1% TDS On Crypto Is Not Trading Friendly

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What if someone tells you to pay a 1% transaction fee on every single transaction in trading You will completely reject it because no one wants to pay a 1% fee on every transaction as a trader. It is very difficult to do this. Traders do multiple transactions in a day If they pay 1% on every transaction, then this is gonna be a harmful thing for them That’s why TDS and high tax are killing the crypto.

We will see that budget will be out soon and the Crypto community has an expectation that this time the Crypto tax will be reduced. if this happens, then it will be a big relief for many users of Crypto. But I don’t think this is going to happen, because the current government is not crypto-friendly And they are not seeing the future.

Technology is the future Let’s keep technology aside What about the employment of the youth? Crypto was giving employment to youth And the government should encourage this type of thing Instead of punishing the people. Tax is important, and we all have to pay taxes but this is not a tax it sounds like a penalty. For example, they are taking penalty fees from the users of gambling. Similarly, they are trying to accumulate penalty fees from Crypto users.

Now, the good thing is ETF has been approved And this is impacting positively to crypto and the recent example is Google ads. Google allowed ETF ads on their platform. earlier, Google banned cryptocurrency-related advertisements But now Google is allowing it, then it will surely impact the world positively. So things are changing rapidly And I am seeing the positive side ahead But I do not know when the government will understand this and take a good step regarding this Not a good step, but at least appropriate steps.

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