Cryptocurrency

Indian Parliament Member Insists Crypto Is Like Gambling — Wants to Tax at 50% – Regulation Bitcoin News

An Indian parliament member says crypto is like playing and have to be taxed at a really excessive price, corresponding to 50%. “We want to discourage and disincentivize” buying and selling and investing within the asset class, he confused.

Indian Parliament Member Wants to Tax Crypto at 50%

Indian parliament member Sushil Kumar Modi shared his view on cryptocurrency in an interview with Forkast, printed Tuesday. Modi is a member of Rajya Sabha, the higher home of India’s parliament.

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He not too long ago made headlines when he urged the Indian authorities to impose greater than 30% tax on crypto earnings prior to Rajya Sabha passing Finance Invoice 2022. He informed the publication that the Indian authorities ought to tax crypto earnings as a lot as 50%.

Modi defined:

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