India's finance minister has clarified that the government is not going to ban or legalize cryptocurrency at this time. crypto bitcoin $BTC
India’s finance minister has revealed the current status of crypto policy in India, including whether crypto will be legalized or banned in the country. The question surrounding the legitimacy of cryptocurrency was raised in parliament after the government announced that income from crypto transactions will be taxed at 30%.India’s finance minister, Nirmala Sitharaman, clarified on Friday that the government has not made a decision on whether to legalize or ban 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: 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.
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