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Armenia vs India

Crypto regulation comparison

Armenia

Armenia

India

India

Legal
Legal

Armenia adopted a comprehensive Law on Crypto Assets in May 2025, effective July 2025, modeled on the EU's MiCA. The Central Bank of Armenia licenses crypto service providers. Non-entrepreneur crypto gains are tax-free (0%); ECOS Free Economic Zone offers incentives for blockchain startups. Licensing enforcement begins January 2026.

India legalized crypto taxation in the 2022 Union Budget, imposing a flat 30% tax on all crypto gains with no deductions for losses. A 1% TDS (Tax Deducted at Source) on crypto transactions above thresholds also applies. The Supreme Court struck down the RBI's 2018 banking ban in 2020, and India is now developing a broader regulatory framework.

Tax Type Capital gains
Tax Type Capital gains
Tax Rate 0% (non-entrepreneur) / 10-20% (business)
Tax Rate 30%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Central Bank of Armenia
Regulator CBDT, FIU-IND, SEBI, RBI
Stablecoin Rules No specific stablecoin regulation
Stablecoin Rules No specific stablecoin regulation; RBI exploring digital rupee CBDC
Key Points
  • Law on Crypto Assets adopted May 2025, effective July 2025
  • Central Bank of Armenia licenses all crypto service providers
  • 0% capital gains tax for non-entrepreneur crypto transactions
  • Framework modeled on EU MiCA regulation
  • Licensing enforcement begins January 31, 2026
Key Points
  • Flat 30% tax on all crypto gains with no loss offset against other income (effective April 2022)
  • 1% TDS on crypto transactions above ₹10,000 (₹50,000 for specified persons)
  • Supreme Court struck down RBI's 2018 banking circular banning banks from serving crypto firms
  • FIU-IND requires VASPs to register and comply with PMLA (Prevention of Money Laundering Act)
  • India blocked non-compliant offshore exchanges (Binance, others) in 2024, later some re-registered