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Cryptocurrency News: Cryptocurrency investors are worried about getting money from crypto exchanges

Cryptocurrency News Updates: The government has received many complaints against cryptocurrency exchanges in which people have said that their money is not getting back.

Cryptocurrency News Updates: Investors investing in Cryptocurrency are troubled these days. Because they are not able to get their money back after selling crypto. In fact, the government has received many complaints against cryptocurrency exchanges in which people are not getting their money. According to reports, from the Ministry of Finance, the Ministry of Home Affairs and the Ministry of Consumer Affairs, such complaints are continuously being received. In which the cryptocurrency exchanges are not listening to the demand for refund of the traders who trade in crypto. 

In fact, many people have invested in crypto in recent years after seeing tempting advertisements for cryptocurrencies. Many Indians have invested in cryptocurrencies like bitcoin, ether, dojicoin. Because this sector is unregulated, investors who have invested in crypto are not getting their money. And due to no regulator, their complaints are not being heard. A large number of people are trapped in these exchanges. 

The winter and budget session of Parliament has passed but the government is yet to enact a law in Parliament to crack down on cryptocurrencies. And neither cryptocurrency has been banned. It is necessary that while presenting the budget for 2022-23, Finance Minister Nirmala Sitharaman has imposed a tax of 30 percent on the profits made by them to trace those who transact in cryptocurrencies. From the current year, 30 percent tax will have to be paid on the profits of transactions in crypto. RBI Governor Shaktikanta Das is strongly against cryptocurrencies. He has even described it as very dangerous for the Indian financial system. 

So expressing concern over the possible misuse of cryptocurrencies, Finance Minister Nirmala Sitharaman has also said that India will take a very careful and thoughtful decision on the regulation of virtual currency. The Finance Minister said in a conversation at Stanford University, the decision on crypto will not be made in a hurry. The Finance Minister said that cryptocurrencies can be used for money laundering or terror financing. 

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