Stay updated with breaking news from Bitcoin India. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Despite the slowdown, crypto adoption has been on a rise with more people wanting to dabble a little in crypto investments. However, crypto mining does not come cheap as mining one Bitcoin isn’t as valuable as it used to be a few months ago.
![[Vidhispeaks] Why India Needs Clarity on Taxation of Cryptocurrency - Vimarsana News](https://gumlet.assettype.com/barandbench%2F2021-09%2Ff422b06f-b864-454a-93d5-a8cd96a25431%2FVidhispeaks.jpg?w=1200&auto=format%2Ccompress&ogImage=true)
Vidhi Centre for Legal Policy’s recent working paper recommends two courses - include cryptocurrencies in the classification of capital assets or stock-in-trade and clarify the nature of cryptocurrency.
The finance minister also said that on the cryptocurrency front, there is certainly huge investment into these virtual digital assets, however, the government has not yet taken a stance on the regulations for the sector.
The Indian government is working on a new bill to regulate cryptocurrencies.
Bitcoin was down 17%, Ethereum was down 14%, Dogecoin was down almost 20%, and Polkadot was down 14%. Tether, a dollar-pegged cryptocurrency, was down about 17 percent.