India Implements 30% Tax on Cryptocurrency Transactions

According to Foresight News, on this day in 2022, the Indian Parliament passed legislation imposing a 30% capital gains tax on cryptocurrency transactions. This tax policy, which also includes a Tax Deducted at Source (TDS), was set to take effect one week after the legislation was approved. The move marked a significant step in India's regulatory approach to digital assets, aiming to formalize and regulate the rapidly growing cryptocurrency market in the country.