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ARTICLE · 02 JANUARY 2023

Market Intelligence Thought Leadership Award Winner

FinTales 2022 Round-Up

Ikigai Law
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Like everyone else, we've pored over the Budget announcements on crypto-assets. The euphoria in the crypto-verse was short-lived. Crypto-assets haven't been outlawed; but that's about it.

IndiaTechnology
Ikigai Law
Ikigai Law
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The best stories of 2022 from our monthly fintech newsletter, FinTales.

February 2022: The Hassleocracy of Crypto-taxes

"Cryptos have no underlying assets, not even a tulip." –Shaktikanta Das

Ouch. That's the RBI Governor, not mincing his words.

Like everyone else, we've pored over the Budget announcements on crypto-assets. The euphoria in the crypto-verse was short-lived. Crypto-assets haven't been outlawed; but that's about it. The proposed tax-rates and structure aren't – to put it mildly – kind to the crypto-ecosystem. To be fair, regulating this industry is a case of 'damned if you do' and 'damned if you don't'. So, we travel back in time to document a conversation between Akbar and his trusted minister, Birbal about 'magic coins'. Perhaps it rings a bell.

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