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RBI governor sounds alarm on private cryptocurrencies, cautions investors
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livemint.comThe Reserve Bank of India (RBI) has once again cautioned investors on the risks posed by private cryptocurrencies in India. Private cryptocurrencies are a threat to financial stability, investors should keep risks in mind, governor Shaktikanta Das said.
The Budget has proposed a 30% tax on virtual digital assets.
Further, the buyer shall be liable to withhold tax on payments made for the purchase of such asset at the rate of 1% as withholding tax. Also, gains or losses on sale of virtual assets will not be allowed as set off against any other gains or losses. i.e. it will be treated as a separate class of asset.
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Read more on livemint.comAbout this in other media
RBI’s crypto ban talks give the shivers to small investors economictimes.indiatimes.com /2 years ago
India Should Ban Cryptocurrencies, Says RBI Deputy blockchain.news /2 years ago
RBI deputy governor calls for outright crypto ban, likens them to ponzi schemes cnbctv18.com /2 years ago
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