Crypto Spotlight: Feature 7 — With Anoush Bhasin
Snapshot
- The community has grown leaps and bounds, especially after the Supreme Court verdict. Another good thing is that a number of legitimate projects are now targeting widespread education.
- The biggest hurdle is the Indian Government’s aversion to digital assets. As soon as a regulatory framework is put in place, we will see a tremendous influx of traditional investors wanting a piece of digital assets.
- We will see more regulations, increased adoption, and digital assets becoming a household asset class.
The seventh feature of the #CryptoSpotlight series is here and today our guest of honor is Anoush Bhasin. He is the founder of Quagmire Consulting, a crypto-related tax, and legal advisory firm. So, let’s begin and find out about his journey and what according to him are the major challenges of the Indian crypto industry.
1) Hello Anoush! Can you tell our readers what your brand/company is about and how it is helping the Indian crypto ecosystem?
Anoush — I run a tax and legal advisory firm that assists individuals, companies, and budding crypto projects to navigate the muddy waters of crypto regulations globally.
2) What is your crypto story? How did you first start and what motivated you to become a community voice?
Anoush — Once I became interested in crypto, I started attending community events in Delhi. During these meetings, a common topic which almost always came up was crypto regulations. It’s during these conversations that I realized that a large vacuum exists in India in terms of good tax/regulatory guidance. This is what led to the birth of Quagmire Consulting. The idea was always to encourage more and more people to enter crypto, by way of dispelling rumors around legality and by suggesting most legitimate modes of investment/hodling/liquidation.
“Another good thing is that a number of legitimate projects are now targeting widespread education. This is essential to crypto becoming mainstream. Such long-term vision helps create a positive image in the eyes of the Regulators. Moreover, it protects new investors from getting scammed and losing faith in crypto.”
3) What are the changes you have seen from the day you became a community voice until now?
Anoush — The community has grown leaps and bounds, especially after the Supreme Court verdict. Another good thing is that a number of legitimate projects are now targeting widespread education. This is essential to crypto becoming mainstream. Such long-term vision helps create a positive image in the eyes of the Regulators. Moreover, it protects new investors from getting scammed and losing faith in crypto.
4) Tell us how are you bringing about the crypto revolution in India.
Anoush — Being a Chartered Accountant, I have enjoyed the advantage of easily getting peoples’ attention to new investment opportunities. I have educated and handheld hundreds of new investors into their first tryst with crypto. Apart from that, I have assisted a number of clients with sorting out their accounting, books, and taxes when it comes to complicated crypto transactions. Also been fortunate to have been invited by various Regulators to suggest possible methods of regulating digital assets.
“The Indian crypto industry has stellar entrepreneurs who can take us miles ahead of other countries in terms of innovation. Give us the right tools and watch India shine on the global front when it comes to the decade’s biggest innovation/disruption.”
5) What are the current challenges you feel the Indian crypto ecosystem has and what do you think is the resolution for this?
Anoush — The biggest hurdle is the Indian Government’s aversion to digital assets. As soon as a regulatory framework is put in place, we will see a tremendous influx of traditional investors wanting a piece of digital assets.
6) If you get the chance to meet Mr. Modi, what will you tell/suggest to him about the Indian crypto industry?
Anoush — The Indian crypto industry has stellar entrepreneurs who can take us miles ahead of other countries in terms of innovation. Give us the right tools and watch India shine on the global front when it comes to the decade’s biggest innovation/disruption.
Education is the key to evangelizing crypto and spreading the right message. In addition to educating the existing community members, we should try and identify opportunities where crypto can be introduced to people who are completely unaware.
7) What changes do you think crypto will bring in India in the next 5,10 years?
Anoush — We will see more regulations, increased adoption, and digital assets becoming a household asset class.
8) Your views on #TryCrypto and how we can strengthen crypto adoption in India?
Anoush — Education is the key to evangelizing crypto and spreading the right message. In addition to educating the existing community members, we should try and identify opportunities where crypto can be introduced to people who are completely unaware. Maybe start campaigns in colleges/universities or partner with traditional financial advisors and convince them to lend a hand in spreading the crypto virus.
Thank you Anoush for sharing such wonderful insights with our readers. We hope to see you back on ‘Crypto Spotlight’ soon.
Stay tuned with us as we will be publishing the next feature of the series very soon. The feature will have another eminent community voice who will share their views and would enlighten us further on the future prospects of the Indian crypto ecosystem.
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