In the start of the month we had a good news in India regarding cryptocurrencies. India has been the country which were hostile towards cryptocurrencies. In fact, in 2019 Indian central bank Reserve Bank of India had banned banks and financial institutions to have any connection with the crypto traders. It made crypto lovers life a hell in India. For the crypto enthusiast like me, it was a very tough time. Finally, crypto owners won battle in the court and the ban was removed.

However, this doesn't mean that everything was alright. Indian government was mulling over to ban cryptos. It was feared that India may impose blanket ban on cryptos in any moment. For this there had been news that during the winter session of the parliament, bill related to crypto ban might be introduced by the government. But, the budget session of the parliament brought good news for crypto owners. Government of India decided to impose 30 percent tax on cryptos.

It is a good news. Taxing cryptos means government has regularized cryptos. Moreover, it also has recognized cryptos as digital assets. It also means banning cryptos in near future would not be easy for the Indian government as it will not be able to defend its decision in the court. So, overall it's a good news which should be appreciated.

What is your opinion? Feel free to write in the comments below.

Thank you! Have a great fortune!