India Legitimizes Crypto. But There’s a Catch

Published by
The Street

By Rob Lenihan India’s finance minister says the central bank will introduce a digital currency in the next financial year using blockchain and other supporting technology. Crypto now is now legal in India. The country will impose a 30% tax on income from cryptocurrencies and other digital currencies, officials said, which will put them in the highest tax band. Finance minister Nirmala Sitharaman made the announcement Tuesday while presenting the budget. The tax would also apply to gifts of digital assets, with recipients being liable to pay the levy. “The government will also track the money …

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