Manage your money - Crypto as an Asset Class

The cryptocurrency industry is growing at a rapid pace with Bitcoin, Dogecoin, Ethereum being the hot buzzwords today, even as the government plans to table a reworked bill on crypto assets in the ongoing Winter Session of Parliament. According to NASSCOM, the Indian cryptocurrency market has been growing exponentially over the last few years and is expected to reach up to $241 million by 2030 in India and $2.3 billion by 2026. The government has already said that the income earned from investing in cryptocurrencies would be taxable. It is discussing with stakeholders whether crypto assets should be completely banned or should be allowed in a limited way, with a regulator regulating those.

While it is uncertain if the proposed bill will facilitate the realisation of the estimated worth of this huge market, crypto assets, unlike the stock market, do not have any regulation. Crypto value sees wild swings up and down on a regular basis. Given the extreme volatility of these digital assets, it is important that investors are guided and advised on all the do(s) and don't(s) of crypto assets market before investing in it.

Cognizant of the volatility of investing in crypto assets, India’s most trusted financial website Financial Express, through this personal finance workshop cum advisory platform, aims to bring related experts, crypto trading platforms, blockchain enthusiasts, to put their minds together and shed light on intricacies of how and when to invest in crypto assets.

Crypto assets are unregulated and decentralised resources backed by a promising technology called the blockchain. The investors and investment advisors are in a fix on what should be the way forward for their crypto funds or shares with speculations around the upcoming bill on the same. The virtual event will offer great insights on the way ahead and areas including, if one should invest further or not, the  optimum share that crypto assets should hold in your entire investment portfolio, tax implications, regulatory requirements, and even expectations from the upcoming bill. The online platform will also give the attendees an opportunity to interact and discuss with the experts from the field.

Interestingly, India has a massive base of crypto asset owners, though RBI governor Shaktikanta Das has said the users number and investment figures are exaggerated. Time and again, the government has endorsed blockchain technology but is also reluctant to support coins like Bitcoin, Ether, etc. Too much is happening around the segment and with the proposed Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, it is the right time for us to discuss the do(s) and don't(s) around it.