 "Bitcoin, cryptocurrency")
India’s only lobby for blockchain and crypto exchanges will be dismantled, said a media report on Friday quoting a source in a group representing the wider mobile technology sector.
The Blockchain and Crypto Assets Council (BACC) speaks for an industry already sell-off pressure. Bitcoin, the largest cryptocurrency by market cap, was trading at $20,798.02 on Friday. The Indian government, in Budget 2022, had imposed a 30 per cent tax on the proceeds from the sale of cryptocurrency. Additionally, a 1 per cent tax deducted at source (TDS) has also come into effect from July 1, 2022.
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