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Finland vs India

Crypto regulation comparison

← Back to map | Finland | India
Finland

Finland

India

India

Legal
Legal

Cryptocurrency is legal in Finland and well-regulated by the FIN-FSA. Crypto gains are taxed as capital income at 30% (34% for gains exceeding €30,000). Finland is one of few EU countries that has actively enforced tax compliance on crypto through data requests to exchanges.

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 30-34%
Tax Rate 30%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Finanssivalvonta (FIN-FSA)
Regulator CBDT, FIU-IND, SEBI, RBI
Stablecoin Rules Regulated under EU MiCA framework
Stablecoin Rules No specific stablecoin regulation; RBI exploring digital rupee CBDC
Key Points
  • Crypto capital gains taxed at 30% (34% for gains over €30,000 per year)
  • FIN-FSA registers and supervises virtual currency providers under AML law
  • Finnish Tax Administration actively sends letters to crypto holders based on exchange data
  • Losses on crypto can be deducted from capital gains
  • MiCA framework applicable from December 2024
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
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