Crypto community high on hopes after positive signals from India, Russia govts

economictimes.indiatimes.com:

crypto, players in India and across the globe are high on hopes over the new-age asset class. They are expecting that two major nations — India and Russia — have stepped ahead for the legitimisation of the crypto assets, and more major economies may join the forces soon. However, India has made it clear that the legitimate or illegitimate are separate questions and the government is simply taxing the gains from the crypto transactions, which is its sovereign right.

Did you Know?

Sunny Leone took the lead among Indian actors to secure her digital assets when she broke the news about her association with NFT, two months back. This made her the first Indian actress to mint NFTs

On the other hand, the Putin government is eyeing crypto regulations, bucking the recommendation from its central bank to ban the mining and trading of the private digital tokens. Crypto industry at large is positive on the announcement and believes that the governments across the world are stepping ahead to take a big awaited call in the digital assets. Anndy Lian, Chairman, BigONE Exchange said that a country like Russia embracing crypto is positive news for the whole world. More retail investors in the communities are starting to feel comfortable and bullish, especially on memecoins. «With India and Russia taking their stand on crypto, many other countries may take reference from them and follow in their footsteps,'' he added. Sathvik Vishwanath, Co-Founder and CEO, of Unocoin said that it will be a matter of time before more and more countries start looking at the crypto industry in a positive way. The ones who had shied away from cryptos in the past are changing their perspectives and Russia is one of them, he added.