Social Media Urge to Use Monero, Zcash to Avoid India’s Crypto Tax

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The Street

By Rob Lenihan Angry posters on social media suggest using so-called privacy coins to avoid India’s 30% crypto tax. Privacy coins were in the social media spotlight after India announced that it was imposing a 30% tax on income from cryptocurrencies and other digital assets. Finance minister Nirmala Sitharaman made the announcement Tuesday while presenting the federal budget. ‘Got a Problem With That, Tax Evader?’She also said that the central bank will introduce a digital currency in the next financial year using blockchain and other supporting technology. The news contrasted from the situati…

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