Another statement from the same Rajya Sabha MP from the ruling party might give us an idea as to why the government has imposed such a harsh tax system for crypto transactions. This interview was published two days back and in this article, he has clearly stated that the government of India will make life hell for crypto investors.
Read the articles here.
It does not mean that the government has taken this decision just because of some low IQ MP thinks investing in cryptocurrency is gambling.
Sushil Kumar is a so called M.Sc in Botany yet all his tweets are in Hindi and he's the finance minister of Bihar. I wonder if his degree is legit.
If only he would have read Mastering bitcoin now that it's available in hind, then he would have understood why it is a necessity and not gambling.