Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

India's new crypto stance is first move to make Bitcoin legal tender: Nigel Green


February 2, 2022 ( Newswire) India is to tax and regulate Bitcoin and crypto after previously considering a ban, which could be the next step towards making it legal tender in the country, affirms the CEO of a game-changing global financial giant.

The bullish assessment from Nigel Green of deVere Group, one of the largest independent financial advisory, asset management and fintech organisations, comes as Indian Finance Minister Nirmala Sitharaman announced a 30% tax on any income from the transfer of digital assets, a first for the nation.

He says: "India, like many other countries, has come to the sensible conclusion that you cannot ban cryptocurrencies. It would have been a futile and backward-looking decision to do so.

"Borderless, digital currencies are unstoppable in our increasingly tech-driven, interconnected world - and the Indian authorities know this.

"Recognition of digital currencies by the world's second most populous country and the world's largest democracy is a landmark moment for cryptocurrencies.

"The clarity will further shore-up the crypto space and help drive prices.

"I'm confident that history will show that this is the first step to India adopting Bitcoin as legal tender in the future.  It remains a long way off, but it's certainly a step in that direction."

At the beginning of the year, Nigel Green told the media that he believes that another three countries will follow El Salvador's example and make Bitcoin legal tender in 2022.

"How many remains unclear, of course. But when it happens, it will be a snowball effect," he noted.

A long-time and high-profile advocate of digital currencies, he has been a consistent voice on calling for regulation of the crypto market.

"Greater regulatory scrutiny must be championed as digital currencies, including Bitcoin, are set to play an ever greater role in the international financial system. What's needed is a strong regulatory framework to be established and approved at an international level.

"Such regulation will help protect investors, tackle criminality, and reduce the possibility of disrupting global financial stability, as well as offering a potential long-term economic boost to those countries which introduce it."

Regarding India's 30% new tax on digital assets, Nigel Green says: "It's too high. I imagine that many investors, to avoid the 30% tax, will not withdraw from government banks and will sell on peer-to-peer platforms, amongst other ways."

He concludes: "India is edging toward making Bitcoin and cryptocurrencies legal tender. We can expect other major economies to copy India's trajectory. This is bullish for prices."

Twitter: @PriorConsults

deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire

Global investors must adhere to regulations of each country. Please read privacy policy:

That's all it takes to get an article published on Investor Ideas - Learn More

News and Research for Bitcoin, Blockchain, Digital Currency Stocks and ICO's

Get more Bitcoin, Blockchain, Digital Currency stock investor ideas - news, articles, podcasts and stock directories

Buy a crypto guest post on