Crypto Trading regulation in India

India is one of the cryptocurrency markets that is not just big but the level of adoption is also quite high and that is why the user base is growing despite the fact that the government is not supporting crypto in the country. There is no regulation in place and even there is no framework that should be followed as far as cryptocurrency trading is concerned. The cryptocurrency income is taxable at 30% as defined by the financial authorities but is still the overall treatment is not fair.

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In the current scenario, the earnings from Crypto are taxed at 30 per cent which is very high and does not justify it since earning through crypto is not easy. It is also not a gamble because people invest money and there is no surety if they are able to make returns or not which is more like investing in the stocks. When we invest money in stocks then also there is no surety about the returns and it depends upon the market and how we plan the strategy so keeping a tax that is flat at 30% is very high and surely not fair at all.

A bench of Justices Surya Kant and N Kotiswar Singh made the remarks while hearing a bail petition filed by Gujarat resident Shailesh Babulal Bhatt, who has been accused of cryptocurrency-related fraud across multiple states. Though the bail plea itself was unrelated to broader policy matters, the bench expressed its concern over the lack of regulation in the cryptocurrency sector.

As per the latest news update court has asked the central government about the crypto regulation and also recommended the government to have regulation in place. As for the court if tax is applicable on the income and overall segment then it is acknowledged that crypto is an asset class that can be regulated. That is why having a regulation in place is very important. There are so many cases with codes related to crypto fraud, so regulation is pretty important for the government to have so that the right approach can be followed in the decision-making.

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