Recently India has passed a crypto bill to tax crypto income by 30% but at the same time claiming that taxing cryptos doesn't make them legal and states it's country's sovereign right to tax crypto and this atrocity doesn't stop here as they have mentioned that the decision about banning crypto or legalizing it will taken after further consultation.
Can they tax something which is not legal? How can a country tax something which is not legal? Moreover they still have plans of banning crypto since they are not clear about their stands on legalization. Not sure if it's an attempt to unofficially break the crypto market in India or what's going on.
Share your thoughts on this.
Source:
https://www.businessinsider.in/cryptocurrency/news/taxing-cryptocurrencies-does-not-give-them-legal-status-clarifies-indias-finance-minister/articleshow/89500097.cmsWhen will we be stopped tackling this damn country? for all my years here in crypto .. India had been in the news here and there about their inconsistent stand in crypto currency.
I think we should stop mentioning this country until they find the right way in treating this currencies.
Now here they are putting confusing Bill? are they playing around us here?