“For example if it is a commercial transaction then appropriate GST (good and service tax) guidelines can be levied. If it is an investment, capital gains tax can be levied. If someone is trading crypto very actively, then they can file for taxes as a business. And if at all, a foreign transaction is involved it should be reported to RBI (the Reserve Bank of India, the central … [Read more...] about India’s Crypto Industry Awaits New Budget
Budget
Industry Body for Indian Startups Seeks Crypto Rules in Coming Budget Session of Parliament
“It is critical for the Union Budget to clearly lay down taxation clarity around crypto assets by formally naming them in tax laws,” said a letter to India’s Finance Minister by IndiaTech.org, an industry body of startups including crypto exchanges. The group plays an active part in discussions about policy framework to regulate crypto with government and India’s central bank, … [Read more...] about Industry Body for Indian Startups Seeks Crypto Rules in Coming Budget Session of Parliament
India Likely to Regulate Crypto, Not Ban It, in Upcoming Budget: Report
The Indian government is likely to regulate cryptocurrencies in its upcoming budget in February, moving away from its earlier approach of seeking to impose an outright ban, according to a Business Today report. A law covering cryptocurrencies will most likely be discussed in the country’s next general budget, the report said, citing Indian Finance Ministry officials.The … [Read more...] about India Likely to Regulate Crypto, Not Ban It, in Upcoming Budget: Report
Bitcoin tackles $40,000 as Biden unveils new $6 trillion federal spending budget
The money printer is going brrr in the United States. Bitcoin (BTC) may get a boost to finally clear $40,000 at the expense of the U.S. dollar as United States President Joe Biden’s new $6 trillion federal spending budget proposal is unveiled. On May 28, the United States president will announce the massive fiscal policy, the largest since the Second World War, to ensure … [Read more...] about Bitcoin tackles $40,000 as Biden unveils new $6 trillion federal spending budget