Name: These Indian crypto & web3 companies have left India! Will more follow? -
Uploaded: 2023-06-21T15:43:28+05:30
Duration: 9 min 4 s

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            <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>After the 30% flat tax was imposed on capital gains on <a href="https://www.web3cafe.in/cryptocurrency" target = "_blank">crypto</a> in 2021, many companies working in the crypto and <a href="https://www.web3cafe.in/web3" target = "_blank">web3</a> space saw a decline in their revenue and lost a considerable userbase. Things were so dire, that many decided to shift their base out of India as they could not get any clarity from the Indian government on their future. These companies have set up base in the UAE as they have been able to get regulatory clarity around crypto. We talked to these companies and a crypto legal expert on what could be the implications if tax laws continue to be this stringent in India.</p>
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cryptocurrency

Crypto Shankar


            <div class="text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>After the 30% flat tax was imposed on capital gains on <a href="https://www.web3cafe.in/cryptocurrency">crypto</a> in 2021, many companies working in the crypto and <a href="https://www.web3cafe.in/web3">web3</a> space saw a decline in their revenue and lost a considerable userbase. Things were so dire, that many decided to shift their base out of India as they could not get any clarity from the Indian government on their future. These companies have set up base in the UAE as they have been able to get regulatory clarity around crypto. We talked to these companies and a crypto legal expert on what could be the implications if tax laws continue to be this stringent in India.</p>
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After the 30% flat tax was imposed on capital gains on crypto in 2021, many companies working in the crypto and web3 space saw a decline in their revenue and lost a considerable userbase. Things were so dire, that many decided to shift their base out of India as they could not get any clarity from the Indian government on their future. These companies have set up base in the UAE as they have been able to get regulatory clarity around crypto. We talked to these companies and a crypto legal expert on what could be the implications if tax laws continue to be this stringent in India.

These Indian crypto & web3 companies have left India! Will more follow?

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