What about India? I've heard rumors that the crypto capital gains tax rate in the country is high. While this is nothing more than an attempt to discourage crypto investment like you've said, people will always find a way to trade "under the shadows".
India was also among the countries who charged very high tax to the crypto users. they charged like 31%, which is very high. Many indians were also complaining about how high tax in their country, but their gov didn't care.
I think it's more of their government trying to discourage their population to not used crypto at all that's why the high tax. And then a couple of news about their local exchanges being hacked? The image of crypto is not good in India.
Japan is one of the highest if not the highest crypto taxes so far. Yes, they have adopted it many years ago, but at the same time, it also reflect how their government is very strict on it as compare to other countries wherein there are exemptions when you hold crypto for long term at least > one year.
taxation in india is a theft
apart from the income tax which has different slabs
crypto investments and gambling winnings are taxed at 30%
and even if u don't pay the income tax there is gst (goods & services tax) which is
appliesapplied on all the products one purchases
and therefore, everyone in the country has to pay tax one way or another
which is really difficult for the middle class who are already struggling with unemployment and inflation