SlideShare a Scribd company logo
IS CRYPTOCURRENCY LEGAL
IN INDIA?
IN 2018, RBI BANNED
CRYPTOCURRENCY.
In March 2020, the Supreme Court struck down
the RBI circular.
In January 2021, the Indian government
proposed a bill to issue an official digital
currency by the RBI.
Now, Cryptocurrency is considered a digital
asset.
A tax rate of 30% has been imposed on it.
LEGAL POSITION OF
CRYPTOCURRENCY IN
INDIA
Cryptocurrencies are considered
virtual digital assets and are
taxed as such. The Indian
government recognizes that
these assets are part of the
global and domestic economy
and cannot be banned outright.
However, a tax rate of 30% has been
imposed on cryptocurrencies in
India as announced in the 2022
union budget. Despite the taxation,
cryptocurrency remains without a
clearly defined legal framework for
its use and mining in India.
The lack of rules and regulations
leaves traders and investors in the
cryptocurrency market waiting for the
government to release a bill outlining
the specifics of how transactions and
mining of cryptocurrencies should be
conducted in India.
WWW.AZADPARINDAY.COM

More Related Content

Similar to cryptocurrency_azadparinday.com.pdf

Impact of COVID19 on Real Estate in India
Impact of COVID19 on Real Estate in IndiaImpact of COVID19 on Real Estate in India
Impact of COVID19 on Real Estate in India
Sam Ghosh
 
Daily Newsletter 02.10.2020
Daily Newsletter 02.10.2020Daily Newsletter 02.10.2020
Daily Newsletter 02.10.2020
CA PRADEEP GOYAL
 
INDIA ASSAULTS CASH AGAIN, 100% FINE FOR CASH USE WILL BOOST BITCOIN PRICE
INDIA ASSAULTS CASH AGAIN, 100% FINE FOR CASH USE WILL BOOST BITCOIN PRICEINDIA ASSAULTS CASH AGAIN, 100% FINE FOR CASH USE WILL BOOST BITCOIN PRICE
INDIA ASSAULTS CASH AGAIN, 100% FINE FOR CASH USE WILL BOOST BITCOIN PRICE
Steven Rhyner
 
Legality of bitcoins by Prashant Mali
Legality of bitcoins by Prashant MaliLegality of bitcoins by Prashant Mali
Doing Business of Cryptocurrency w.r.t. India Legal Perspective
Doing Business of Cryptocurrency w.r.t. India Legal PerspectiveDoing Business of Cryptocurrency w.r.t. India Legal Perspective
Doing Business of Cryptocurrency w.r.t. India Legal Perspective
EquiCorp Associates
 
Bitcoin
BitcoinBitcoin
Is bitcoin illegal in India ( March,2017)
Is bitcoin illegal in India ( March,2017)Is bitcoin illegal in India ( March,2017)
Is bitcoin illegal in India ( March,2017)
Riddhi Pratim Dutta,Advocate & Consultant
 
Rizki_Dan_Sopi.pptx
Rizki_Dan_Sopi.pptxRizki_Dan_Sopi.pptx
Rizki_Dan_Sopi.pptx
RizkiJuliansyah6
 
Demonetization
DemonetizationDemonetization
Demonetization
ajitha mukesh
 
Understanding Cryptocurrency Regulation in India: 2024
Understanding Cryptocurrency Regulation in India: 2024Understanding Cryptocurrency Regulation in India: 2024
Understanding Cryptocurrency Regulation in India: 2024
Finlaw Consultancy Pvt Ltd
 
News updates in banking sector
News updates in banking sectorNews updates in banking sector
News updates in banking sector
knavdeep
 
SEBI, MCA, Taxation Updates
SEBI, MCA, Taxation UpdatesSEBI, MCA, Taxation Updates
SEBI, MCA, Taxation Updates
Acquisory Consulting LLP
 
IIFL .docx
IIFL .docxIIFL .docx
Hdfc ppt
Hdfc pptHdfc ppt
Hdfc ppt
RishikaGupta66
 
Newsletter on daily professional updates- 19/03/2020
Newsletter on daily professional updates- 19/03/2020Newsletter on daily professional updates- 19/03/2020
Newsletter on daily professional updates- 19/03/2020
CA PRADEEP GOYAL
 
GST Applicability on Non-Banking Financial Companies (NBFCs) in India
GST Applicability on Non-Banking Financial Companies (NBFCs) in IndiaGST Applicability on Non-Banking Financial Companies (NBFCs) in India
GST Applicability on Non-Banking Financial Companies (NBFCs) in India
Enterslice
 
Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ...
Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ...Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ...
Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ...
Bivas Chatterjee
 
Corporate Compliance Calendar February 2020
Corporate Compliance Calendar   February 2020Corporate Compliance Calendar   February 2020
Corporate Compliance Calendar February 2020
Lalit Rajput
 
Corporate Compliance Calendar June 2020
Corporate Compliance Calendar   June 2020Corporate Compliance Calendar   June 2020
Corporate Compliance Calendar June 2020
Lalit Rajput
 
Newsletter on daily professional updates- 08/04/2020
Newsletter on daily professional updates- 08/04/2020Newsletter on daily professional updates- 08/04/2020
Newsletter on daily professional updates- 08/04/2020
CA PRADEEP GOYAL
 

Similar to cryptocurrency_azadparinday.com.pdf (20)

Impact of COVID19 on Real Estate in India
Impact of COVID19 on Real Estate in IndiaImpact of COVID19 on Real Estate in India
Impact of COVID19 on Real Estate in India
 
Daily Newsletter 02.10.2020
Daily Newsletter 02.10.2020Daily Newsletter 02.10.2020
Daily Newsletter 02.10.2020
 
INDIA ASSAULTS CASH AGAIN, 100% FINE FOR CASH USE WILL BOOST BITCOIN PRICE
INDIA ASSAULTS CASH AGAIN, 100% FINE FOR CASH USE WILL BOOST BITCOIN PRICEINDIA ASSAULTS CASH AGAIN, 100% FINE FOR CASH USE WILL BOOST BITCOIN PRICE
INDIA ASSAULTS CASH AGAIN, 100% FINE FOR CASH USE WILL BOOST BITCOIN PRICE
 
Legality of bitcoins by Prashant Mali
Legality of bitcoins by Prashant MaliLegality of bitcoins by Prashant Mali
Legality of bitcoins by Prashant Mali
 
Doing Business of Cryptocurrency w.r.t. India Legal Perspective
Doing Business of Cryptocurrency w.r.t. India Legal PerspectiveDoing Business of Cryptocurrency w.r.t. India Legal Perspective
Doing Business of Cryptocurrency w.r.t. India Legal Perspective
 
Bitcoin
BitcoinBitcoin
Bitcoin
 
Is bitcoin illegal in India ( March,2017)
Is bitcoin illegal in India ( March,2017)Is bitcoin illegal in India ( March,2017)
Is bitcoin illegal in India ( March,2017)
 
Rizki_Dan_Sopi.pptx
Rizki_Dan_Sopi.pptxRizki_Dan_Sopi.pptx
Rizki_Dan_Sopi.pptx
 
Demonetization
DemonetizationDemonetization
Demonetization
 
Understanding Cryptocurrency Regulation in India: 2024
Understanding Cryptocurrency Regulation in India: 2024Understanding Cryptocurrency Regulation in India: 2024
Understanding Cryptocurrency Regulation in India: 2024
 
News updates in banking sector
News updates in banking sectorNews updates in banking sector
News updates in banking sector
 
SEBI, MCA, Taxation Updates
SEBI, MCA, Taxation UpdatesSEBI, MCA, Taxation Updates
SEBI, MCA, Taxation Updates
 
IIFL .docx
IIFL .docxIIFL .docx
IIFL .docx
 
Hdfc ppt
Hdfc pptHdfc ppt
Hdfc ppt
 
Newsletter on daily professional updates- 19/03/2020
Newsletter on daily professional updates- 19/03/2020Newsletter on daily professional updates- 19/03/2020
Newsletter on daily professional updates- 19/03/2020
 
GST Applicability on Non-Banking Financial Companies (NBFCs) in India
GST Applicability on Non-Banking Financial Companies (NBFCs) in IndiaGST Applicability on Non-Banking Financial Companies (NBFCs) in India
GST Applicability on Non-Banking Financial Companies (NBFCs) in India
 
Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ...
Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ...Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ...
Cryptocurrency News India : Is Cryptocurrency Legal In INDIA ? SUPREME COURT ...
 
Corporate Compliance Calendar February 2020
Corporate Compliance Calendar   February 2020Corporate Compliance Calendar   February 2020
Corporate Compliance Calendar February 2020
 
Corporate Compliance Calendar June 2020
Corporate Compliance Calendar   June 2020Corporate Compliance Calendar   June 2020
Corporate Compliance Calendar June 2020
 
Newsletter on daily professional updates- 08/04/2020
Newsletter on daily professional updates- 08/04/2020Newsletter on daily professional updates- 08/04/2020
Newsletter on daily professional updates- 08/04/2020
 

Recently uploaded

PRODUCT LISTING OPTIMIZATION PRESENTATION.pptx
PRODUCT LISTING OPTIMIZATION PRESENTATION.pptxPRODUCT LISTING OPTIMIZATION PRESENTATION.pptx
PRODUCT LISTING OPTIMIZATION PRESENTATION.pptx
christinelarrosa
 
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
manji sharman06
 
Discover the Unseen: Tailored Recommendation of Unwatched Content
Discover the Unseen: Tailored Recommendation of Unwatched ContentDiscover the Unseen: Tailored Recommendation of Unwatched Content
Discover the Unseen: Tailored Recommendation of Unwatched Content
ScyllaDB
 
Christine's Supplier Sourcing Presentaion.pptx
Christine's Supplier Sourcing Presentaion.pptxChristine's Supplier Sourcing Presentaion.pptx
Christine's Supplier Sourcing Presentaion.pptx
christinelarrosa
 
A Deep Dive into ScyllaDB's Architecture
A Deep Dive into ScyllaDB's ArchitectureA Deep Dive into ScyllaDB's Architecture
A Deep Dive into ScyllaDB's Architecture
ScyllaDB
 
Lee Barnes - Path to Becoming an Effective Test Automation Engineer.pdf
Lee Barnes - Path to Becoming an Effective Test Automation Engineer.pdfLee Barnes - Path to Becoming an Effective Test Automation Engineer.pdf
Lee Barnes - Path to Becoming an Effective Test Automation Engineer.pdf
leebarnesutopia
 
What is an RPA CoE? Session 2 – CoE Roles
What is an RPA CoE?  Session 2 – CoE RolesWhat is an RPA CoE?  Session 2 – CoE Roles
What is an RPA CoE? Session 2 – CoE Roles
DianaGray10
 
Leveraging the Graph for Clinical Trials and Standards
Leveraging the Graph for Clinical Trials and StandardsLeveraging the Graph for Clinical Trials and Standards
Leveraging the Graph for Clinical Trials and Standards
Neo4j
 
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor Ivaniuk
"Frontline Battles with DDoS: Best practices and Lessons Learned",  Igor Ivaniuk"Frontline Battles with DDoS: Best practices and Lessons Learned",  Igor Ivaniuk
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor Ivaniuk
Fwdays
 
Mutation Testing for Task-Oriented Chatbots
Mutation Testing for Task-Oriented ChatbotsMutation Testing for Task-Oriented Chatbots
Mutation Testing for Task-Oriented Chatbots
Pablo Gómez Abajo
 
AWS Certified Solutions Architect Associate (SAA-C03)
AWS Certified Solutions Architect Associate (SAA-C03)AWS Certified Solutions Architect Associate (SAA-C03)
AWS Certified Solutions Architect Associate (SAA-C03)
HarpalGohil4
 
An All-Around Benchmark of the DBaaS Market
An All-Around Benchmark of the DBaaS MarketAn All-Around Benchmark of the DBaaS Market
An All-Around Benchmark of the DBaaS Market
ScyllaDB
 
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge GraphGraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
Neo4j
 
Day 2 - Intro to UiPath Studio Fundamentals
Day 2 - Intro to UiPath Studio FundamentalsDay 2 - Intro to UiPath Studio Fundamentals
Day 2 - Intro to UiPath Studio Fundamentals
UiPathCommunity
 
Session 1 - Intro to Robotic Process Automation.pdf
Session 1 - Intro to Robotic Process Automation.pdfSession 1 - Intro to Robotic Process Automation.pdf
Session 1 - Intro to Robotic Process Automation.pdf
UiPathCommunity
 
AppSec PNW: Android and iOS Application Security with MobSF
AppSec PNW: Android and iOS Application Security with MobSFAppSec PNW: Android and iOS Application Security with MobSF
AppSec PNW: Android and iOS Application Security with MobSF
Ajin Abraham
 
Y-Combinator seed pitch deck template PP
Y-Combinator seed pitch deck template PPY-Combinator seed pitch deck template PP
Y-Combinator seed pitch deck template PP
c5vrf27qcz
 
Biomedical Knowledge Graphs for Data Scientists and Bioinformaticians
Biomedical Knowledge Graphs for Data Scientists and BioinformaticiansBiomedical Knowledge Graphs for Data Scientists and Bioinformaticians
Biomedical Knowledge Graphs for Data Scientists and Bioinformaticians
Neo4j
 
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance PanelsNorthern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving
 
[OReilly Superstream] Occupy the Space: A grassroots guide to engineering (an...
[OReilly Superstream] Occupy the Space: A grassroots guide to engineering (an...[OReilly Superstream] Occupy the Space: A grassroots guide to engineering (an...
[OReilly Superstream] Occupy the Space: A grassroots guide to engineering (an...
Jason Yip
 

Recently uploaded (20)

PRODUCT LISTING OPTIMIZATION PRESENTATION.pptx
PRODUCT LISTING OPTIMIZATION PRESENTATION.pptxPRODUCT LISTING OPTIMIZATION PRESENTATION.pptx
PRODUCT LISTING OPTIMIZATION PRESENTATION.pptx
 
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
Call Girls Chandigarh🔥7023059433🔥Agency Profile Escorts in Chandigarh Availab...
 
Discover the Unseen: Tailored Recommendation of Unwatched Content
Discover the Unseen: Tailored Recommendation of Unwatched ContentDiscover the Unseen: Tailored Recommendation of Unwatched Content
Discover the Unseen: Tailored Recommendation of Unwatched Content
 
Christine's Supplier Sourcing Presentaion.pptx
Christine's Supplier Sourcing Presentaion.pptxChristine's Supplier Sourcing Presentaion.pptx
Christine's Supplier Sourcing Presentaion.pptx
 
A Deep Dive into ScyllaDB's Architecture
A Deep Dive into ScyllaDB's ArchitectureA Deep Dive into ScyllaDB's Architecture
A Deep Dive into ScyllaDB's Architecture
 
Lee Barnes - Path to Becoming an Effective Test Automation Engineer.pdf
Lee Barnes - Path to Becoming an Effective Test Automation Engineer.pdfLee Barnes - Path to Becoming an Effective Test Automation Engineer.pdf
Lee Barnes - Path to Becoming an Effective Test Automation Engineer.pdf
 
What is an RPA CoE? Session 2 – CoE Roles
What is an RPA CoE?  Session 2 – CoE RolesWhat is an RPA CoE?  Session 2 – CoE Roles
What is an RPA CoE? Session 2 – CoE Roles
 
Leveraging the Graph for Clinical Trials and Standards
Leveraging the Graph for Clinical Trials and StandardsLeveraging the Graph for Clinical Trials and Standards
Leveraging the Graph for Clinical Trials and Standards
 
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor Ivaniuk
"Frontline Battles with DDoS: Best practices and Lessons Learned",  Igor Ivaniuk"Frontline Battles with DDoS: Best practices and Lessons Learned",  Igor Ivaniuk
"Frontline Battles with DDoS: Best practices and Lessons Learned", Igor Ivaniuk
 
Mutation Testing for Task-Oriented Chatbots
Mutation Testing for Task-Oriented ChatbotsMutation Testing for Task-Oriented Chatbots
Mutation Testing for Task-Oriented Chatbots
 
AWS Certified Solutions Architect Associate (SAA-C03)
AWS Certified Solutions Architect Associate (SAA-C03)AWS Certified Solutions Architect Associate (SAA-C03)
AWS Certified Solutions Architect Associate (SAA-C03)
 
An All-Around Benchmark of the DBaaS Market
An All-Around Benchmark of the DBaaS MarketAn All-Around Benchmark of the DBaaS Market
An All-Around Benchmark of the DBaaS Market
 
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge GraphGraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
GraphRAG for LifeSciences Hands-On with the Clinical Knowledge Graph
 
Day 2 - Intro to UiPath Studio Fundamentals
Day 2 - Intro to UiPath Studio FundamentalsDay 2 - Intro to UiPath Studio Fundamentals
Day 2 - Intro to UiPath Studio Fundamentals
 
Session 1 - Intro to Robotic Process Automation.pdf
Session 1 - Intro to Robotic Process Automation.pdfSession 1 - Intro to Robotic Process Automation.pdf
Session 1 - Intro to Robotic Process Automation.pdf
 
AppSec PNW: Android and iOS Application Security with MobSF
AppSec PNW: Android and iOS Application Security with MobSFAppSec PNW: Android and iOS Application Security with MobSF
AppSec PNW: Android and iOS Application Security with MobSF
 
Y-Combinator seed pitch deck template PP
Y-Combinator seed pitch deck template PPY-Combinator seed pitch deck template PP
Y-Combinator seed pitch deck template PP
 
Biomedical Knowledge Graphs for Data Scientists and Bioinformaticians
Biomedical Knowledge Graphs for Data Scientists and BioinformaticiansBiomedical Knowledge Graphs for Data Scientists and Bioinformaticians
Biomedical Knowledge Graphs for Data Scientists and Bioinformaticians
 
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance PanelsNorthern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
Northern Engraving | Modern Metal Trim, Nameplates and Appliance Panels
 
[OReilly Superstream] Occupy the Space: A grassroots guide to engineering (an...
[OReilly Superstream] Occupy the Space: A grassroots guide to engineering (an...[OReilly Superstream] Occupy the Space: A grassroots guide to engineering (an...
[OReilly Superstream] Occupy the Space: A grassroots guide to engineering (an...
 

cryptocurrency_azadparinday.com.pdf

  • 2. IN 2018, RBI BANNED CRYPTOCURRENCY. In March 2020, the Supreme Court struck down the RBI circular. In January 2021, the Indian government proposed a bill to issue an official digital currency by the RBI. Now, Cryptocurrency is considered a digital asset. A tax rate of 30% has been imposed on it.
  • 4. Cryptocurrencies are considered virtual digital assets and are taxed as such. The Indian government recognizes that these assets are part of the global and domestic economy and cannot be banned outright.
  • 5. However, a tax rate of 30% has been imposed on cryptocurrencies in India as announced in the 2022 union budget. Despite the taxation, cryptocurrency remains without a clearly defined legal framework for its use and mining in India.
  • 6. The lack of rules and regulations leaves traders and investors in the cryptocurrency market waiting for the government to release a bill outlining the specifics of how transactions and mining of cryptocurrencies should be conducted in India.