Indian Finance Minister: Bitcoin Still Likely to Be Banned

time:2022-02-05 05:30 source:Internet

On February 5, India’s Finance Minister Nirmala Sitharaman announced a 30% tax on cryptocurrency assets, which many misinterpreted as the country’s legalization of cryptocurrencies. In this regard, Indian Finance Minister T.V. Somanathan said in a recent interview with Outlook magazine that the cryptocurrency ban is still in place, taxing cryptocurrencies will not necessarily make them regulated, and for crypto, all possibilities are currently open. Cryptocurrencies may still be banned, they may be regulated, and the outcome is yet to be determined.

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