India drops standalone crypto law in favor of e-Rupee
- —The Finance Ministry told a parliamentary committee that a standalone crypto law will not be adopted
- —Profits from digital assets in India are taxed at 30% plus a 4% cess
- —More than 50 platforms, including CoinDCX and Binance, are registered with the FIU
- —Authorities are promoting the e-Rupee, including for social benefit payments
Why it matters: India is choosing caution over rules, leaving uncertainty for local exchanges and investors but reducing the risk of legitimizing crypto.
Source: Bing News (crypto query)