A recent survey by Mudrex, one of India's largest crypto investment platforms, revealed interesting insights regarding Indian perspectives on regulation, taxation, and the future of digital assets.
Crypto Regulation and Survey Respondent Support
In the survey, which gathered opinions from over 9,000 individuals across various regions and social strata, 93% of participants expressed support for crypto regulation.
56% of respondents advocated for a comprehensive regulatory framework to protect investors, 24% favored lighter oversight to foster innovation, and 13% preferred regulation limited to taxation. Half of those surveyed also backed the idea of a separate regulator for cryptocurrencies.
Taxation as a Key Issue
Taxation emerged as the most significant barrier for investors. About 84% of participants described the current tax system as unfair compared to other assets. Two-thirds pointed to the 30% tax on gains as the main deterrent. Other concerns included the inability to offset losses (12%), fraud worries (12%), 1% TDS (7%), and exchange fees (3%).
Nearly 90% of investors stated they would invest more in crypto if government policies were clearer.
Long-Term Outlook and Learning Sources
Most respondents view cryptocurrency as a tool for long-term wealth creation. About 64% expressed this perspective, while 14% are driven by curiosity, 12% seek short-term profits, and 6% treat it as a hedge against inflation.
For many, YouTube is the primary source of crypto information, relied on by 43%. News outlets follow at 19%, friends and family at 15%, and platforms like X at 14%. Furthermore, 77% of participants expressed a desire for blockchain and crypto education to be included in college curricula in India.
The Mudrex survey reflects essential aspects of cryptocurrency perception in India. Investors are demanding clear rules and fair taxation, which could foster growth in this sector in the country.
