First Mover Asia: India Continues Its Restrictive Approach to Crypto; Bitcoin, Ether Run in Place

As crypto goes, there are easier places to operate than India.Rs. 95.86 crore from 11 crypto exchanges on allegations of tax evasion.

The government said in January that it was investigating six exchanges, including India's largest exchanges, WazirX, CoinDCX and BuyUCoin, as part of an anti-tax evasion initiative, but Chaudhary updated the number.a finance bill that included a whopping 30% capital gains tax on crypto transactions and a 1% tax deducted at source and no offsetting losses. The vote ignored lobbying by industry advocates who had hoped to water down at least the source tax.

Indian Prime Minister Narendra Modi’s government is still planning a rollout of a digital rupee by the end of 2022-23, seen as the cornerstone of the country's crypto policy. That approach is more cautious and in keeping with the Indian government's recent authoritarian leanings., the parent of the city’s institutionally focused OSL exchange, saw its stock trend upwards as the market opened Wednesday following its strong earnings report.

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JPRubin23 What do you expect when we see the US order crypto exchanges to freeze Russian accounts? The world is watching and India doesn't want an asset that can be frozen at will by a single country.

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