Crypto india regulation tax income tds understand sector first why others should take note
2 years, 7 months ago

Crypto india regulation tax income tds understand sector first why others should take note

ABP News  

Cryptocurrencies have been in the spotlight ever since the Supreme Court removed the blanket ban on them in early 2020. India, despite being a late entrant, embraced the crypto world with open arms and today there are as many as 27 million Indians who hold crypto assets, largely from Tier II and Tier III cities. A close observation of the steps taken so far by the Ministry of Finance reveals our regulators look at the three aspects differently and I reckon it is the root cause why India has offered mixed signals so far and has taken time so that it can support the budding industry while also protecting investor interests. If we closely look at all the announcements made during the last Union Budget, while the majority of noise has been around crypto taxation, a very interesting detail around our government’s firm commitment to establish and promote Digital Rupee has been a very welcome step which has also been reiterated by RBI since then. Perhaps India’s cautious approach to crypto and its various aspects could be treated as a learning curve for other governments to follow, before deciding to outrightly adopt or ban the sector without dedicated research.

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History of this topic

Pakistan Moves To Legalise Cryptocurrency To Attract Foreign Investment. Will India Follow Suit?
1 week, 1 day ago

Pakistan Moves To Legalise Cryptocurrency To Attract Foreign Investment. Will India Follow Suit?

ABP News  

Pakistan is making strides toward embracing digital assets by setting the stage for cryptocurrency legalisation. With more nations establishing cryptocurrency regulations, Pakistan’s initiative could position it as a key player in the digital finance sector. Pakistan Crypto Council to Oversee Digital Asset Integration To facilitate the transition, the Pakistan government has reportedly launched the Pakistan Crypto Council, a newly formed …

What is Crypto? Is it Legal in India? All You Need to Know
Trending News
3 weeks ago

What is Crypto? Is it Legal in India? All You Need to Know

Deccan Chronicle  

In recent years, crypto has emerged as a fascinating and distinct asset class. Let us examine these aspects in order: Understanding Crypto: A New Digital Asset Class At its core, crypto refers to digital assets secured by cryptography. The IT Bill, presented in the Lok Sabha on February 13 this year, explicitly describes virtual digital assets ‘as a digital representation …

What is Crypto? Is it Legal in India? All You Need to Know
3 weeks ago

What is Crypto? Is it Legal in India? All You Need to Know

Deccan Chronicle  

In recent years, crypto has emerged as a fascinating and distinct asset class. Let us examine these aspects in order: Understanding Crypto: A New Digital Asset Class At its core, crypto refers to digital assets secured by cryptography. The IT Bill, presented in the Lok Sabha on February 13 this year, explicitly describes virtual digital assets ‘as a digital representation …

Crypto & The Indian Economy: How New Income Tax Bill Marks A Pivotal Moment
3 weeks, 1 day ago

Crypto & The Indian Economy: How New Income Tax Bill Marks A Pivotal Moment

ABP News  

By Vikram Subburaj Digital assets in India have evolved into a complex intersection of technological innovation, regulatory calibration, and fiscal oversight. Recent developments, notably the Union government’s initiative to draft a comprehensive concept paper on crypto and the introduction of the Income Tax Bill, 2025, in the Lok Sabha, signal a pivotal moment in India’s crypto journey. Income Tax Bill, …

Crypto trading booms in India's interiors as job growth and incomes disappoint
1 month ago

Crypto trading booms in India's interiors as job growth and incomes disappoint

The Hindu  

Like thousands of his countrymen in far-flung places, flower-shop owner Ashish Nagose has been learning about trading cryptocurrencies by attending classes every weekday for the past two months in his home city of Nagpur in western India. Newfound crypto enthusiasts in India such as Nagose have helped grow cumulative trading volumes of bitcoin, ethereum, dogecoin and other cryptocurrencies on four …

Coinbase looks to come back to India, in talks with regulators: Report
1 month, 2 weeks ago

Coinbase looks to come back to India, in talks with regulators: Report

Hindustan Times  

US-based cryptocurrency exchange Coinbase is working on re-entering the Indian market after exiting more than a year ago TechCrunch reported. This comes at a time when India is reviewing its stance on cryptocurrencies, primarily due to global regulatory shifts, and also recent US policy changes, according to a Reuters report which added that Economic Affairs Secretary Ajay Seth told earlier …

India's Crypto Policy Delayed Further? Report Suggests Re-Evaluation Of Stances By Multiple Jurisdictions
1 month, 3 weeks ago

India's Crypto Policy Delayed Further? Report Suggests Re-Evaluation Of Stances By Multiple Jurisdictions

ABP News  

India is re-evaluating its position on cryptocurrencies following recent international developments, including regulatory changes in major economies, according to a senior Government official, reported Reuters. The decision comes as multiple jurisdictions have softened their stance on digital assets, prompting India to revisit its delayed discussion paper on crypto policy, which was initially expected to be released in September 2024. Crypto …

India reviewing crypto position due to global changes, senior official says
1 month, 3 weeks ago

India reviewing crypto position due to global changes, senior official says

The Hindu  

India is reviewing its stance on cryptocurrencies due to shifting attitudes towards the virtual asset in other countries, a senior government official told Reuters on Sunday. He did not specifically mention the United States, where Mr. Trump last week ordered the creation of a cryptocurrency working group tasked with proposing new digital asset regulations and exploring the creation of a …

Government is reportedly thinking about changing its stance on cryptocurrency
1 month, 3 weeks ago

Government is reportedly thinking about changing its stance on cryptocurrency

India Today  

India has a rigid cryptocurrency environment, and its stance on the digital currency has been anything but consistent. In December 2023, the Financial Intelligence Unit in India issued show-cause notices to 9 offshore crypto exchanges, including Binance and Kucoin, for non-compliance with local regulations. In 2023, former RBI Governor Shaktikanta Das also represented a critical stand against cryptocurrency in India. …

India reviewing crypto stance amid global policy shift: Report
1 month, 3 weeks ago

India reviewing crypto stance amid global policy shift: Report

India Today  

India is reviewing its stance on cryptocurrencies due to shifting attitudes towards virtual asset in other countries, a senior government official told Reuters on Sunday. He did not specifically mention the United States, where Trump last week ordered the creation of a cryptocurrency working group tasked with proposing new digital asset regulations and exploring the creation of a national cryptocurrency …

Budget 2025 and your finances: Check this comprehensive guide for impact on salaries to crypto to rent
1 month, 3 weeks ago

Budget 2025 and your finances: Check this comprehensive guide for impact on salaries to crypto to rent

Live Mint  

The Union Budget’s announcement of the new ₹12,00,000 tax slab has created quite a buzz, bringing cheer to many taxpayers. New Tax Regime Vs. Old Tax Regime for year 25-26 The table compares income tax liabilities under the New Tax Regime and old tax regime for the Financial Years 2025-26, emphasizing the tax savings resulting from changes in tax rates …

'We Are Disappointed': Budget 2025 Offers No Relief for Crypto Sector, Industry Voices Concerns
1 month, 3 weeks ago

'We Are Disappointed': Budget 2025 Offers No Relief for Crypto Sector, Industry Voices Concerns

ABP News  

Budget 2025: The crypto industry expressed dismay over the Union Budget 2025, which maintained the current tax structure for Virtual Digital Assets without offering the much-anticipated relief. Shekhar added, "However, with no direction being provided towards the future of Virtual Digital Assets and their regulations has left the huge crypto ecosystem in the country disappointed." 'High Tax Burden Driving Away …

Crypto assets to be included in assessing undisclosed income, says Sitharaman in Budget
1 month, 3 weeks ago

Crypto assets to be included in assessing undisclosed income, says Sitharaman in Budget

Hindustan Times  

Finance Minister Nirmala Sitharaman in her budget speech has proposed that “virtual digital asset” should be included in defining undisclosed income, the latest step by the government to tighten oversight of cryptocurrencies. "It is proposed to add the term 'virtual digital asset' to the said definition of undisclosed income of the block period," the Budget document said. The move comes …

Crypto industry expects simple tax structures, compliance in Budget 2025
2 months ago

Crypto industry expects simple tax structures, compliance in Budget 2025

New Indian Express  

BENGALURU: With Bitcoin prices continuing to rise and US President Donald Trump’s order of creating a cryptocurrency working group, the virtual assets industry in India says the momentum is building up and that the country should remain in the forefront. Edul Patel, co-founder & CEO of Mudrex said, “The 1% TDS on crypto transactions led many investors and traders to …

Interview: Yesha Yadav on ABC of Donald Trump’s new crypto world
2 months, 1 week ago

Interview: Yesha Yadav on ABC of Donald Trump’s new crypto world

Hindustan Times  

Washington: President-elect Donald Trump has promised a new era of cryptocurrency, with the industry expecting clearer and a more liberal regulatory structure. And what has happened over time is of course that Bitcoin as well as other cryptocurrencies have allowed for certain economies where the local marketplace is perhaps not as strong, where people don’t have faith in the domestic …

Crypto tax cuts in Budget 2025? Indian industry hopes for relief from FM Nirmala Sitharaman
2 months, 1 week ago

Crypto tax cuts in Budget 2025? Indian industry hopes for relief from FM Nirmala Sitharaman

Live Mint  

As the Union Budget 2025 approaches, the cryptocurrency industry in India anticipates a more favourable tax and regulatory environment. Crypto sector seeks income tax reforms ahead of Union Budget 2025 "The 1% TDS on crypto transactions led many investors and traders to turn towards foreign exchanges, making it harder for the government to track activity. A reduction of TDS down …

Indians Have Rejected Crypto. But 2025 Could Change That
3 months ago

Indians Have Rejected Crypto. But 2025 Could Change That

ABP News  

By AR Hemant The BankBazaar Moneymood 2025 survey report reveals a sharp decline in Indians’ interest in cryptocurrency. Of the salaried men and women surveyed in the study, only 12 per cent of Indians invested in crypto in 2024, compared to 32 per cent in 2022​. Taxation and Security Concerns Hurt Crypto The Indian government’s 30 per cent tax on …

Crypto Tax Gets Clarity, ITAT Rules VDAs To Be Recognised As Capital Assets. Check Out New Framework For Profits
3 months, 1 week ago

Crypto Tax Gets Clarity, ITAT Rules VDAs To Be Recognised As Capital Assets. Check Out New Framework For Profits

ABP News  

The Income Tax Appellate Tribunal in Jodhpur has provided much-needed clarity on the taxation of cryptocurrencies in India. By recognising crypto as capital assets, it provides much-needed relief for investors who sold crypto before 2022, allowing them to benefit from long-term capital gains tax rates. For investors, this means that any profits made from selling cryptocurrencies will now be subject …

Cryptocurrencies to be taxed as capital gains: Relief for pre-FY23 earnings
3 months, 1 week ago

Cryptocurrencies to be taxed as capital gains: Relief for pre-FY23 earnings

India Today  

The Income Tax Appellate Tribunal in Jodhpur has clarified how cryptocurrency profits should be taxed in its ruling in Tuesday. TAXATION BEFORE AND AFTER 2022 Pre-2022 transactions: Before the Virtual Digital Assets regulations came into effect in 2022, profits from crypto sales were categorised as capital gains, much like profits from stocks or real estate. Investors holding cryptocurrencies for more …

Cryptocurrency tax in India: Know how much you will have to pay on Crypto investments
3 months, 2 weeks ago

Cryptocurrency tax in India: Know how much you will have to pay on Crypto investments

India TV News  

Following Donald Trump’s victory in the US presidential elections, the value of cryptocurrencies, including Bitcoin, has skyrocketed. Heavy 30 per cent Tax on Gains In India, cryptocurrencies aren't formally identified as legal tender under the Income Tax Act’s Section 2, which classifies them as Virtual Digital Assets. These provisions mandate: A flat 30 per cent tax on profits earned from …

Mint Money Festival: Is it worth investing in cryptocurrencies, an unregulated asset class in India?
4 months ago

Mint Money Festival: Is it worth investing in cryptocurrencies, an unregulated asset class in India?

Live Mint  

Imagine a fixed-income investment advisor who tried out crypto assets and then got converted. While Pande invested in crypto assets such as Bitcoin, Ethereum, Arbitrum and Uniswap, he continued his systematic investment plans in mutual funds, exchange traded funds and contributions to the National Pension System. It is an asset class for the young generation that understands technology, Ashish Singhal, …

Bitcoin, cryptocurrencies not legal in India
Trending News
4 months, 1 week ago

Bitcoin, cryptocurrencies not legal in India

Deccan Chronicle  

New Delhi: Bitcoin and cryptocurrency are in news again after allegations were levelled against Congress's Maharashtra president Nana Patole and NCP 's Supriya Sule of being involved in "illegal bitcoin activities" to fund their poll campaign. - Cryptocurrency has no intrinsic value and is not redeemable for another commodity, such as gold - has no physical form and exists only …

Ready to cash out Bitcoin? Understand income tax rules on cryptocurrency in India
4 months, 1 week ago

Ready to cash out Bitcoin? Understand income tax rules on cryptocurrency in India

Live Mint  

Since Donald Trump's victory in the US presidential elections on November 5, 2024, Bitcoin, the world's largest cryptocurrency, has risen more than 30%, reaching its highest point ever. If you are invested heavily in Bitcoin and want to book profit from this biggest crypto asset, remember that taxes on virtual digital assets in India operate differently than those on more …

Will Bitcoin's revival boost India's appetite for cryptos despite high taxes?
4 months, 1 week ago

Will Bitcoin's revival boost India's appetite for cryptos despite high taxes?

India Today  

Bitcoin has taken the financial world by storm once again, this time surging to a record-breaking $90,000 following Donald Trump's unexpected victory in the US presidential election. TRUMP'S IMPACT ON THE CRYPTO SURGE The crypto market has been riding a wave of optimism following Donald Trump's election as US president, with hopes that his administration will adopt a crypto-friendly stance. …

India's crypto industry expects Bitcoin surge to boost domestic business
4 months, 2 weeks ago

India's crypto industry expects Bitcoin surge to boost domestic business

Live Mint  

New Delhi: India’s battered cryptocurrency industry, which has seen retail trading volumes decline by over 90% in the past three years, is cautiously optimistic about the industry’s latest surge. “The exchange-traded funds in the US have further rationalized cryptocurrency investments around the world, and the US’s pro-cryptocurrency stance could boost a more favourable policy approach around the world including in …

Bengaluru auto driver gains social media fame for accepting cryptocurrency
7 months ago

Bengaluru auto driver gains social media fame for accepting cryptocurrency

New Indian Express  

In Bengaluru, a city celebrated for its tech-savvy culture, a local auto-rickshaw driver has captured widespread attention by accepting cryptocurrency as payment for rides. His forward-thinking approach was spotlighted in a viral social media post shared on August 18, featuring a photo of the driver standing beside his auto-rickshaw, proudly displaying a sign that reads, “We accept cryptocurrency.” The post …

Crypto industry players see light at end of tunnel despite regulatory vacuum. Here’s why
7 months, 3 weeks ago

Crypto industry players see light at end of tunnel despite regulatory vacuum. Here’s why

Live Mint  

The Ministry of Finance recently made it clear in a written reply in the Lok Sabha that the government is not considering a law to regulate the transaction of cryptocurrencies. However, crypto industry participants are not too pessimistic about Chaudhary’s statement, which was released at the behest of the Finance Ministry since they pin hopes on a discussion paper on …

Crypto Tax In India: The Current State & How Union Budget 2024 Can Help
8 months, 1 week ago

Crypto Tax In India: The Current State & How Union Budget 2024 Can Help

ABP News  

As the global crypto markets are on a bull run, the excitement among Indian investors is also palpable. With the Union Budget 2024 on the horizon, understanding the current tax framework and anticipating potential changes can help investors make informed decisions and optimise their portfolios. Anticipated Changes In Union Budget 2024 As we approach the Union Budget 2024, several potential …

Want To Make The Most Of Your Crypto Investments? Here Are Some Handy Tips To Help You Out
8 months, 1 week ago

Want To Make The Most Of Your Crypto Investments? Here Are Some Handy Tips To Help You Out

ABP News  

The world of crypto investing is as exhilarating as it is unpredictable. Understanding Market Sentiment And On-Chain Metrics Market sentiment plays a crucial role in influencing crypto returns. For advanced investors, understanding more complex chart patterns like Head and Shoulders ; Cup and Handle ; and Fibonacci retracement levels can provide deeper market insights. Moreover, understanding tax implications, compliance requirements, …

Crypto industry seeks conducive tax environment
8 months, 3 weeks ago

Crypto industry seeks conducive tax environment

New Indian Express  

BENGALURU: The first half of this year was a significant one for the crypto industry ­-- Bitcoin touched its peak of over $73,000 in March, Bitcoin Halving, US SEC granted approval for spot Bitcoin ETFs. All these have driven increased trading activity in the Indian crypto market, and crypto exchanges hope that the upcoming Budget will create a conducive regulatory …

Crypto currencies have no underlying value, says RBI official
1 year, 1 month ago

Crypto currencies have no underlying value, says RBI official

The Hindu  

Crypto currencies cannot be referred to as "currencies" as they have no underlying value, a central bank official said. "Crypto currencies cannot be called currencies as they don't have any underlying value," P Vasudevan, an executive director at the RBI, said during a panel discussion organised by IIM-Kozhikode here. Ultimately it is a call that the government has to take …

Budget Highlights 2024: Govt to lay white paper on economic performance
1 year, 1 month ago

Budget Highlights 2024: Govt to lay white paper on economic performance

Hindustan Times  

Feb 1, 2024 7:33 PM IST Ashish Singhal, Co-founder and Group CEO, PeepalCo says, "Crypto is experiencing a resurgence this year. On a positive note, the Government of India now has the chance to introduce comprehensive crypto regulations and improved tax policies in the upcoming full Budget, with the full support of the electorate. We continue to urge: i) Allow …

India leads in grassroots cryptocurrency adoption: Report
1 year, 5 months ago

India leads in grassroots cryptocurrency adoption: Report

The Hindu  

India stands first when it comes to grassroots cryptocurrency adoption, according to blockchain analytics platform Chainalysis’ 2023 Global Crypto Adoption Index released this month. Chainalysis’ report pointed out that India’s crypto adoption rates had soared despite the country’s tax regime and regulatory environment, which it called “’challenging”. “While every exchange operating in the country is required to collect TDS taxes …

G20 summit 2023: Crypto market hopeful for constructive dialogue on global regulation
1 year, 6 months ago

G20 summit 2023: Crypto market hopeful for constructive dialogue on global regulation

India TV News  

As world leaders are gathering in India to attend G20 summit 2023, the crypto market is hopeful for a dialogue on the revival of the industry with a common regulation in place. Under the leadership of India's presidency, the G20 countries are reportedly poised to introduce what could be recognised as the first-of-their-kind regulations governing cryptocurrencies and crypto assets worldwide. …

Future Of Crypto In India: How Bitcoin ETFs, Regulatory Clarity Can Help
1 year, 6 months ago

Future Of Crypto In India: How Bitcoin ETFs, Regulatory Clarity Can Help

ABP News  

In recent times, the cryptocurrency industry has undergone a noteworthy transformation, evolving from a limited group of developers to a community that has fostered a trillion-dollar economy. By integrating cryptocurrencies into the existing anti-money laundering framework, India aims to enhance financial transparency and mitigate the risks associated with illicit activities in the crypto sector. The introduction of Bitcoin ETFs could …

Crypto India Tax PMLA State Future Regulation RBI CBDC Digital Rupee ABP Live TV
1 year, 7 months ago

Crypto India Tax PMLA State Future Regulation RBI CBDC Digital Rupee ABP Live TV

ABP News  

Crypto is often called the "Internet of Value" and for good reason. Here’s Why Crypto Could Prove Important To India Remittances: A Game Changer India holds the global top spot for remittance receipts, raking in approximately $80 billion annually. Crypto and decentralised technologies are not merely optional but vital to safeguarding India's national sovereignty. Enterprise Adoption A consortium of 15 …

Unmasking India's Crypto Projects Trusted by 100 Million People
1 year, 7 months ago

Unmasking India's Crypto Projects Trusted by 100 Million People

Deccan Chronicle  

New Delhi: As the crypto decade unfolds, India's blockchain landscape is witnessing the rise of crypto titans—projects that are pushing boundaries, transforming industries, and leaving an indelible mark on the digital realm. CoinSwitch Trillioner Coin : Pioneering India's Crypto Journey, Trillioner Coin takes center stage with an astounding 2000% surge in price. As the Indian arm of the world's second-largest …

Rising Stars of India's Crypto Revolution: Top 5 Crypto Projects to Trust in 2023
1 year, 7 months ago

Rising Stars of India's Crypto Revolution: Top 5 Crypto Projects to Trust in 2023

ABP News  

New Delhi, August 21: A revolution is underway in India's crypto landscape, and at its helm is a group of rising stars — projects that are reimagining traditional systems and catalyzing a paradigm shift in the nation's digital transformation. As the Indian counterpart of the world's second-largest derivatives exchange, Bybit India entices high-value traders, cementing its essential role in India's …

Crypto Tax Compliance Solution for Investors: Giottus, TaxNodes Join Hands
1 year, 10 months ago

Crypto Tax Compliance Solution for Investors: Giottus, TaxNodes Join Hands

News 18  

Crypto assets platform Giottus and leading tax solutions provider TaxNodes have entered into a strategic partnership to provide a safe and reliable solution to customers trading and investing in virtual digital assets. Giottus CEO Vikram Subburaj said, “Giottus is delighted to partner with TaxNodes on our mission to strengthen tax compliance in the industry. By leveraging TaxNodes’ expertise and advanced …

Crypto issue requires immediate attention, says FM Sitharaman
1 year, 11 months ago

Crypto issue requires immediate attention, says FM Sitharaman

The Hindu  

Issues related to crypto assets require immediate attention and the response of the G20 has to ensure that they do not lose any potential benefits while protecting economies from harm, Union Finance Minister Nirmala Sitharaman has said. Ms. Sitharaman was part of a brainstorming session on "Macrofinancial Implications of Crypto Assets" with G20 finance ministers and central bank governors at …

Opinion: It’s a miracle most Americans pay their taxes. Crypto could upend that norm
1 year, 11 months ago

Opinion: It’s a miracle most Americans pay their taxes. Crypto could upend that norm

LA Times  

One of the many questions raised by cryptocurrency is how to tax this new world of digital assets. Effective crypto taxation promises substantial revenues: The new broker-dealer reporting requirements alone could raise an estimated $28 billion within the next decade. One explanation is tax morale: the nonrational reasons that people choose to file and pay, including social norms and the …

Understanding the current state of crypto assets in India
1 year, 11 months ago

Understanding the current state of crypto assets in India

Live Mint  

It is a sweeping wave for some and a conundrum for others but crypto is the new buzzword in the world of investment finance. On the whole, the government seems to be accepting crypto and the underlying blockchain technology rather than casting them away as ‘risky’ or even ‘banning’ them. Banking is still not a breeze given RBI’s concerns The …

TDS on Cryptos: Know How Much Govt Has Earned So Far
1 year, 11 months ago

TDS on Cryptos: Know How Much Govt Has Earned So Far

News 18  

Virtual digital assets, including cryptocurrencies, attract 1 per cent of tax deducted at source. Finance Minister Nirmala Sitharaman in the Union Budget 2022 had introduced the provision of tax deducted at source at 1 per cent levied on payments made on transfer of virtual assets. According to a CBDT notification, “The new section mandates a person, who is responsible for …

Navigating the complexities of crypto taxation in India
2 years ago

Navigating the complexities of crypto taxation in India

Live Mint  

There is an adage which encapsulates the process of taxation, and it goes thus: the only two things certain in life are death and taxes. Navigating crypto from a tax angle We believe that Indian crypto investors can become tax compliant and plan their investments better by following certain principles. Building a crypto portfolio: India’s crypto tax regime does not …

Crypto Regulation: India Collaborating With G20 Countries To Formulate Global Policy
2 years ago

Crypto Regulation: India Collaborating With G20 Countries To Formulate Global Policy

ABP News  

Minister of State for Finance Pankaj Chaudhary on Monday informed the Parliament that India is working with G20 nations to establish a globally coordinated policy on crypto assets. Finance Minister Nirmala Sitharaman recently announced that there will be additional discussions on crypto assets during the IMF-World Bank Spring Meetings in April, to be held in Washington. Additionally, in July, the …

Crypto at G20 Summit: India recommends a joint technical paper by IMF & FSB on regulation
2 years, 1 month ago

Crypto at G20 Summit: India recommends a joint technical paper by IMF & FSB on regulation

India Today  

India has proposed a joint technical paper by the IMF and the FSB for help in the formulation of a coordinated and comprehensive policy approach to crypto assets. Both the above agencies are expected to present their papers in October this year, i.e., during the 4th G20 Finance Ministers and Central Bank Governors Meet, stated the Ministry of Finance, following …

India Asks IMF, FSB To Prepare Technical Paper On Regulating Crypto
2 years, 1 month ago

India Asks IMF, FSB To Prepare Technical Paper On Regulating Crypto

News 18  

India, which is currently holding G20 Presidency, has asked the IMF and Financial Stability Board to jointly prepare a technical paper on crypto assets, which could be used in formulating a coordinated and comprehensive policy to regulate them. In their entirety, the IMF’s discussion paper, the policy seminar and the joint IMF-FSB paper are expected to integrate the policy questions …

India likely working on roadmap to regulate cryptocurrencies at G-20
2 years, 1 month ago

India likely working on roadmap to regulate cryptocurrencies at G-20

Live Mint  

India is likely to introduce a roadmap for regulating virtual assets such as cryptocurrencies. On Thursday, Economic Affairs Secretary Ajay Seth in an interview said that the government is working with Financial Stability Board to at least build a policy for crypto assets along with a regulatory framework. He added, "we are also working with the FSB and the idea …

Budget 2023 Updates: FM offers no relief for crypto industry as 30% flat tax continues
2 years, 1 month ago

Budget 2023 Updates: FM offers no relief for crypto industry as 30% flat tax continues

India Today  

The 2023 Union Budget has brought with it great news for the middle class with a revised tax slab offering income tax concessions to the middle class. Finance Minister Nirmala Sitharaman announced a flat 30 percent tax on crypto in the previous budget which wasn't revised during this year’s session. Not good for our country and those building in this …

Budget 2023: Tax exemptions, subsidies, and other financial support needed to support crypto sector
2 years, 1 month ago

Budget 2023: Tax exemptions, subsidies, and other financial support needed to support crypto sector

Firstpost  

The crypto sector in India needs urgent support from regulators to create a business-friendly environment for the growth of blockchain companies. Allow investors to offset, carry forward losses To provide a fair playing field for crypto assets, allowing crypto investors to offset and carry forward their losses, as well as raising the TDS exemption limit to a reasonable level, would …

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