India Won't Legalize or Ban Crypto at This Stage - Finance Minister - Bitcoin.com
Kevin Helms reports in bitcoin.com that "India’s 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 announced 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 India’s 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. Banning or not banning will come subsequently, when consultations give me input."
Source credit and full story - https://news.bitcoin.com/india-wont-legalize-or-ban-crypto-at-this-stage-finance-minister-confirms/
It is really difficult for everyone in the Indian government to decide about crypto and blockchain. It is so alien to their way of thinking and Modus Operandi. They are all for complete centralization and power-grabbing from whatever little power is left with the states. Now crypto has become a new source of income with 30% tax for the central government, they will be looking for a having the cake and eating it at the same time solution!
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