Cryptocurrencies

India Says Crypto Not Illegal as It’s Taxed Like Gambling Win

Finance Secretary says crypto transactions are in a grey area
Government will tax virtual assets at the highest rate

WATCH: India Finance Secretary T.V. Somanathan discusses India’s short-term goals in the next six months, the economy and his outlook for cryptocurrencies. Source: Bloomberg

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By Vrishti Beniwal

February 2, 2022 at 1:48 AM EST

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The Indian government said it doesn’t treat trading in crypto assets as illegal, a day after it announced taxing such transactions just the same as winnings from gambling.