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Dominican Republic vs India

Crypto regulation comparison

← Back to map | Dominican Republic | India
Dominican Republic

Dominican Republic

India

India

Restricted
Legal

The Dominican Republic has no specific cryptocurrency legislation. The central bank (BCRD) issued statements in 2017 and 2021 warning that crypto is not legal tender and prohibiting regulated financial institutions from dealing in digital assets under Monetary Law No. 183-02. Individual use is not criminalized but operates in a restricted gray area.

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 Unclear
Tax Type Capital gains
Tax Rate N/A
Tax Rate 30%
Exchanges No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Banco Central de la República Dominicana (BCRD), SIMV
Regulator CBDT, FIU-IND, SEBI, RBI
Stablecoin Rules No stablecoin regulation
Stablecoin Rules No specific stablecoin regulation; RBI exploring digital rupee CBDC
Key Points
  • No specific cryptocurrency legislation exists
  • BCRD prohibits regulated financial institutions from dealing in crypto
  • Crypto is not recognized as legal tender
  • No licensing framework for crypto exchanges
  • Crypto gains treated as taxable income when converted to Dominican pesos
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
Sources
Sources