News > Taxing income doesn’t give cryptos legitimacy: Nirmala

Taxing income doesn’t give cryptos legitimacy: Nirmala

The Outreach | 12/02/2022 11:36 AM | Click to read full article

The Finance Minister said the government has sovereign right to tax profit made from cryptocurrency transactions, and the decision on banning or not banning will be taken based on feedback from consultations.

About the profit emanating from transactions in cryptocurrencies, she stated that “(Whether it is) legitimate or illegitimate, it is a different question, but I will tax because it is a sovereign right to tax”.