India Plans to Introduce Bitcoin Tax

According to some reports, Indian government officials may tax future crypto transactions.

According to some reports, Indian government officials may tax future crypto transactions.
“The tax department prefers to tax cryptocurrency exchanges and trading in the country. However, this does not mean that they will be categorized as a valid asset class.”
Shaktikanta Das, head of the Reserve Bank of India-RBI, said:
“We have great concerns about the cryptocurrency that we have escalated to the government. When it comes to advice to investors, central banks do not give any investment advice. It is up to each investor to do their own valuation, do their own analysis and be very careful about their own investments.”
In short, India is expected to introduce taxation on cryptocurrencies and crypto exchanges by making regulations in the near future.