Crypto Vakil

We bring you important updates from Blockchain and Cryptocurrency sector with special focus on legislation and policy space.

[Crypto Vakil @CryptoVakil]

Gifting of virtual digital asset also to be taxed. No deduction permitted except the cost of acquisition of such assets.

https://t.co/yQgXbY32Zm

[ANI @ANI]

I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except cost of acquisition: FM Nirmala Sitharaman

#Budget2022

[Crypto Vakil @CryptoVakil]

RBI to issue Central Bank Digital Currency in FY23: FM Sitharaman in Budget

#CBDC #Bitcoin #Bkockchain

[Crypto Vakil @CryptoVakil]

Virtual digital assets to be taxed at 30%. 1% TDS on payments made on transfer of digital assets.

#BudgetSession2022 #Bitcoin #Blockchain

[Crypto Vakil @CryptoVakil]

. @AnirudhRastogi, Founder and Managing Partner @ikigailaw speaks to @jnsayta on the proposed crypto regulation law.

https://t.co/XCDOaUJXaI

[Crypto Vakil @CryptoVakil]

Watch @thegopaljain, senior advocate, Supreme Court speak to @jnsayta on the Fundamental Rights, the IAMAI case, the proposed legislation:

https://t.co/tNgOt4Z14H

#crypto #RBI #IndiaWantsCrypto

[Jay Sayta @jnsayta]

In the meanwhile, #crypto exchanges will continue to operate in regulatory ambiguity. This uncertainty & lack of clarity adversely impacts crypto investors, VC/PE funds who have invested in this space & crypto exchanges. Govt should clarify its stand asap & publish draft Bill.

[Jay Sayta @jnsayta]

With both Rajya Sabha & Lok Sabha adjourned sine die today, it is clear that the proposed #crypto legislation will not be passed at least for the next couple of months. Govt unlikely to take ordinance route specially as budget session is barely 40 days away. #CryptocurrencyNews

[Crypto Vakil @CryptoVakil]

All Private cryptocurrencies to be regulated, not banned.

Reports NDTV

#Bitcoin #CryptocurrencyNews

[Crypto Vakil @CryptoVakil]

Jack Dorsey’s Square is changing its name to Block.

This comes days after Dorsey stepping down as CEO of the social media company he co-founded. He continues to be the CEO of Square.

#blockchain #bitcoin

[Crypto Vakil @CryptoVakil]

"The income earned by exchanges and other #crypto service providing platforms is liable to tax under the head Biz or Profn under Chapter-IV of the Income-tax Act, 1961. Applicability of tax rate wll depnd on status and category of taxpayer."

Govt in #RajyaSabha @nsitharaman

[Crypto Vakil @CryptoVakil]

Government responds on #cryptocurrency craze. #RajyaSabha

@rautsanjay61 #bitcoin #CryptoInvestment

[Crypto Vakil @CryptoVakil]

Smt. @nsitharaman ji responds to a starred question by Rajya Sabha member Shri. @SushilModi

#cryptocurrency #Bitcoin

#ETH

[Crypto Vakil @CryptoVakil]

Smt. @nsitharaman ji responds to a starred question by Rajya Sabha member Shri. @SushilModi

#cryptocurrency #Bitcoin

#ETH

[Crypto Vakil @CryptoVakil]

Finance minister responds at this point she cannot comment on the framework concerning #NFTs.

She said she has no readily available data on income tax paid on account of crypto transactions.

[Crypto Vakil @CryptoVakil]

Is there any plan to regulate / prohibit crypto ads ? Sushil Kumar Modi asks in #RajyaSabha

Modi says no one read the RBI, SEBI advisories.

[Crypto Vakil @CryptoVakil]

. @nsitharaman says the earlier bill is reworked and would definitely come before the house.

[Crypto Vakil @CryptoVakil]

Sushil Modi asks if govt is working on any regulatory framework for #NFTs.

[Crypto Vakil @CryptoVakil]

Govt is creating awareness on risks involved in #crypto through Govt, RBI, SEBI.

- @nsitharaman in Rajya Sabha

[Crypto Vakil @CryptoVakil]

"The issues pertaining to regulatory capacity and also the fact that it is proliferating in past two years is taken note of," @nsitharaman responds to BJD MP Amar Patnaik on capacity of RBI and other bodies to regulate crypto and CBDC. #RajyaSabha

[Crypto Vakil @CryptoVakil]

The question was asked by
@sumalathaA from Karnataka

[Crypto Vakil @CryptoVakil]

In response to a question in Lok Sabha, the finance ministry said, "The Government does not collect data on bitcoin transactions. The Government has no proposal to recognise bitcoin as a currency."

#CryptocurrencyNews #Bitcoin

[Crypto Vakil @CryptoVakil]

MPs in LS & RS from Shiv Sena, TRS, VCK & BJP have raised Qs in Parliament on whether govt will regulate #crypto & bring legislation as well govt's stand on it. To be answered in LS on Mon & RS on Tue.

@CMRamesh_MP @rautsanjay61 @thirumaofficial

#cryptocurrency #bitcoin