India is launching a crypto awareness campaign to educate the public about the legality of cryptocurrencies in the country and the risks of crypto investing. bitcoin
Cryptocurrency investing can be a complex and risky endeavor as the category is extremely volatile and works round the clock. It is important for potential investors to thoroughly educate themselves before making any decision.
However, some are concerned that the Indian government’s crypto campaign may paint cryptocurrencies in poor light, given that the Investor Protection and Education Fund Authority has conducted awareness campaigns on Ponzi schemes, chit funds, and dubious crowdfunding projects. Vipul Kharbanda, a non-resident fellow at the Centre for Internet and Society , was quoted as saying:
If the government takes a heavy-handed approach and starts saying things like virtual currency is not legal in India, that will not be entirely true. People may presume incorrectly that it is illegal.not illegal in IndiaDespite having no regulatory framework for cryptocurrency, the Indian government is taxing crypto income at 30% and has imposed a 1% tax deducted at source on crypto transactions.
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