印度工会预算2023：关键从加密生态系统询问

印度的加密生态系统急切地等待政策信号，这些政策信号可能塑造世界上人口最多的民主中虚拟数字资产（VDA）的未来。

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.

印度的加密之旅始于2010年代初，比特币爱好者正在尝试这项技术。但是，直到2016年，在取消货币化和金融科技采用的激增中，加密货币交易才引起关注。印度储备银行（RBI）2018年通告银行无法处理加密货币交易所，标志着一个动荡的阶段，直到2020年最高法院在2020年被推翻。从那时起，该行业已经快速增长，吸引了印度超过1.15亿用户的用户到2023年，它是全球最大的市场之一。

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.

尽管有这种势头，但监管框架仍然模棱两可。对加密货币利润提出了30％的税，并在2022年所有交易中扣除了1％的税收税（TDS），降低了市场情绪，导致印度交易所交易量下降了90％。这强调了迫切需要平衡的监管方法。

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:

以下是政府的一些关键要求，可以催化Web3和区块链领域的增长，使印度能够在这个新兴的领域中提出其作为全球领导者的主张：

1. Rationalising TDS: Gateway to inclusion

1。合理化的TD：包容门的门户

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.

每项加密交易的当前1％TD类似于创新和参与方面的制动器。尽管它的意图（创建审计步道）是值得称赞的，但其影响力适得其反，令人沮丧的交易者并降低了市场流动性。减少到0.1％或0.01％将达到平衡，在维持可追溯性的同时促进参与。在2023年全球全球的加密交易价值超过3万亿美元的情况下，TD合理化将使印度政府能够从更大的税收库中汲取灵感，从而增强收入而不会扼杀创新。

2. Reduction of tax on profits

2。降低利润税

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.

与传统资产类别（如股票）相比，印度对加密货币收益的30％统一税收，没有扣除或豁免的规定，使该行业处于劣势。就上下文而言，股权短期资本收益税率为15％，长期利益的税率超过10万卢比的10％。类似的加密方法将确保平等和鼓励机构投资。像德国和新加坡这样的国家及其有利的税收制度，已成功吸引了区块链初创企业和资本。如果印度渴望成为Web3强大的强国，则必须效仿。

3. Allowing loss offsetting: A fair ask

3。允许损失抵消：公平的问

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.

印度的加密税收框架以目前的形式取消了抵消损失的抵消，这一规定很容易适用于股票和其他资产类别。这使散户投资者处于站不住脚的位置，对新兴技术固有的市场波动进行了惩罚。允许损失抵消不仅会使系统公平，而且会激发投资者的信心，这对于长期增长至关重要。

4. Incentivising Web3 and blockchain innovations

4。激励Web3和区块链创新

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.

在全球范围内，政府正在采用区块链，用于从供应链管理到数字身份系统的应用。例如，阿联酋已经推出了2021年区块链战略，以节省每年30亿美元的运营成本。印度凭借其强大的技术生态系统和年轻的劳动力，可以很好地领导这一数字化转型。通过提供税收假期，赠款或研发学分，政府可以吸引顶级Web3公司在印度境内进行创新。

5. Clarity and consistency in regulation

5。监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.

加密生态系统在清晰度上蓬勃发展。相比之下，歧义阻止了创新和投资。明确的指南，概述了允许的活动，许可规范以及初始硬币产品（ICO）的框架（ICO）可能为更透明的操作铺平道路。日本和瑞士等国家已经证明了法规如何与强大的投资者保护共存。一个良好的市场是印度应对洗钱等风险而不会破坏创新的最佳选择。

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.

对加密友好的预算的好处范围超出了生态系统本身。支持区块链的系统可以减少治理，简化公共服务和安全财务交易的效率低下。根据世界经济论坛的报告，区块链到2030年可能会向全球GDP增加1.7.6万亿美元。只要制定正确的政策，印度在这一经济机会中的份额可能是巨大的。

Allusions to the past: Lessons from IT and Fintech

对过去的寓言：从中的教训和金融科技

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年代的金融科技繁荣提供了宝贵的课程。战略政策支持（从税收优惠到基础设施发展）将这些部门转变为全球成功案例。加密，通常称为“价值互联网”，可能是印度技术叙事的下一章，但只有在适当的情况下进行培养。

A call to action

行动呼吁

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

当联盟财政部长准备揭露联盟预算时，加密货币社区希望采取一种实用的方法，使创新与监督平衡。合理化税收，提供损失抵消和促进区块链