Cryptocurrencies

India Finally Warms to Crypto With Tax, Digital Currency

Income from virtual assets to be taxed at 30%, minister says
Plans to introduce digital rupee in fiscal year starting April

Nirmala Sitharaman, India's finance minister, center, and other members of the finance ministry pose for a photography on Feb. 1.Photographer: T. Narayan/Bloomberg

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By Suvashree Ghosh and Vrishti Beniwal

February 1, 2022 at 1:47 AM EST

Updated on

February 1, 2022 at 6:12 AM EST

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India took a step closer to adopting cryptocurrencies after years of wavering on its stance, as the country seeks to keep up with the global move toward the digital assets. Bitcoin gained.