Is cryptocurrency legal tender in India? What we know so far. 10 points
FM Sitharaman has proposed that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%
Finance Minister Nirmala Sitharaman's proposal to tax virtual assets has sparked a debate over the legality of cryptocurrencies in India. While many have welcomed the decision to tax digital currencies thinking that it is the first step to recognise the virtual currencies, the government has not yet clarified whether currencies like Bitcoin can be considered legal tender in India.