No relief in 30% tax rate: How does crypto market in India benefit post Budget?4 min read . Updated: 02 Feb 2023, 09:33 PM IST
- FM announced that the KYC process will be simplified by adopting a ‘risk-based’ instead of ‘one size fits all’ approach. While to enable access to anonymized data, she said, National Data Governance Policy will be brought out.
The cryptocurrency market in India expected a relief in the so-called 30% tax rate that has come into effect from last year, during the Budget 2023 announcement on Wednesday. However, the market was left with no relief in the tax rate by Finance Minister Nirmala Sitharaman. But, there are certain developments proposed in the Budget that are seen as a welcome move by the cryptocurrency market.
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