Taxing Crypto-Assets: The Indian PoV

India has one of the fastest-growing markets for crypto-assets in the world. So much so that it ranked second in the 2021 Global Crypto Adoption Index by Chainalysis. As well as two unicorns and over three hundred startups, India has around fifteen million crypto-oriented investors. But at the same time, and quite unfortunately, it still doesn’t have a comprehensive regulatory framework for crypto. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, has become pretty much like Ethereum 2.0. Coming, but not arriving. The RBI even tried to ban cryptocurrencies in 2018, while contemplating a blockchain-powered Digital Rupee. The Supreme Court upheld the unconstitutionality of the proposed ban, and thankfully so. Because of such inconsistencies, the dark clouds of uncertainty loom over the mushrooming crypto-based financial markets in India. Innovators are...