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” Indian state gov’t uses Polygon to issue verifiable caste certificates “ The Government of Maharashtra, one of India’s state governments, has started issuing caste certificates over the Polygon blockchain to citizens residing in Etapalli village, Gadchiroli district, as a part of the Digital India campaign. In partnership with LegitDoc, a blockchain-based application, the Maharashtra…
” Law Decoded: Crypto taxes and taxes on crypto, March 21–28. “ It was relatively quiet in the digital asset policy department last week, as regulators and lawmakers in most key jurisdictions retreated to their offices to do the necessary homework. In the U.S., federal agencies got on with the various reports that President Joe…
” Crypto tax policy framework passes India’s parliament despite pushback from lawmakers “ A tax framework on cryptocurrencies introduced by India’s Finance Minister Nirmala Sitharaman will become law in the country after being passed as an amendment to the Finance Bill. On Friday, India’s lower house of parliament, the Lok Sabha, passed the 2022 Finance…
” Tax man: India’s new tax policies could prove fatal for crypto industry “ Indian crypto tax policy has become the hottest topic for Indian crypto traders and exchange operators as it is set to become law on March 24 and will come into effect starting on April 1. The proposed 30% crypto tax is…
“# India’s crypto tax provides little legal clarity for traders and exchanges ” Earlier in February, Indian Finance Minister Nirmala Sitharaman announced a tax proposal that would bring the relatively unregulated digital asset space under the purview of tax authorities. The proposal includes a 30% income tax on crypto returns and a 1% tax deducted…
“# Chingari integrates native token to advance Web3 social networking ” Indian social networking platform Chingari has announced ambitions to revolutionize the experience of its 100 million-user creator economy through the integration of native digital asset, $GARI, and accompanying cryptocurrency wallet via the Solana blockchain. Translating into the word ‘Spark’ in the languages of Urdu…
“# RBI deputy governor: banning crypto ‘most advisable choice’ ” T. Rabi Sankar from the Reserve Bank of India compared cryptocurrency to ponzi schemes and said that banning them, not regulating them, would be the “most advisable choice” for the Indian government. Sankar, the deputy governor for the RBI, told audiences at a keynote address…
“# Bitcoin, Ether, and NFTs will ‘never become legal tender’ in India, says Finance Secretary ” T.V. Somanathan, the finance secretary for the Indian government, is reportedly pushing back against the narrative cryptocurrencies will be widely accepted in the country — by dismissing the possibility of using them as legal tender. According to a Wednesday…
“# Crypto tax doesn’t legalize trading, says Indian tax department chief ” The head of the Central Board of Direct Taxes (CBDT) in India said the recent announcement of a 30% tax on crypto holdings doesn’t necessarily make the crypto trade legal in India. The finance minister of India announced a 30% tax on crypto…
“# Why did WazirX token WRX jump 30% after India announced its big crypto tax? ” WazirX exchange’s native token WRX benefited the most from India’s latest u-turn on crypto this week. WRX price jumps on India tax news WRX price surged nearly 30% to over $1, hitting a three-week high after the Indian government…