India is developing SOPs for cryptocurrency says FinMin – Katoch Tubes

indian govt &  crypto regulations

India & Crypto community

From getting banned by RBI  in 2018 to taxation, crypto community is fighting for  proper regulations in the country. 

The latest headlines

Acc. to the statement released by the Indian Finance Minster, India is developing SOPs for cryptos during its G20 presidency

More power to crypto

FinMin also stated that the govt. want the technology to survive and be in a position for the FinTech & other sectors to benefit.

A Technical Framework

The government is determined to build a tech driven framework to regulate cryptocurrency esp. after money laundering news

RBI Against Crypto

Despite the regulations, RBI is totally against cryptocurrencies. It banned crypto in 2018 and still vote against cryptos.

Taxation hurting crypto

Meanwhile India is facing heavy crypto taxation at 30% on crypto gains and 1% TDS on every transaction.

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