Mon. PM Seeds of Wisdom Crypto Update(s) 7-7-25

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Seeds of Wisdom

Crypto Tax India: Here’s What the New 18% GST Means for Traders

Triple-tax regime pushes Indian crypto users toward DeFi as regulatory pressure escalates

▪️ India Imposes 18% GST on Crypto Services via Bybit – Starting July 7, 2025, Indian users will be taxed on trading, staking, yield, and more.
▪️ Triple Tax Burden May Push Users to DeFi – Combined with the 30% profits tax and 1% TDS, the new GST may accelerate a shift away from centralized exchanges.

India’s Harshest Crypto Tax Yet Starts July 7

India’s crypto climate just turned more hostile. Influencer Keyur Rohit (176K+ followers on X) revealed that Bybit will apply an 18% Goods and Services Tax (GST) on all crypto services for Indian users starting July 7, 2025.

This move cements India’s place among the most heavily taxed crypto jurisdictions in the world.

What Services Are Now Taxed?

The 18% GST will apply to nearly every aspect of Bybit’s platform in India, including:

• Spot and futures trading
• Copy trading and bot trading
• Staking rewards
• Withdrawals
• Card payments
• Token swaps
• Yield earnings
• Deposits via card or bank

Crypto loans and Bybit Card services will be discontinued entirely for Indian users.

India’s “Triple Tax Trap”

Here’s the updated crypto tax structure facing Indian traders:

• 30% tax on crypto profits
• 1% TDS on every sell transaction
• 18% GST on services (starting July 7)

This layered tax burden may push users toward DeFi platforms, where tax enforcement is less direct and privacy is enhanced.

DeFi: A Potential Escape?

Rohit warns that this heavy-handed tax policy may backfire, driving more users to decentralized platforms that offer:

• Greater user privacy
• No 1% TDS or centralized reporting
• Fewer immediate compliance demands

While not paying taxes remains i*****l, the current tax climate may unintentionally undermine government oversight by forcing users underground.

India’s Crypto Crossroads

As of July 7, Indian crypto users will face one of the highest cumulative tax burdens in the world. While decentralized platforms might offer temporary relief, the only long-term solution is regulatory reform that protects both revenue and innovation.

Without a balanced approach, India risks stifling its own crypto industry and losing ground to more innovation-friendly economies in Asia.

@ Newshounds News™

Source: Coinpedia    

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90% of BRICS Transactions Now Settled in Local Currencies, P***n Confirms at 2025 Summit

At the 2025 BRICS summit held in Rio de Janeiro, Russian President V************n announced that 90% of all cross-border transactions with BRICS members are now conducted in local currencies—a significant milestone in the bloc’s ongoing push to de-dollarize global trade.

According to P***n, the majority of these transactions have been settled in the Russian ruble and other national currencies, signaling a marked departure from reliance on the U.S. dollar.

“The use of national currencies in trade among our countries is steadily growing,” P***n said. “In 2024, the share of our national currency, the ruble, along with the currencies of friendly nations, accounted for 90% of Russia’s settlements with other BRICS states.”

Local Currency Settlements Take Center Stage

BRICS member nations are reportedly engaged in discussions to streamline and scale payment systems using their respective national currencies. This includes improvements in financial services infrastructure such as logistics, insurance, and payment processing, aimed at reducing dependency on U.S.-dominated systems.

“First and foremost, in such areas as technology, the efficient development of resources, logistics and insurance, trade, and finance. It is also necessary to further expand the use of national currencies in mutual settlements,” P***n noted during the summit.

A Strategic Shift Away from the U.S. Dollar

Russia has emerged as a central advocate within BRICS for transitioning to local currency payments, a move it sees as essential to asserting financial sovereignty. China has joined in this effort, promoting global de-dollarization by encouraging nations in Asia, Africa, and South America to adopt non-dollar trade frameworks.

This momentum marks a stark geopolitical shift, as BRICS becomes the only international bloc actively organizing to challenge the West’s financial influence.

The Bigger Picture

As the U.S. dollar takes a backseat in BRICS trade agreements, the bloc is laying the groundwork for a parallel financial system—one that seeks to compete with, and potentially decouple from, the U.S.-led global order.

If sustained, this realignment could have far-reaching implications for international finance, reserve currencies, and global power balances.

@ Newshounds News™

Source: Watcher.Guru

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Source: Dinar Recaps

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