Government’s crypto clarification may lead to fall in speculative trading, experts say
McLaren brakes anomaly highlights rawness of F1 2022 cars New MRI tool to detect progression of cancer developed by researchers India’s March 21 clarification that losses made while trading in one crypto asset cannot be set off against gains from another will likely result in less speculative trading, experts said. “A lot of people trade in certain cryptos that come overnight and die down after a boom happens. That kind of speculative trading will definitely get affected now,” Shashi Mathews, a partner at Induslaw, told Moneycontrol. “You can probably say that this move is to avoid speculative trading because the government is worried about leakage of revenue and also protecting the general public from falling prey to any scams.” According to Mathews, the government is currently ironing out its own position on the legality of cryptocurrency. The Reserve Bank of India has repeatedly expressed its reservations against such assets. Crypto tax provisions have already c...