Tale of two crypto routs, and why no one saw them coming
Crypto ads are back in full force. Four years ago, India imposed a tax regime that looked like a ban, but over time, punters have come to accept the 1% tax deducted at source (TDS) as routine. My screens are now full of ads for the so-called crypto exchanges again, and I’m sure yours are too. More than 50 crypto platforms (Virtual Digital Asset Service Providers, or VDASPs) have registered, and the government’s own estimates are that almost 40 million people have invested in crypto.
