The Indian government regulates and taxes at the peril of their people (at least those people who remain in India), said billionaire Tim Draper on 30% crypto tax imposition
“I have far greater doubts about the long-term viability of the dollar or the rupee,” said Draper on crypto volatility issues
The latest crypto tax imposition by the Indian government has led Draper to rethink his India investment plans
Billionaire and venture capitalist Tim Draper is no longer actively looking to invest in the Indian crypto ecosystem. Speaking about his plans for investing in Indian crypto startups, Draper, during an interaction with Inc42, said, “I will walk cautiously until the Indian government comes to its senses.”Commenting on the taxation issue in India, Tim Draper said, “Regulations smother innovations. High taxes repel investors from a jurisdiction. The Indian government regulates and taxes at the peril of their people (at least those people who remain in India).”“I have far greater doubts about the long-term viability of the dollar or the rupee,” Tim DraperSupporting Musk and Twitter co-founder Jack Dorsey, Draper concluded, “I love Elon and Jack. They both want free speech. They abhor the idea that any platform would be the arbiter of what is acceptable.”
But what made Draper, who was looking to invest in India, change his plans. Was it the latest crypto tax imposed by the government? “Of course,” he said.