Raghav Chadha, a member of India’s upper chamber of Parliament, urged the government to establish a regulatory framework for cryptocurrencies and stablecoins in the country.
India’s Crypto Policies Under Scanner
In a speech in the Parliament on Monday, Chadha highlighted what he viewed as the paradox of taxing cryptocurrency gains at 30% without legal recognition, investor protections, or anti-money laundering frameworks.
“India taxes VDAs [virtual digital asset] like they are legal. But regulates it like they are illegal,” Chadha said.