DiscoverROCKLAZ Radio with Tanmay Shah#89 Is Crypto Dead? Legal Status and Taxation in India. Potential of Web3 | Drupad Das
#89 Is Crypto Dead? Legal Status and Taxation in India. Potential of Web3 | Drupad Das

#89 Is Crypto Dead? Legal Status and Taxation in India. Potential of Web3 | Drupad Das

Update: 2024-05-31
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Advocate Drupad Das, India’s leading Web3 lawyer, shares the legal and governmental aspects of Web3 in India. We discuss the legal status of crypto, tax issues, token acceptance, and government blockchain initiatives. We compare Indian digital asset regulations with those in the US, EU and China, exploring blockchain's potential to enhance economic liquidity and authenticate cultural artefacts. Drupad emphasises understanding specific blockchain solutions before investing and notes common startup concerns like structuring and IP protection. We also talk about ONDC, NFT advancements, interoperability between blockchains, and Drupad’s journey in the legal profession.

Connect with Guest: https://www.linkedin.com/in/dhrupad-das1905/

Connect with Tanmay Shah:
LinkTree(All Links):
https://linktr.ee/tanmayshah28
TWITTER: https://twitter.com/tanmayshah28
INSTAGRAM: https://www.instagram.com/tanmayshah28/
LINKEDIN: https://www.linkedin.com/in/tanmayshah28/
WEBSITE: https://tanmay.rocklaz.com/

Chapters
00:00 Introduction and Difference between Advocate and Lawyer
04:11 Improvement in Web3 Law in India
05:21 Legal Status of Crypto in India
08:01 Taxation of Crypto in India
08:05 Accepted Tokens and Scope
08:59 NFTs and Contracts
12:17 Smart Contracts and Stamp Duty
13:58 Regulated and Non-Regulated Activities
17:01 Government Blockchain and Digital Public Infrastructure
26:18 India's Approach to Data Regulation
30:53 Geopolitical Implications of UPI
32:14 Comparison with American and European Unions
32:29 Regulation of Amazon and Introduction of ONDC
33:57 Maximizing Value through Velocity and Liquidity
36:45 The Promise of NFTs and Ownership of Digital Assets
41:03 The Concept of Possession in Digital Assets
42:30 The Implications of Digital Assets for Society
43:24 The Web3 Bubble and Tech Cycles
48:23 The Maturity and Impact of Web3
51:39 Blockchain as a General Purpose Technology
54:55 The Interface Problem in Web3
56:40 The Role of Government in Web3
58:59 Provenance and Blockchain in Assam
01:01:07 National Government and Blockchain
01:05:49 Disputes over Blockchain Assets
01:07:55 Government Regulations and Crypto Holdings
01:08:51 Choosing the Right Blockchain
01:09:48 Understanding Blockchain Solutions
01:10:38 Marketing Made in India Blockchain Products
01:11:26 Legal and Structural Considerations for Startups
01:12:46 Regulations and IP Protection
01:13:53 The Scope of Gift City for Web3 NFTs
01:17:00 Alternative Investment Funds (AIFs)
01:19:40 Blockchain Transactions in AIFs
01:21:29 ONDC: The Online National Digital Platform
01:22:04 ONDC vs. Zepto and Amazon
01:24:51 Delivery Services in ONDC
01:27:55 Centralized vs. Distributed Data in AI
01:31:38 The Role of Books in Legal Research
01:34:37 AI and Blockchain in Legal Research
01:36:06 Blockchain and Tamper-Proof Government Documents
01:38:01 Different Grades of Immutability
01:38:42 Layer 2 Assets and Interoperability
01:39:27 Account Abstraction and Overcoming the Interface Problem
01:41:23 NFT 2.0 and Dynamic NFTs
01:43:24 Emote Protocol and Social Interactions with NFTs
01:44:06 Upcoming ERC Standards and Protocol Upgrades
01:47:59 Dhrupad's Journey with Art and Law
01:50:52 The Language of Law and Courtroom Experience
01:57:09 The Role of Technology in Law
02:03:19 The Progressive Nature of Government Policies
02:03:51 Final Words and Advice for the Audience
02:04:33 Experience of the Conversation

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#89 Is Crypto Dead? Legal Status and Taxation in India. Potential of Web3 | Drupad Das

#89 Is Crypto Dead? Legal Status and Taxation in India. Potential of Web3 | Drupad Das

Tanmay Shah