🇮🇳 India’s Supreme Court to Govt: “You Tax Crypto, So Why No Regulation?”

India’s Supreme Court just called out the government for taxing crypto at 30% without giving any clear rules or regulations.

“You’re taxing Bitcoin at 30%, but you still haven’t made any proper crypto rules. That’s risky.”

The judge called crypto a “parallel economy” and said it could hurt the country if it stays unregulated.

The government replied:

“We’ll look into it.” (Basically, no clear answer yet.)

The court also warned that crypto is being used for illegal stuff and some coins might not be real but we know Bitcoin is going to hit $1M sooner or later and It will be too late for India if they think this way.

Summary:

• Govt is taxing crypto, but still no clear rules.

• Supreme Court isn’t happy about that.

• Regulation might finally come?

Your thoughts?

Should India finally take crypto seriously?

Comment below.

#btc #India