India Imposes 30% Tax on Crypto Income, 54 Service Providers Registered

India has implemented a uniform 30% tax on income from virtual digital assets, along with an additional 1% tax deducted at source on transfers. According to ChainCatcher, approximately 54 crypto service providers have registered with the country's Financial Intelligence Unit, serving 39 million verified users who collectively hold about $2.1 billion in assets. The Reserve Bank of India (RBI) has repeatedly stated to parliament its preference for a restrictive policy toward private cryptocurrencies and stablecoins, urging banks to avoid related exposure to protect financial stability. A long-promised crypto bill remains unfinished. Indian government agencies are also using permissioned blockchains in non-trading contexts. AIIMS Delhi employs blockchain to manage teacher recruitment records, the Cotton Corporation of India uses a blockchain-based identification system to track cotton bales, and aviation regulator DGCA is building a blockchain-linked digital service platform.