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Herbert R. Sim
@herbertrsim

1,358,663 followers

What a sight to behold 😍 The Gateway of India in Mumbai 🇮🇳 . Cryptocurrency regulations different from country to country. . As of today, cryptocurrencies as a payment medium in India are not regulated by any central authority. . There are no rules and regulations or any guidelines laid down for settling disputes while dealing with cryptocurrency. So, trading in cryptocurrency is done at investors’ risk. . The Finance Minister of India, Nirmala Sitharaman, proposed to tax digital assets and has increased the debate on the legality of cryptocurrencies in the country. . While many have embraced the decision to tax virtual currency as it is the first step to recognizing it, the government is yet to pass any official clarification on this matter of whether currencies like Bitcoin are legal or not in India. . Based on the various key statements made by the Reserve Bank Of India Governor as well as various government spokespersons including the Finance Minister of the country, one can conclude that cryptocurrency is illegal, but there is no certain ban on it in India. . They are unregulated but according to the recent Union Budget 2022, the government of India announced a 30% tax on gains from cryptocurrencies and a 1% tax deducted at source. . Read more: https://www.forbes.com/advisor/in/investing/cryptocurrency/crypto-bill/ . . . . . #HerbertSim #BitcoinMan #Blockchain #Bitcoin #BTC #Crypto #CryptoCurrency #Forex #BitcoinTrader #BitcoinTrading #CryptoTrader #CryptoTrading #ForexTrading #ForexTrader #StockTrader #StockTrading #блокчейн #биткойн #블록체인 #비트코인 #ブロックチェーン #ビットコイン