Where are Indian Web 3.0 developers relocating?

cnbctv18.com:

Despite being in the pipeline for more than two years, India has not been able to come up with legislation for cryptocurrency so far. The Centre has levied a 30 percent tax on all income/profit made from cryptocurrency in addition to the 1 percent TDS on all crypto transactions.

All this when more than 10 million Indians have made investments in cryptocurrencies.This lack of clarity on policies concerning cryptocurrencies and blockchain technology is not only expected to reduce crypto investments but is also likely to trigger an exodus of Web 3.0 developers from the country.This "brain drain" is especially concerning as Web 3.0 -- being hailed as the next internet revolution -- could play a crucial role in strengthening India's economy. Underscoring this, a report from the US India Strategic Partnership Forum and Cross Tower stated that Web 3.0 and digital assets could add $1.1 trillion to India’s GDP over the next decade.Also Read:Quit India movement in crypto may accelerateWhile India has not been able to gain the early advantage in the field of Web 3.0, several countries around the world have actually framed (or tweaked) policies to make themselves conducive for the growth of Web 3.0 start-ups.

Consequently, these nations host a large number of Web 3.0 talents from other nations, including India.Here's a rundown of nations/jurisdictions attracting Indian Web 3.0 talent:Dubai: An already favoured destination for cryptocurrency and Web 3.0 companies in the region, Dubai adopted a law to regulate the operations of cryptocurrencies and digital assets like non-fungible tokens (NFTs) earlier this month. In December, it was announced that the Dubai World Trade Centre would be made a crypto zone from where all companies