OKX Banner
BTC $64,082.00 (+1.41%)
ETH $1,845.89 (+0.61%)
BNB $569.56 (+1.07%)
XRP $1.09 (+0.59%)
SOL $75.01 (+0.43%)
TRX $0.32 (+0.32%)
HYPE $59.05 (-1.69%)
DOGE $0.07 (+0.60%)
RAIN $0.01 (-1.25%)
ZEC $544.61 (+1.80%)
LEO $9.79 (-0.09%)
XLM $0.19 (+0.88%)
XMR $331.44 (+2.42%)
LINK $8.30 (+1.37%)
ADA $0.17 (+3.46%)
CC $0.12 (-3.60%)
BCH $219.32 (+0.50%)
GRAM $1.48 (-4.11%)
LTC $45.57 (+2.93%)
USDG $1.01 (+0.18%)

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
OKX Banner