Union Budget 2022: Is 'Cryptocurrency' legal now?

Virtual asset income would be taxed at 30%, according to Union Finance Minister Nirmala Sitharaman, who presented the FY23 Budget to parliament on February 1. On these investments, 1% TDS (tax deducted at source) will be deducted. The tax regime, however, signifies that the government has legalised cryptocurrencies as an asset, according to the experts. PM Modi chaired a meeting on the future of bitcoin on November 13, 2021, and raised the issue of deceptive non-transparent cryptocurrency advertising.