82 % of those surveyed in the planning of investing in crypto as soon as the government creates regulatory clarity - featured

A current survey by Deloitte shows that 82 % of Indians planning to invest in cryptocurrency if the government creates more clarity about the regulation of crypto-assets. In addition, 77.4 % of those surveyed want cryptocurrencies to be treated such as securities.

Indian crypto survey: 82 % plan to invest in crypto as soon as it is regulated

The professional service company Deloitte and the Times of India recently carried out a survey on cryptocurrency investments. The results were published on Sunday.

1,800 respondents stated that 55.2 % stated that they have invested in cryptocurrencies and that they will continue to do so. Another 26.8 % stated that they did not invest in crypto but are willing to invest as soon as the government creates more clarity about regulating cryptocurrency in India. Meanwhile, 10.3 % stated that he had invested in crypto would avoid investing in this asset class in the future. The remaining 7.8 % said they were against an investment in crypto. The report also notes that around 20 million people in India have invested in cryptocurrency.

When asked about their understanding of cryptocurrency, 48.5 % of those surveyed stated that they would like to learn more about crypto investments, 39 % indicated that they understand crypto-assets really well, and 12.5 % stated that they were not familiar with the concept.

In addition, the survey showed that 77.4 % of those surveyed want cryptocurrency to be treated as securities. However, at least 58 % of the investors surveyed were not aware of the tax effects of an investment in cryptocurrencies.

In terms of cryptor regulation, more than 62 % would like the government to publish clear guidelines, while 30 % want to take measures to make the asset class more popular. On the other hand, 10 %want crypto-assets to be banned.

Saraswathi Kasturirangan, partner at Deloitte, commented:

Investments in cryptocurrencies have experienced strong growth in India; However, the crypto industry has long been waiting for the adoption of the draft law for cryptocurrencies, in which compliance with legal regulations in connection with cryptocurrencies and taxation according to direct and indirect tax laws are described in detail.

The Deloitte partner found that "there are currently no specific provisions for taxing profits from cryptocurrency in India and therefore there are open questions," said the Deloitte partner: "The government should introduce specific provisions with detailed rules for taxing cryptocurrencies that open the above questions."

The Indian government is still working on a cryptocurrency law that was intended for the winter meeting of the parliament but was not taken up. The government is supposedly revision of the invoice .

At the beginning of this month, the Indian Prime Minister Narendra Modi Global cooperation said: " have a similar way of thinking. " In the meantime, the Indian Central Bank said that cryptocurrency is susceptible to Fraud . The Reserve Bank of India (RBI) has a Complete prohibition on crypto partial ban will not work.

What do you think of this survey? Let us know in the comment area below.

Kevin Helms

As a student of Austrian economics, Kevin Bitcoin discovered in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

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