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ARTICLE · 13 MARCH 2025

Taxing Cryptocurrencies In India

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Cryptocurrencies are digital or virtual forms of currency that leverage cryptographic techniques to ensure security, making them highly resistant to counterfeiting or double spending.

IndiaTechnology
Faranaaz Karbhari
Faranaaz Karbhari
Akriti Shikha
Akriti Shikha
Shray Mehta
Shray Mehta
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Introduction

Cryptocurrencies are digital or virtual forms of currency that leverage cryptographic techniques to ensure security, making them highly resistant to counterfeiting or double spending. Unlike government-issued fiat currencies, cryptocurrencies operate on decentralized networks powered by blockchain technology—a distributed ledger maintained and validated by a network of computers known as nodes. While Bitcoin remains the most recognized cryptocurrency, the ecosystem includes thousands of alternatives, commonly referred to as altcoins, such as Ethereum, Litecoin, and Ripple. Cryptocurrencies serve diverse purposes, including facilitating peer-to-peer transactions, enabling cross-border remittances, and acting as an investment asset. They can be traded on cryptocurrency exchanges, stored in digital wallets, and, in some instances, used for purchasing goods and services.

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