New rule will be applicable on crypto investment!!!
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There was a constant apprehension in the minds of investors regarding cryptocurrency whether it has been approved by the indian government or not. It is to be known that during the budget session, Finance minister Nirmala Sitharaman had said that the government will deduct 30 percent tax on the income earned from investing in cryptocurrencies. After this statement, where investors started thinking that the government has approved to regulate crypto. At the same time, now in the Lok Sabha, minister of State for Finance Pankaj Chaudhary has ruled out the possibility of creating a regulatory authority for crypto investment.
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Investors may suffer
Minister of State for Finance Pankaj Choudhary said that investors investing in cryptocurrencies may suffer losses. RBI has been warning investors from time to time about the dangers related to economic, financial, legal and security.
Also, the minister of State for Finance said in a written reply that cryptocurrency is unregulated. He said, RBI does not issue cryptocurrencies. Traditional paper currency is a legal tender issued by the RBI in accordance with the provisions of the RBI Act 1994. A wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital version of traditional paper currency is called a Central bank wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital currency (CBDC).
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New rule: For those who invest in crypto, the government will implement a new rule from april 1, 2022. That is, from april 1, 30 percent tax will start on the profits made on crypto. Along with this, advertisements of crypto will also be strictly enforced. Action will be taken against advertisements that are tempting crypto and misleading investors.
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