Coinbase Ventures eyes on Indian crypto and Web3, to conduct an in-person pitch event.
$1M+ is up for grabs, including $25k bonus grants provided byOn Apr. 8, the in-person pitch day will be hosted in Bengaluru in partnership with Buidlers Tribe, which will be further supported by Belief DAO to provide bonus grants up to $25,000. The rising interest of foreign investors in India’s crypto space can be attributed to the recent regulatory clarity brought forward by the controversial crypto tax law.
. Additionally, the investors will not be allowed to offset any crypto losses to compensate for the taxation. When asked about the general notion about Web3 as a disruptor, Buidlers Tribe co-founder Pareen Lathia told Cointelegraph that Indian entrepreneurs are excited to take their firms global. Speaking about the impact of new tax law in attracting foreign investments, Lathia revealed that:While the Indian Finance Minister Nirmala Sitharaman has previously shared her intent to rethink the crypto tax in the near future, Coinbase’s entry into the market has attracted over 110 applicants.
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