cryptocurrency: Supreme Court lifts ban

cryptocurrency: Supreme Court lifts ban

The Supreme Court of India lifted ban on the cryptocurrency on the 4th of March 2020. The Reserve Bank of India had issued a circular in the year 2018 which barred banks in India from dealing in cryptocurrency. A plea challenging the RBI’s circular was raised which had now been allowed by the Supreme Court of India. Trading in cryptocurrencies will now be allowed, after lifting the ban on cryptocurrency. What do you think will be the possible implications in the tax regime?

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