ADIL 🦂 丰 ₿ ⚡ on Nostr: India’s crypto taxation policies, especially the "no loss setoff" rule, have little ...
India’s crypto taxation policies, especially the "no loss setoff" rule, have little to do with protecting investors and everything to do with the government's insatiable greed for control and revenue. If they genuinely cared about investor safety, they would regulate crypto sensibly instead of crippling it with absurd taxes.
The real issue is that crypto threatens the government's ability to milk every rupee indefinitely.
When people lose money in crypto, it vanishes from their endless tax cycle instead of being funneled through businesses, where they can slap GST, customs duties, and other levies on it. Worse still, if individuals choose to store wealth in Bitcoin long term like Michael Saylor, they escape the government's grasp entirely.
By imposing crushing taxes, the government is deliberately discouraging crypto to ensure that money stays trapped within traditional financial systems, banks, real estate, and consumer markets where they can continue siphoning off their share through relentless taxation. This isn't about protecting citizens, it's about making sure they can exploit every last rupee forever.
The real issue is that crypto threatens the government's ability to milk every rupee indefinitely.
When people lose money in crypto, it vanishes from their endless tax cycle instead of being funneled through businesses, where they can slap GST, customs duties, and other levies on it. Worse still, if individuals choose to store wealth in Bitcoin long term like Michael Saylor, they escape the government's grasp entirely.
By imposing crushing taxes, the government is deliberately discouraging crypto to ensure that money stays trapped within traditional financial systems, banks, real estate, and consumer markets where they can continue siphoning off their share through relentless taxation. This isn't about protecting citizens, it's about making sure they can exploit every last rupee forever.