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Taxing cryptos does not mean it has been legalised, says Union Finance Minister Nirmala Sitharaman

In the Union Budget 2022-23 presented on February 1, the Finance Minister proposed to impose 30 per cent tax on income from the transfer of any virtual digital assets

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Union Finance Minister Nirmala Sitharaman. Photo/AFP

Union Finance Minister Nirmala Sitharaman. Photo/AFP

Union Finance Minister Nirmala Sitharaman on Friday said the imposition of tax on digital assets should not be seen as a precursor of legalisation of cryptocurrencies.

Replying to the general discussion on Union Budget 2022-23 in Rajya Sabha, the Finance Minister said, "I am not going to legalise it or ban it at this stage. Banning or not banning will come subsequently when consultations give me input."

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