Cryptocurrency has always been considered a threat to financial stability in India.

Though cryptocurrency has not received a legal tender status in India yet,

Government indeed see some potential in it that's why they levied taxes on it instead of putting BAN.

To control the growing investment in crypto, government has levied 30% taxes on crypto transfer.

And 1% TDS on every transaction related to crypto selling.

Crypto exchange platforms noted heavy drop in crypto trading volume after this laws came into an effect.

This highly imposed taxes on crypto may sluggish the cryptocurrency growth in India.

But there's a silver lining as well, India haven't banned crypto trading.

Government is figuring out a way to make cryptocurrency work in the most benefited way for everyone.

Currently Cryptocurrency does not hold any intrinsic value in India.

That means you can not buy any goods using crypto's in India.

Crypto trading is legal in India. You can buy, sell or trade bitcoin, Ethereum, & other crypto's here.

Government bodies also looking forward to regulate cryptocurrency.

Find out more about CBDC India and cryptocurrency