Indian Finance Minister: No decision on legalization or ban of cryptocurrencies at this stage

India’s Finance Minister Nirmala Sitharaman clarified on Friday that the government has yet to make a decision on legalizing or banning cryptocurrencies. She further stressed that whether cryptocurrencies are “legal or not, that is a different question, but I will be taxing because taxation is a sovereign right.” In his budget speech last week, the finance minister announced that cryptocurrency The income will be subject to a 30% tax. And this taxation scheme has led many to believe that the Indian government has legalized cryptocurrencies.