India to 'Unban' Crypto In a speech discussing the budget fo | MappleTradex™Crypto Signals

India to "Unban" Crypto

In a speech discussing the budget for 2022, Indian Finance Minister Nirmala Sitharaman repeatedly mentioned the country's policy towards cryptocurrencies. As expected, there is no longer talk of a total ban on digital assets, but rather regulation.

The Indian Finance Minister said that due to the scale and frequency of cryptocurrency transactions, it was crucial to provide a specific tax regime for the taxation of this sector.

Thus, Indian citizens will now have to pay a 30% tax on all their income from the "transfer" of digital assets. In other words, this includes the sale and exchange of a cryptocurrency with a third party.