India will Tax Cryptocurrency Trade

India will tax cryptocurrency trade. The government has started preparations for the issue.

India has started preparations to tax the crypto trade and ecosystem in the country. The Indian government wants to tax the cryptocurrency trade and ecosystem, which has been growing in popularity for a while in the country. While the country's national tax office plans to tax crypto exchanges and commerce, the government considers that any income-generating activity should pay taxes. The cabinet has started preparations for the bill on cryptocurrencies. Indian Economy Minister Nirmala Sitharaman clarified her stance on cryptocurrency, saying that while the government is not closing all options, adequate permissions will be given to people to experiment with blockchain, bitcoin and cryptocurrency.