Interview: 2023 Year-End Wrap With CoinDCX Co-Founder Neeraj Khandelwal
As we conclude 2023, a year marked by regulatory challenges and unprecedented growth, the cryptocurrency industry stands at the crossroads of uncertainty and promise. In an exclusive interview with India’s largest crypto exchange and the first crypto unicorn, CoinDCX’s Co-founder Neeraj Khandelwal shares insights into the highs and lows of 2023 and paints an optimistic picture of what awaits the crypto community in 2024.
The past year has been a paradoxical journey for the cryptocurrency industry, as Khandelwal reflects on the dual challenges faced from regulators while experiencing rapid growth. “On the one hand, we faced challenges from regulators globally and in India. On the other hand, the industry saw massive growth, which can be seen even in prices,” says Khandelwal.
“There have been very positive regulatory developments across the globe in 2023. Regions like the UAE have matured in terms of how they perceive regulations and implement them. Regulators are gaining a deeper understanding of the industry, and as a result, they are developing more finely-tuned guidelines.”
Talking about the crypto regulations in India, CoinDCX co-founder said that regulations will definitely come in India. It’s not a question of if; it’s a question of when, he said.
“At the grassroots level, officials are increasingly showing keen interest in the technology and the crypto space. They are gaining a deeper understanding of how things work in this domain, and this growing enthusiasm is a very positive sign.
Currently, India employs a 1% TDS (Tax deductible at source) on all crypto transactions, which has caused local crypto traders to ditch Indian exchanges in place for foreign exchanges to save on taxes. Calling on the government to
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