Let De-Fi Technologies Like Crypto-Currencies And Crypto-Tokens Stay Decentralized.

Let De-Fi Technologies Like Crypto-Currencies And Crypto-Tokens Stay Decentralized.

Started
1 February 2022
Petition to
Budget Division Department of Economic Affairs of the Ministry of Finance and
Signatures: 6Next Goal: 10
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Why this petition matters

Started by Sushant Shah

The Budget Division Department of Economic Affairs of the Ministry Of Finance Of The Government Of India, Recently Announced 30% Tax + 1% TDS On Crypto-Token(Including Currencies) Transactions During The Announcement Of The Union Budget 2022.

The Problem With This Is That Crypto-Tokens, Built On The Blockchain Public Ledger Technology, Are By Their Very Nature Supposed To Be Decentralized, And Privacy-Oriented. The Tax Imposition Will Need Tracking Of Users On The Blockchain, Defeating The USP Of Crypto-Tokens, Privacy. Moreover This Will Demote The Usage Of Crypto-Tokens As The Gas Fees/Transaction Fees Are Already Growing Higher In The Interests Of The Miners Felicitating The Transactions. 

Once We Have Enough Signatures, We Will Be Filing A PIL, Using This Petition As A Proof Of Public Interests. 

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Signatures: 6Next Goal: 10
Support now