According to Sumit Gupta, Co-Founder of CoinDCX, Bharat Custody addresses a critical gap in the Indian market by offering a secure, localized approach to safeguarding crypto assets.
Under the leadership of co-founder and Executive Chairman Michael Saylor, MicroStrategy pivoted from a traditional software company to what is now often referred to as a "Bitcoin development company."
Saylor presented Bitcoin as a unique corporate asset, describing it as the “universal, perpetual, profitable merger partner.” He argued that unlike traditional mergers and acquisitions, Bitcoin lacks operational complexities and counterparty risks, offering a more streamlined and lucrative opportunity.
According to the ED, the operation involved promising investors astronomical returns through a token-based app called HPZ Token and online gaming and betting platforms. Victims were lured with claims of doubling their investments, only to have their funds siphoned off.
Market analysts suggest that the proposed tax exemptions could enhance Hong Kong's appeal as an offshore financial center, encouraging liquidity inflows into the city.
