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India is preparing to release a significant consultation paper on cryptocurrency regulations, expected between September and October 2024. This initiative, led by the Department of Economic Affairs (DEA), aims to gather input from industry stakeholders to shape the country's crypto policy. The move comes as India seeks to align with the G20's global strategy on digital assets. Currently, the country imposes a 30% tax on unrealized gains and a 1% TDS on cryptocurrency transactions. The September consultation paper is anticipated to address key concerns and provide greater regulatory clarity for the crypto market in India.
The Indian government is expected to release a consultation paper on #cryptocurrency regulations between September and October. https://t.co/bJGasBnHu3
INDIA’S ABOUT TO DROP SOME REGULATION ALPHA ON CRYPTO India’s about to drop a consultation paper between September and October 2024, looking to crowdsource some vibes on crypto rules. This is them syncing up with the global G20 playbook while still grinding through their own… https://t.co/XpSwGbMTzm
INDIA’S NEXT CRYPTO MOVE: REGULATION OR MORE RED TAPE? India’s gearing up to release a crypto consultation paper between September and October 2024. They’re aligning with the G20’s global strategy, but the heavy-handed 30% tax and 1% TDS still weigh down the market. The paper… https://t.co/SnZpbaq6B7