Budget 2022: Taxing of Cryptocurrency in India

In the budget speech, Finance minister Nirmala Sithraman announced a flat 30% tax rate on income generated from the transfer of digital assets. However, later she clarifies that this does not mean that these assets are legitimised, which was received with scepticism. This article first discusses how the legality of these assets is irrelevant to the government’s tax regime on them, and then moves on to discuss how we can interpret the government’s stance on digital assets through the lens of tax rates.

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Illegal uses of Cryptocurrency

This is the second part of the article: Introduction and Regulation of Cryptocurrency”, authored by Mitali Arora, focuses on how cryptocurrency is misused for various illegal activities and suggests the need of a regulatory framework that would make cryptocurrencies a trustworthy medium of exchange.