India in the G-20 Leadership
India just got the leadership position in the G-20 group and this could affect the entire crypto sector. The country announced that taxes on crypto activities will raise in 2023, making life harder for Indian crypto companies.
This can be evident from a large outflow of crypto capital from local exchanges to international crypto exchanges. The regulations are expected to be in the middle of the conversations.
Indeed, India looks to push IMF into a more active role regarding regulations that should be implemented in the vertical. The main risk that India want to prevent through regulatory changes is the risk for retail investors.
The main argument behind this policy is that developed markets have more capital controls, that cannot be possible in emerging markets. This brings a security gap, that can be paid from retail customers….