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Grayscale Crypto products enter India
June 09, 2022
Investing through this route comes under capital gains taxation similar to investing in US equities and is not subject to 30% tax on crypto gains and 1% tax deducted at source (TDS) on each transaction as introduced in Budget 2022, according to Vested.
Regulations around crypto assets are unclear in India, but the Grayscale products, which are preferred by global institutional investors, open up a new investment avenue for Indian crypto investors who were grappling with stringent taxation norms. US-based Grayscale Investments, LLC, is the world’s largest digital currency asset manager with more than $40 billion assets under management (AUM) as of April 2022. Grayscale securities are traded in the over-the-counter markets, where trading is done between two parties without the supervision of an exchange.
“The taxes on crypto assets have made investment in crypto less appealing for Indians. Through Grayscale, investors can get exposure to crypto by investing in a stock and at the same time not be subjected to high taxation,” said Viram Shah, co-founder and chief executive officer, of Vested Finance.
Important Links:
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