# Indian Blockchain News ## The India Blockchain Forum supports the adoption of Web3.0 As a global hub for blockchain and [web3.0](https://etherworld.co/2018/10/30/introducing-web3-commands-to-browser/), the India Blockchain Forum aims to make the country a global hub for blockchain and [web3.0](https://etherworld.co/2018/10/30/introducing-web3-commands-to-browser/). A group of key influencers within the Indian Blockchain Ecosystem has formed the India Blockchain Forum. The organisation was launched on Sunday in Hyderabad, Telangana.A launch ceremony was held by Jayesh Ranjan, Principal Secretary, Industry & Commerce and Information Technology, Government of Telangana. This shall create community chapters across the countrsy to increase awareness and access to global best practices. To help build a holistic framework for adoption of blockchain and web3.0, India Blockchain Forum envisages collaborating with governments, regulators, industry and academia. Additionally, the India Blockchain Forum will collaborate with academia and research institutes, nurture the community, and support corporate adoption of web 3.0 technologies. With over 40 influencers, the forum is setting up Special Interest Groups (SIGs) in areas such as CBDC, Metaverse, Policy Framework and NFTs. As the world's largest web3.0 community, the India Blockchain Forum will be open to all stakeholders. ## Indian users take global exchange route, To dodge crypto tax Since July, users have been using overseas exchanges to avoid paying the 1% TDS imposed on cryptocurrency transactions. Trading volume of Indian crypto exchanges have dropped significantly after new tax laws on crypto traders were imposed. Starting July 1, 1% TDS was imposed for all crypto traders on all Indian crypto exchanges. If you are trading 100 INR, 1 INR would be deducted as TDS. And for daily traders, 1% TDS does not make any sense, as it depletes their trading volume. For anyone who is trading 5 times a day, close to 5 percent is lost, and the trader is left with only 95 percent of what he had before starting trading, considering he made no profit no loss. ## Launch of Web3 Discovery Fund by CoinSwitch ## ## 5