Govt's cryptocurrency stance: Heads I win, tails investors lose

The government has laid out clear rules on taxation of cryptocurrencies but has not said anything on what happens in cases of fraud

The Finance Ministry’s position on cryptocurrencies has caused much gnashing of teeth over the lack of clarity. 

However, as it turns out, the Ministry seems to know exactly what it is doing and has been quite clear in its stance, namely, we will tax your gains but your losses are your own.

The latest official statement on cryptocurrencies comes in the form of a written Lok Sabha answer by Finance Minister Nirmala Sitharaman on July 18, 2022. 

“Cryptocurrencies are by definition borderless and require international collaboration to prevent regulatory arbitrage. Therefore, any legislation for regulation or for banning can be