Search
Parliament of India Holds Discussion on Future of Web3
7.12.2023
Source: Pixabay The lower house of the Indian Parliament, Lok Sabha, held a discussion on the importance of web3 and blockchain sector in India on December 6. Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, emphasized the importance of Web3 and Blockchain...
Indian Government Answers Questions About Crypto Legalization, Fraud Prevention
6.4.2023
The Indian government has responded to parliamentary questions about the legalization of cryptocurrency and the steps it has taken to prevent crypto-related fraud. “Crypto assets are currently unregulated in India. Frauds relating to crypto are dealt with under extant laws against fraud...
Nothing Outlaws Crypto in India if Legal Procedures Are Followed, Says Government Official
21.1.2023
An Indian government official says that there is currently nothing that outlaws crypto in India “as long as you follow the legal process.” Meanwhile, the country’s central bank, the Reserve Bank of India (RBI), has stressed that “cryptocurrency does not have any underlying...
Indian Parliament Member Insists Crypto Is Like Gambling — Wants to Tax at 50%
7.4.2022
An Indian parliament member says crypto is like gambling and must be taxed at a very high rate, such as 50%. “We need to discourage and disincentivize” trading and investing in the asset class, he stressed. Indian Parliament Member Wants to Tax Crypto at 50% Indian parliament member...
Indian Parliament Member Asks Government to Tax Crypto Income More Than 30%
29.3.2022
An Indian parliament member has urged the government to increase the tax on crypto income from the current proposed rate of 30%, stressing that crypto trading is similar to gambling. He has also requested that the goods and services tax (GST) be imposed on the total transaction value of crypto....
Parliament Member Says 1% TDS Will Kill Crypto Asset Class in India, Urges Government to Reconsider
28.3.2022
An Indian parliament member has warned that imposing a 1% tax deducted at source (TDS) on every crypto transaction will kill the nascent asset class. This tax provision is contained in Finance Bill 2022 which Lok Sabha, the lower house of India’s parliament, has passed. However...
RBI Crypto: Indian Government Says Central Bank Has No Plan to Issue Cryptocurrency
17.3.2022
The Indian government has told parliament that it does not have a plan to issue cryptocurrency to be regulated by the central bank, the Reserve Bank of India (RBI). The government also clarified that India’s central bank digital currency (CBDC), that the RBI will launch this financial year...
Indian Parliament Member Clarifies Legal Status of Cryptocurrency
13.2.2022
Cryptocurrency is currently a gray area in India. It is neither legal nor illegal. A parliament member, India’s finance secretary, and the minister of finance have recently clarified the legal status of cryptocurrency in India. Legal Status of Crypto in India Following the finance...
Indian Parliament Unlikely to Discuss Crypto Bill During Budget Session - Finance Minister
3.2.2022
The vivid debate surrounding India’s forthcoming crypto legislation has taken another turn as the country’s Finance Minister Nirmala Sitharaman announced that the bill is unlikely to be discussed during the parliament’s ongoing budget 2022 session that is to end on April 8.
Sitharaman...
Indian Parliament Unlikely to Discuss Crypto Bill During Budget Session - Finance Minister
3.2.2022
The vivid debate surrounding India’s forthcoming crypto legislation has taken another turn as the country’s Finance Minister Nirmala Sitharaman announced that the bill is unlikely to be discussed during the parliament’s ongoing budget 2022 session that is to end on April 8.
Sitharaman...
Indian parliament's agenda includes crypto training session, leaves out bill banning digital assets
31.1.2022
The Cryptocurrency and Regulation of Official Digital Currency Bill does not appear as one of the 15 bills the government body will consider during its next session
Former Finance Secretary Doubts Indian Government Understands Crypto
24.12.2021
The Indian government has not introduced the cryptocurrency bill that was listed to be taken up in the winter session of parliament. Former Finance Secretary Subhash Chandra Garg says he has no confidence in the ability of the Indian government to figure out crypto. Garg headed...
Indian parliament's agenda for winter session no longer includes crypto bill
20.12.2021
The Cryptocurrency and Regulation of Official Digital Currency Bill doesn't appear among the bills that India's lower house will consider as it concludes the winter session
Indian Government Seeks Wider Consultation Before Finalizing Crypto Bill: Report
20.12.2021
The cryptocurrency bill that was listed to be taken up in the current session of parliament is reportedly being reworked. The government seeks wider consultation on crypto before finalizing the rules to govern digital currencies in India. Indian Government Seeks More Consultation on Proposed Crypto...
Indian Lawmaker Says Crypto Must Be Blocked if Used for Illegal Purposes
20.12.2021
India’s minister of state for external affairs says that cryptocurrencies must be blocked if they are used for illegal purposes, such as “to launch cyber-attacks in India, to launch other attacks on India, to do other kinds of illegal and unethical work like drug trafficking.”...
Indian Finance Minister Reveals Crypto Bill Had to Be Reworked Before Submitting to Cabinet
1.12.2021
India’s finance minister, Nirmala Sitharaman, has revealed that the previous version of the cryptocurrency bill the government is pushing needed to be reworked. “This bill, once the Cabinet clears, will come into the House,” the finance minister told Rajya Sabha, the upper...
Indian parliament's agenda for winter session includes bill on banning 'private cryptocurrencies'
23.11.2021
The Cryptocurrency and Regulation of Official Digital Currency Bill is one of 26 new pieces of legislation for India's lower house of parliament to consider when it convenes on Nov. 29
Indian Parliament Committee Discusses Crypto Regulation With Industry Experts
15.11.2021
India’s parliamentary committee on finance has held a meeting with representatives from the crypto industry and other stakeholders on cryptocurrency and its oversight. “There was an understanding that cryptocurrency can’t be stopped but it must be regulated”...
Indian Official Provides Updates on Crypto Bill and Transition Period for Crypto Holders: Report
14.2.2021
As the Indian government gets closer to moving forward with the cryptocurrency bill, an official from the Ministry of Finance reportedly explained what discussions the government has been having regarding the crypto bill and the impending legislation. Indian Crypto Bill’s Progress Update...
Indian parliament reportedly considering fast-tracking crypto bill
8.2.2021
Government officials may be planning to introduce the law potentially banning crypto “within a month” of the ordinance clearing