India becomes global anomaly by taxing crypto earnings — even if you’ve made losses

India finally gave cryptocurrency and digital assets some recognition, although its proposal for a 30% tax on income from all virtual assets will upset many. This levy includes cryptocurrency exchanges, as well as NFT (Non-Fungible Token) trades. This move comes after a lot of uncertainty around the legality of cryptocurrency trades and exchanges created by rumors of a blanket ban last year. However, Finance Minister Nirmala Sitharaman said that the government will present a new draft of the crypto bill soon, with an aim to regulate digital currency transactions. While the draft hasn’t been tabled, India made two important announcements…

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