"Crypto is gambling!" This Rajya Sabha MP thinks 30% tax won't affect crypto users. So, he wants them to pay more.
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00:00What is crypto?
00:02Crypto is gambling
00:04It is a type of lottery
00:06It is a type of horse racing
00:08It is a type of gambling
00:30What is crypto?
00:38What is crypto?
00:40It is neither a commodity
00:42It is neither an asset
00:44It is not a good, it is not a service
00:46So what is it?
00:48It has no intrinsic value
00:50Behind it
00:52There is no power of any company
00:54And Mr. Sati
00:56I would like to request Mr. Nirmala
00:58The 30% tax that you have imposed
01:00Think about it
01:02In the coming days
01:04Can this tax be increased?
01:06Mr. Sati
01:08Crypto is gambling
01:10It is a type of lottery
01:12It is a type of horse racing
01:14It is a type of gambling
01:16You invest in shares
01:18You know that Tata is behind it
01:20But who is behind crypto?
01:22Mr. Sati
01:24That is why Japan has imposed
01:2630% tax
01:28Germany, France, Austria
01:30Up to 45%
01:32U.S. has imposed 37%
01:34I would like to request Mr. Nirmala
01:36Think about it
01:38In the coming days
01:40Can we impose more than 30% tax on crypto?
01:42Can we impose more than 30% tax on crypto?
01:44Mr. Sati
01:46The people who earn in crypto
01:48They will not be affected by 30%
01:50Because crypto's CAGR
01:52Compounded Average Growth Rate
01:54Bitcoin's CAGR
01:56Is 115%
01:58Ethereum's CAGR
02:00Is 30%
02:02Binance's CAGR
02:04Is 51%
02:06Investors are attracted
02:08By extraordinary profits
02:10Mr. Sati
02:12Mr. Swamy Iyer
02:14Wrote in an article
02:16Cryptocurrency has no underlying value
02:18Not even a tulip
02:20Of 17th century
02:2217th century speculative bubble
02:24In 17th century
02:26In a country in Europe
02:28The tulip flower
02:30Everyone is buying tulips
02:32Its price has gone 200 times
02:34And one day suddenly
02:36When the bubble burst
02:38Thousands of people went bankrupt
02:40The price of tulip will be at least 1 rupee
02:42But how much is the price of crypto
02:44No one knows
02:46And this IT law
02:48Is 20 years old
02:50The IT Act
02:52Should be drafted
02:54So that it can face
02:56The challenges of today