India's ITD Warns of Cryptocurrency Transaction Risks, Complicating Tax Enforcement
- Tax Risk Warning: During a parliamentary finance committee meeting, India's Income Tax Department (ITD) highlighted that the anonymity and cross-border nature of cryptocurrency transactions make tax tracking virtually impossible, significantly complicating compliance efforts.
- Current Tax Policy: India imposes a flat 30% tax on all profits from crypto assets, along with a 1% tax deducted at source on all transfers, yet the government's overall stance on cryptocurrency remains cautious despite allowing trading under this heavy tax regime.
- Regulatory Challenges: The ITD emphasized that the use of offshore exchanges and decentralized finance tools complicates the identification of taxable income, creating obstacles for tax officials in assessing and reconstructing transaction chains.
- Industry Development Dynamics: While India's crypto ecosystem is rapidly evolving, with the FIU approving 49 crypto exchanges in fiscal year 2024-2025, the current tax framework fails to recognize losses on crypto transactions, leading to friction rather than fairness for market participants.
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Technical Analysis for DEFI
Technical Sentiment Analysis for DeFi (DEFI) As of , DeFi (DEFI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DEFI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, DEFI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
DeFi (DEFI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000204 | 0.000249 | 0.000293 | 0.000338 | 0.000382 | 0.000427 | 0.000471 |
| Fibonacci | 0.000249 | 0.000283 | 0.000304 | 0.000338 | 0.000372 | 0.000393 | 0.000427 |
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