Indian politician Wants Crypto Taxes Increased By 50%

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Member of Parliament in the Rajya Sabha, Sushil Kumar Modi has presented a proposition that taxes on cryptocurrencies should be raised from the current 30% to 50%.

Speaking in a parliament sitting, Sushil Kumar asserted that taxes on crypto gains be raised to 50% so as to discourage what seems to be a growing interest in cryptocurrencies among the populace.

He noted that the Indian government fully encourages the Blockchain industry and wishes to utilise it for other purposes like health records, land records, etc. but not cryptocurrency.

Sushil Kumar concluded by stating that he cannot answer exactly whether crypto should be completely banned or not. It is a matter of a larger audience and we have to wait some time for that.