Roobet Banner
BTC $80,901.00 (+0.41%)
ETH $2,344.78 (+0.16%)
BNB $753.64 (+1.55%)
XRP $1.32 (-0.68%)
SOL $101.59 (+0.50%)
TRX $0.33 (-0.54%)
ZEC $1,293.78 (-0.34%)
HYPE $80.07 (-1.90%)
DOGE $0.08 (+0.69%)
XMR $595.66 (-0.86%)
LINK $11.73 (+1.38%)
LEO $9.46 (+4.60%)
ADA $0.20 (-0.54%)
NEAR $4.66 (+0.28%)
XLM $0.17 (+0.72%)
BCH $287.37 (-2.25%)
RAIN $0.01 (-4.97%)
LTC $59.19 (+3.75%)
UNI $7.20 (+1.91%)
CC $0.10 (+0.47%)

India vs Iraq

Crypto regulation comparison

← Back to map | India | Iraq
India

India

Iraq

Iraq

Legal
Banned

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.

Iraq has banned cryptocurrency dealings. The Central Bank of Iraq issued a directive in 2017 prohibiting banks, financial institutions, and exchange companies from dealing in cryptocurrency. Despite the ban, some underground and peer-to-peer crypto trading reportedly persists.

Tax Type Capital gains
Tax Type Unclear
Tax Rate 30%
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining No No
Regulator CBDT, FIU-IND, SEBI, RBI
Regulator CBI (Central Bank of Iraq)
Stablecoin Rules No specific stablecoin regulation; RBI exploring digital rupee CBDC
Stablecoin Rules Not applicable; crypto activities prohibited
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
Key Points
  • CBI banned all crypto dealings by financial institutions in 2017
  • Exchange companies are prohibited from handling cryptocurrency
  • No regulatory framework for crypto businesses
  • Underground and P2P crypto trading reportedly exists despite the ban
  • The ban is motivated by AML concerns and financial stability considerations
Sources
Sources
Roobet Banner