The 30% Crypto tax is the Indian government at its passive aggressive best (or worst, depending on your view point). The text of this tax law coupled with what the finance minister said in the post-budget interview leads me to think that the government holds the crypto ecosystem in absolute disdain.
Speculation must be like seasoning on a dish – a little bit goes a long way, and the sure fire way to ruin the taste for it, is to overdo it. What is speculation? Before I defend my opinion, let me clarify what I mean by speculation. To me, speculating on investments should be a combination of these things: It should be short-term oriented. By short-term I mean, anything where you can see the results within 6 months. Investing in a micro-cap fund as part of your MF portfolio is not speculative in my mind. But betting on a stock to go up (or down) in a time-frame of 3-6 months would be speculative.