硬幣產品（ICO）的框架（ICO）可能為更透明的操作鋪平道路。日本和瑞士等國家已經證明了法規如何與強大的投資者保護共存。一個良好的市場是印度應對洗錢等風險而不會破壞創新的最佳選擇。

The benefits of a crypto-friendly budget extend beyond the ecosystem itself. Blockchain-enabled systems can reduce inefficiencies in governance, streamline public services, and secure financial transactions. As per a World Economic Forum report, blockchain could add $1.76 trillion to global GDP by 2030. India's share of this economic opportunity could be immense, provided the right policies are in place.

對加密友好的預算的好處範圍超出了生態系統本身。支持區塊鏈的系統可以減少治理，簡化公共服務和安全財務交易的效率低下。根據世界經濟論壇的報告，區塊鏈到2030年可能會向全球GDP增加1.7.6萬億美元。只要製定正確的政策，印度在這一經濟機會中的份額可能是巨大的。

Allusions to the past: Lessons from IT and Fintech

對過去的寓言：從中的教訓和金融科技

India's IT revolution in the 1990s and its fintech boom in the 2010s offer valuable lessons. Strategic policy support—ranging from tax incentives to infrastructure development—turned these sectors into global success stories. Crypto, often referred to as the "Internet of Value," could be the next chapter in India's tech narrative, but only if nurtured appropriately.

印度在1990年代的IT革命及其在2010年代的金融科技繁榮提供了寶貴的課程。戰略政策支持（從稅收優惠到基礎設施發展）將這些部門轉變為全球成功案例。加密，通常稱為“價值互聯網”，可能是印度技術敘事的下一章，但只有在適當的情況下進行培養。

A call to action

行動呼籲

As the Union Finance Minister prepares to unveil the Union Budget, the crypto community hopes for a pragmatic approach that balances innovation with oversight. Rationalising taxes, offering loss offsetting, and promoting blockchain

當聯盟財政部長準備揭露聯盟預算時，加密貨幣社區希望採取一種實用的方法，使創新與監督平衡。合理化稅收，提供損失抵消和促進區塊鏈