🚨 Crypto News: India Blockchain Week 2024 lit up Bengaluru with global crypto minds flocking to the country’s tech hub on December 4th-5th. Organized by venture capital firm Hashed Emergent, the event tackled some hard-hitting topics, from India’s potential as a Web3 leader to the pressing need for tailored regulations.
VC interest in India’s blockchain ecosystem is brewing again, but regulatory clarity remains the missing puzzle piece. Industry voices highlighted the hurdles posed by steep taxes—a 30% tax on crypto gains and 1% TDS on every transaction—as well as outdated policies that make innovation a headache. Developers and exchanges are calling for a friendlier ecosystem to unleash the true potential of Web3 in India.
The conference also saw conversations around DeFi, blockchain advancements, and the future of decentralized finance. Meanwhile, security concerns took center stage after the WazirX hack, which left many Indian traders lamenting their missed chance as Bitcoin crushed past $100K during the event. With funds frozen, some users felt they not only lost money but also their hard-earned moment in the rally.
India’s Web3 future hinges on finding the right balance between innovation, security, and regulation. Will 2024 be the year India sets the stage for a crypto revolution?
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