India is one of those countries with stringent laws around cryptocurrencies and their adoption. The government first recognized and imposed taxes on digital assets starting from April 2022. Even after losing considerable trading volume following the tax rules, the Indian government hasn’t lowered hefty taxes on crypto income. During the
The FSR 2022 records various statements highlighting the risks in the crypto market. 1% tax on crypto transactions reduced the volume of trading to 50% quantity. By June end, the Reserve Bank of India (RBI) released its annual financial stability report (FSR) 2022, where the RBI governor warned everyone stating
Indian traders have lost around ₹1000 crores to phishing exchange sites. A panel meeting is planned with the financial authorities of the nation next week. The buying trend presently prevailing in the crypto market is welcoming to both genuine and fraudulent individuals. Cheaters and scammers are taking advantage of investors’
The meeting proposed to levy a 28 percent GST on cryptocurrencies. India plans to implement reverse charge GST on users who use overseas crypto sites. On Tuesday India’s Goods and Services Tax (GST) Council is expected to discuss rate rationalization and digital assets, including cryptocurrency, at its upcoming meeting in
