The Indian Parliament passed the Finance Bill 2022-2023, which confirmed the 30% tax rate on all virtual digital assets (VDAs) that will take effect from April 1 in addition to other regulations.
Aditya Singh, founder of the YouTube channel "Crypto India," started a petition against the 30% digital currency tax rate, which 60,000 people have signed at the time of writing.
India's Finance Minister Nirmala Sitharaman will read the budget on February 1, and many are hopeful that she'll talk digital currency regulations, but it's unlikely with elections on the way.
The Reserve Bank of India still maintained its stance that digital currencies can lead the country into financial stability, even though it plans on launching its own digital currency.
Finance Minister Nirmala Sitharaman assured that despite reports of government hostility against the industry, it will take a measured approach.
