Indian Crypto Regulations Incoming – Katoch Tubes

India & Crypto Regulations

What the News?

According to leading news channels, the Indian Finance Ministry is considering regulating cryptocurrencies earlier than exptected.

What's the hurry?

The fear of financial instability & its use as a source of terror funding & money laundering requires an urgent solution.

The Minister Say

The Finance Minister Nirmala Sitharaman urged for international collaboration to  regulate cryptos. Since  its a borderless asset.

RBI vs Crypto

In recent interview, RBI Governor Shaktikanta Das kept his stand against cryptocurrencies and urged the govt. to ban crypto trading

The Current Scenario

Currently crypto are taxed at 30% capital gains & 1% TDS per transaction but the govt. still didn't call it a legal asset. A strange case

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