Die Paying Tax On Crypto!

In recent two years of the pandemic, Crypto has been expanded a lot. Lots of people have entered in recent two years. Many Countries have even adopted crypto-like Australia, South Africa, Canada U.S. etc. and made them legal for transactions like in El Salvador.

But in many countries, it's not welcomed much like China,  Egypt, Iraq etc and even banned but it's their loss.

But there are some countries where it's been regulated not that what you are thinking. I'm talking about taxation as many countries like having accepted crypto and their trading for some taxation cost. And you would be shocked to know about the views of Indian experts here and the government officials talking about it.
The Indian Government made this announcement that they are welcoming crypto but will evoke a 30% tax on profits.
Lol, it's close to banning. By hearing 30% half of the people will lose their interest.

I don't want to talk bad about the government just sharing my views over their decision.
As 30% tax is supposed to be applied on betting or speculation sectors. And they are planning to apply it in Crypto.
After the announcement only, a petition was signed against it. More than 1lakh people signed it in a single hour that they reduce it to 10% or slot-like a rule like in StockMarket.
But till now there's been no update that they will change their announcement.

There is a big flaw in it and the person who decided it hasn't done even 10 minutes of study over crypto that I can guarantee.
• As section 2(47A) of the Finance Bill seeks to define 'virtual digital asset' VDA as any information, code, number or token generated through cryptographic means or otherwise. The definition is close enough to cover cryptocurrencies.

The problem with developing countries like India is that we neither try new things nor let the others in the country try. Neither does anyone try to give any solution to ' Inflation '  and ' Unemployment '.

The most fitting weapon which I see against Inflation is crypto-only. And that BCH most as it's still not that highly-priced and the transaction fees are very low for the name BitcoinCash.

• India even got a donation in pandemic by Vitalik co-founder of Ethereum consisting of 500ETH and 500Shiba Inu Trillion token and that in bull run times. Still, main experts and officials don't recognise crypto as a legal and helpful asset here. Such awesome experts we have!
By applying heavy tax and bans, countries aren't banning cryptocurrency, they are ultimately banning the blockchain, which is the next big thing. From Blockchain only we have now got lots of awesome futuristic things like Crypto, NFTs, Metaverse and there's a lot. And still, it had endless application.

So this is about my country. What's the situation of Cryptocurrencies in your place?
Let me know in the comments.

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