I am not sure why @pakhitheboss created a topic related to G20 on the local board. I believe almost half of the forum is either controlled by Russian or Ukrainian here. Not ot forget the EU countries. This topic would have gain more response if it would have been on the main boards like Bitcoin discussion.
What I feel is that SEC would be the one to come up with an answer to crypto regulation and every other country in the G20 would adopt or improvize on it. If India would have been the game changer in regulating crypto then they would have created a different tax slab for investor, holders & earners. They came up with a shitty idea of charging everyone a huge tax as if everyone is a gambler.
It is just the beginning for the cryptocurrency community. I reckon more harsh law are in the pipeline and so do the illegal activities.
Topic: Did anyone viewed the Youtube video on G20: Crytpo Ban by Kashif Raza? (Read 93 times)
March 08, 2023, 12:15:38 PM
March 08, 2023, 12:24:30 AM
It's great to see that India has requested a panel discussion on the policy roadmap for the crypto assets. Honestly, it reduces the chance of an outright ban. It's just that puppet RBI governor has shared his opinion for ban!
Thanks to Kashif to explaining the entire matter to us. He was a great help under the name of Crypto Kanoon earlier and he is continuing on the same path.
A comprehensive policy is indeed the need of the hour. Having no policy is disastrous and can be proven fatal against the crypto community of India.
Thanks to Kashif to explaining the entire matter to us. He was a great help under the name of Crypto Kanoon earlier and he is continuing on the same path.
A comprehensive policy is indeed the need of the hour. Having no policy is disastrous and can be proven fatal against the crypto community of India.
March 05, 2023, 11:09:05 AM
Even if they have a separate wing of crypto experts I don't think it will still be enough to ban cryptocurrencies as you said because of its pseudonymous nature.
Besides that, what kind of expensive software are we talking about here which can be utilised to enforce a ban on cryptocurrencies?
Is there any kind of technique to enforce a ban on all cryptocurrencies? I can hardly think of any.
I mean anything can be broken which is why if at all there will be any such software then there will be techniques which can be utilised to bypass this ban.
Besides that, what kind of expensive software are we talking about here which can be utilised to enforce a ban on cryptocurrencies?
Is there any kind of technique to enforce a ban on all cryptocurrencies? I can hardly think of any.
I mean anything can be broken which is why if at all there will be any such software then there will be techniques which can be utilised to bypass this ban.
Crypto ban cannot be placed but regulating it is a big pain. If regulations were possible then most tier1 countries would have already done that. The problem for the government is what would generate them taxable income and punish scammers. I do not see anything coming up unless SEC comes up with a resolution. SEC is also confused as to how it would do it but they will always give freeway for scammers involved in FTX. What they are doing is just creating a hype to non legalise crypto.
March 05, 2023, 08:40:49 AM
If not then you should. It is a nearly 19 minutes video that primarily discusses about the recent G20 meeting on cryptocurrency regulation and policy held in Banglore. It was chaired by our FM and the outcome of this meeting clearly stated Crypto cannot be banned in any of these G20 countries but a policy needs to be created around it. By October 2023 we would be hearing a lot about those policies.
Link to the Video
Forums like G20 are ideally the only last hope of governments to regulate Cryptocurrencies. If you see no one country can by it's own ban bitcoin because even if they ban it the enforcement would still be impossible because of the pseudunonymous nature, you will either have to spend too much money to create a separate wing of crypto experts to enforce this ban or you'll have to develop hefty and expensive software for this purpose both the things won't be able to justify the cost to benefit ratio of the proposal.Link to the Video
Even if they have a separate wing of crypto experts I don't think it will still be enough to ban cryptocurrencies as you said because of its pseudonymous nature.
Besides that, what kind of expensive software are we talking about here which can be utilised to enforce a ban on cryptocurrencies?
Is there any kind of technique to enforce a ban on all cryptocurrencies? I can hardly think of any.
I mean anything can be broken which is why if at all there will be any such software then there will be techniques which can be utilised to bypass this ban.
March 03, 2023, 12:47:32 PM
If not then you should. It is a nearly 19 minutes video that primarily discusses about the recent G20 meeting on cryptocurrency regulation and policy held in Banglore. It was chaired by our FM and the outcome of this meeting clearly stated Crypto cannot be banned in any of these G20 countries but a policy needs to be created around it. By October 2023 we would be hearing a lot about those policies.
Link to the Video
Forums like G20 are ideally the only last hope of governments to regulate Cryptocurrencies. If you see no one country can by it's own ban bitcoin because even if they ban it the enforcement would still be impossible because of the pseudunonymous nature, you will either have to spend too much money to create a separate wing of crypto experts to enforce this ban or you'll have to develop hefty and expensive software for this purpose both the things won't be able to justify the cost to benefit ratio of the proposal. Link to the Video
March 02, 2023, 07:07:50 AM
But we surely will be seeing crypto trading being accepted and taxation on income from crypto which is already present in India.
May be there will be a consensus on how much taxation would be implemented on it and few policies that G20 will bring out together.
All in all things will be baselined for cryptocurrencies which is a good sign since a vast majority of people are still concerned over its legalization.
May be there will be a consensus on how much taxation would be implemented on it and few policies that G20 will bring out together.
All in all things will be baselined for cryptocurrencies which is a good sign since a vast majority of people are still concerned over its legalization.
What I am more excited about is a G20 framework on tax. India has already implemented a heft tax policy but many G20 member countries are not charging such hefty taxes on crypto earnings. By October this year, we should be able to hear some positive news on this topic. EU has been pretty much progressive in allowing crypto as an alternate pay mode in local stores and e-commerce websites. If India allows the same then it would be a convenient mode for making purchases both online & offline for the Indian crypto community.
India won't allow crypto to be used as an alternate source of payment.
Also, the video in your post says that the G20 countries have come to a mutual understanding that crypto shouldn't be used as a form of payment and hence it is not a legal tender.
So I'm not sure how EU will plan on working that out if the G20 consensus derives policies to eliminate crypto as a payment method.
For now we do know that a consensus is formed and policies will be derived for crypto to be used for trading and taxation will be applicable on it.
Since India already has it's taxation policy for crypto it's a matter of time before we come to know that the G20 countries will have the same taxation policy or they will have a flexible policy wherein different countries tax crypto income differently.
February 27, 2023, 10:36:28 PM
But we surely will be seeing crypto trading being accepted and taxation on income from crypto which is already present in India.
May be there will be a consensus on how much taxation would be implemented on it and few policies that G20 will bring out together.
All in all things will be baselined for cryptocurrencies which is a good sign since a vast majority of people are still concerned over its legalization.
May be there will be a consensus on how much taxation would be implemented on it and few policies that G20 will bring out together.
All in all things will be baselined for cryptocurrencies which is a good sign since a vast majority of people are still concerned over its legalization.
What I am more excited about is a G20 framework on tax. India has already implemented a heft tax policy but many G20 member countries are not charging such hefty taxes on crypto earnings. By October this year, we should be able to hear some positive news on this topic. EU has been pretty much progressive in allowing crypto as an alternate pay mode in local stores and e-commerce websites. If India allows the same then it would be a convenient mode for making purchases both online & offline for the Indian crypto community.
February 27, 2023, 07:44:52 AM
Interesting video to watch. I just had a quick view and it seems what he's saying is right.
Few crypto services might be banned concerning people's safety and security their funds but its not feasible to ban crypto upright.
Also, the G20 accepting that crypto cannot be used as a legal tender tells us that we wont be seeing it used for payments at least in the next 5 years according to me.
But we surely will be seeing crypto trading being accepted and taxation on income from crypto which is already present in India.
May be there will be a consensus on how much taxation would be implemented on it and few policies that G20 will bring out together.
All in all things will be baselined for cryptocurrencies which is a good sign since a vast majority of people are still concerned over its legalization.
Few crypto services might be banned concerning people's safety and security their funds but its not feasible to ban crypto upright.
Also, the G20 accepting that crypto cannot be used as a legal tender tells us that we wont be seeing it used for payments at least in the next 5 years according to me.
But we surely will be seeing crypto trading being accepted and taxation on income from crypto which is already present in India.
May be there will be a consensus on how much taxation would be implemented on it and few policies that G20 will bring out together.
All in all things will be baselined for cryptocurrencies which is a good sign since a vast majority of people are still concerned over its legalization.
February 26, 2023, 10:32:09 PM
If not then you should. It is a nearly 19 minutes video that primarily discusses about the recent G20 meeting on cryptocurrency regulation and policy held in Banglore. It was chaired by our FM and the outcome of this meeting clearly stated Crypto cannot be banned in any of these G20 countries but a policy needs to be created around it. By October 2023 we would be hearing a lot about those policies.
Link to the Video
Link to the Video
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