I do not think that 18 percent of taxation on income in the crypto currency is very large. France recently lowered the tax from 49 percent to 13. This was indeed a high tax. In Japan, at about this percentage, taxation also starts and, depending on the taxable person, also reaches about 49 percent. Therefore, such a taxation can not be called large and exorbitant.
Specificity of taxation in India is that it is introduced from July 1, when the Reserve Bank's instruction to other banks not to carry out any operations in the crypto-currency will be introduced simultaneously.