Can I mine crypto in India? In India, cryptocurrency mining is an unregulated process at the moment, Patel told ABP Live. “There are no regulations to ban people from mining cryptocurrency. As of now, since public cryptos are mined using the miners’ own resources, there are no laws designed for this process.”
Is crypto mining taxable in India? The Government has also confirmed that expenditure incurred in mining cryptocurrency is considered capital expenditure and not a cost of acquisition. Therefore, the considerable expenditure on the hardware required to mine cryptocurrency cannot be deducted from any income derived from the transfer of cryptocurrency.
Is cryptocurrency legal in India? India has levied a 30 per cent tax on crypto investors, and a 1 per cent TDS on every crypto intra-traders. Currently, India has not regulated cryptos but won’t legalise it as well.
Is it legal to do crypto mining? You may want to look into local regulations where you live, but for now, bitcoin mining is legal in the U.S. and most other countries, but not all U.S. states allow it.