Crypto markets rebound but assets future in India uncertain: Experts

From April 1, a 30 per cent tax was applied on income from the sale of cryptocurrency. From July 1, an additional 1 per cent tax was applied in the form of tax deducted at source (TDS)

The market capitalisation (m-cap) of cryptocurrencies topped the $1-trillion mark on Wednesday, capping a weeklong bull run as in India experts cautioned about the future of the digital assets.

Bitcoin, the largest cryptocurrency by m-cap, was nearing $23,500 after rising nearly 20 per cent in the last seven days, according to coinmarketcap.com. Ethereum, the second largest cryptocurrency, was trading above $1,500, up nearly 45 per cent in a week.

The m-cap of all cryptocurrencies was above $1.05 trillion, according to coinmarketcap at 3pm IST. 

"Bitcoins price surge has ignited some bullish sentiments among investors. It reinforces the commitment