India Wont Legalize or Ban Crypto at This Stage, Finance Minister Confirms – Regulation Bitcoin News - BitcoinEthereumNews.com
Indias finance minister has revealed the current status of crypto policy in India, including whether crypto will be legalized or baned in the country. The question surrounding the legitimacy of cryptocurrency was raised in parliament after the government anounced that income from crypto transactions will be taxed at 30%.n Finance Minister Reveals Status of Crypto Policy in India Indias finance minister, Nirmala Sitharaman, clarified on Friday that the government has not made a decision on whether to legalize or ban cryptocurrency. During her Budget speech last week, the finance minister anounced that income from cryptocurrency will be taxed at 30%. The taxation plan has made many believe that the Indian government has legitimized cryptocurrency. Replying to questions raised during an ongoing Budget discussion in Rajya Sabha, the upper house of Indias parliament, by Congress member Chhaya Verma on the legitimacy of cryptocurrency via taxation, the finance minister was quoted as saying: I am not going to legalize it or ban it at this stage. Baning or not baning will come subsequently, when consultations give me input. She further emphasized that whether cryptocurrency is “legitimate or illegitimate, it is a different question, but I will tax because it is a sovereign right to tax,” PTI reported. The Indian