India may issue a blanket ban on all cryptos, statements from top officials indicate. However, the government is drafting a new bill that would allow for the private use of cryptos. Just last week, the country introduced a Cryptocurrency and Regulation of Official Digital Currency Bill 2021. The bill spooked investors, as it was identical to the draft of the 2019 bill to ban crypto. The bill wrote that it intended to "create a facilitative framework" for India's official digital currency. To…
Tag: India Ministry of Finance
Recent Report Reveals India Ministry of Finance’s Plan to Impose Taxes on Crypto
In a recent report, the Indian government is slowly changing its stance on the cryptocurrency space. According to the report, Indian lawmakers are thinking of imposing taxes on all cryptocurrency-related activities. Consequently, the taxation is going to affect all crypto exchanges and trades in the country. Moreover, the report shows how the decision focuses on the idea that crypto-based ventures are profitable. Thus, in line with this statement, the government of India intends to impose taxes on crypto-related activities. And only because they…
3 months ago
