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.
Plan on banning what ? they already said that crypto is not legalized on their country, that is indeed confusing or maybe what they mean by not legalizing is like not adopting btc like what El Salvador did where they adopt btc as a legal tender or as a form of currency.
What India did there is same to what most countries are doing where they also accept crypto but not totally. taxing on cryptos do also happens on other countries but I think their tax rates are not high as on India. 30 percent on tax is not a joke, what did their government eat when they are planning this ? or are they simply greedy and wants more from the crypto users .