Indian govt. crypto ban

Indian govt. crypto ban

Is India planning for crypto ban?

After imposing hefty taxes on cryptocurrency transactions, Indian govt. has no such plans of banning it. However, RBI is thinking otherwise

What is RBI saying?

The Reserve Bank of India is against cryptocurrencies. It believes that crypto will destabilise the monetary and fiscal stability  of India.

What is Govt. saying?

Replying to RBI. The FM of India has indicated that a global framework for regulating the crypto industry is required & mere banning doesn't solve the purpose.

Should the news worry the crypto investors?

Not at all. Its a conversation in the right direction. The dialogue has indicated that govt. is planning to regulate the industry.

The current situation  of crypto in India

India has imposed tax on cryptocurrencies starting 1 April 2022. 30% on profits & 1% on every trade. Loss cannot be claimed under TDS

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