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India Bats for Global Crypto Regulation Framework

Published on April 20, 2022
Current Context: Honourable Finance Minister Nirmala Sitharaman registered India’s stand on cryptocurrency at the International Monetary Fund.
India Bats for Global Crypto Regulation Framework
  • A cryptocurrency refers to a currency that works on a decentralized system without having the need for a central regulator. It is therefore prone to be misused for terror financing, money laundering etc, using Dark Net.
  • The Government of India has levied a tax of 30 % upon cryptocurrency under the head digital transaction tax, in the budget 2022.
  • Registering India’s stand, the FM sought a Global Crypto Regulation Framework. The nature of this framework is yet to be finalized.
  • El-Salvador was the first country to adopt crypto as the legal tender. Cryptocurrency is valued at more than 250 bn as per CoinCDX research 2021.


Q.1 What is the amount of tax imposed on cryptocurrency, as per budget 2022?
a. 12.5%
b. 13%
c. 13.5%
d. 30%
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