Cryptocurrency Q&A
Is Ethereum code legal?
Is Ethereum code legal?
GeishaElegance
Sat Jun 29 2024
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6 answers
1305
In the realm of cryptocurrency and finance, the legality of Ethereum's code often raises questions. Could you elaborate on the legal standing of Ethereum's underlying codebase? Is it subject to the same regulatory scrutiny as traditional financial institutions? Or does the decentralized nature of Ethereum's blockchain technology render its code exempt from traditional legal frameworks? Understanding the legal implications of Ethereum's code is crucial for both investors and developers alike, as it shapes the landscape of this rapidly evolving digital ecosystem.
6 answers
CryptoKnight
Mon Jul 01 2024
The absence of a dedicated legal framework for digital currencies in India creates a regulatory grey area for investors and traders.
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Giulia
Mon Jul 01 2024
India currently lacks legislative frameworks specifically governing digital currencies such as Ethereum.
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Dario
Mon Jul 01 2024
In the realm of cryptocurrency regulation, the Indian government's primary action has been the imposition of a 30% tax on profits earned through crypto transactions.
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CryptoMercenary
Mon Jul 01 2024
This tax is applied in addition to the existing 1% TDS (Tax Deducted at Source) levied on Virtual Digital Assets (VDAs).
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Lucia
Sun Jun 30 2024
However, the government's imposition of taxes on crypto transactions indicates a certain level of recognition and acceptance of the industry.
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