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India's Supreme Court urges government to regulate cryptocurrency

India's Supreme Court urges government to regulate cryptocurrency

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金色财经金色财经2025/05/20 12:52

May 20 news, according to Cointelegraph, as reported by Indian legal media LawChakra, despite the government's taxation on digital assets like Bitcoin, the Supreme Court of India recently questioned the country's lack of a clear stance on cryptocurrency regulation. Supreme Court Justice Surya Kant stated during a hearing on an ongoing investigation involving Bitcoin transactions: These cryptocurrencies constitute a complete parallel economic system and pose a threat to the national economy. He further pointed out that although the government has imposed a tax rate as high as 30% on crypto assets, there is still a significant lack of regulation. If you have already decided to impose a 30% tax, then please also regulate it, because by taxing it, you have effectively acknowledged its existence, Justice Kant said.

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