BTC $67,955.00 (+6.10%)
ETH $2,033.34 (+9.80%)
XRP $1.45 (+6.80%)
BNB $624.46 (+6.39%)
SOL $87.15 (+11.84%)
TRX $0.29 (+1.10%)
DOGE $0.10 (+10.28%)
ADA $0.29 (+12.63%)
BCH $514.62 (+7.91%)
LEO $8.78 (+10.28%)
HYPE $28.20 (+4.29%)
LINK $9.41 (+14.17%)
XMR $342.34 (+5.52%)
CC $0.16 (+0.67%)
XLM $0.16 (+9.20%)
RAIN $0.01 (+0.91%)
LTC $58.11 (+13.04%)
HBAR $0.10 (+6.28%)
AVAX $9.63 (+15.03%)
ZEC $250.55 (+4.28%)

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