Yet another statement by a top Indian official suggests that regulatory uncertainty around the status of digital assets in the country will persist in the near term.
Responding to the general discussion of the 2022–23 Union Budget at Rajya Sabha, the upper chamber of India’s bicameral parliament, finance minister Nirmala Sitharamanthat she was not going to “legalize or ban” cryptocurrency at this moment. The minister added that “Banning or not banning will come subsequently,” when the ministry reviews input from consultations.
Sitharaman also mentioned that the state has “the sovereign right to tax” income that citizens derive from cryptocurrency transactions. Furthermore, the government’s capacity to levy crypto taxes is separate from the issue of legally recognizing the asset class.
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I think they will regulate it or outright ban it tho. Not a good time for users in India
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