Which Indian bank support cryptocurrency? – Katoch Tubes

Curious case of Indian Banks & Crypto

Indian Govt vs Crypto.

There's always on & off relationship between the govt. & crypto. Indian govt. still in the grey area when talking about regulations in crypto

The Taxation

Taxation on crypto is a double edged sword. One side it keeps the crypto legal & on the other its heavy taxation.

How much Crypto tax? 

Flat 30% on capital gains and 1% TDS on every crypto transaction, doesn't matter if you made profit or loss.

What does RBI say?

RBI governor Shaktikanta Das is against legalising cryptocurrency. He believes it will bring financial instability in the country.

FM recent Statement

Since crypto is borderless. The Finance Minister of India Nirmala Sitharaman is urging nations for international collaboration & regulate it.

Banks supporting Crypto

As a rule of thumb, all Indian banks follows Reserve Bank of India. Since its against crypto, no bank can dare support crypto at the moment.

Best way to buy crypto?

The best way to buy crypto for Indians is from international exchange like Binance and using peer-to-peer service via Netbanking or UPI

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