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India vs Kyrgyzstan

Crypto regulation comparison

← Back to map | India | Kyrgyzstan
India

India

Kyrgyzstan

Kyrgyzstan

Legal
Legal

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.

Kyrgyzstan adopted the Law on Virtual Assets in 2022 requiring licensing for exchanges, mining, and VASPs. Over 120 licensed VASPs operate. Crypto turnover exceeded traditional securities market in 2024.

Tax Type Capital gains
Tax Type Income
Tax Rate 30%
Tax Rate 10%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CBDT, FIU-IND, SEBI, RBI
Regulator State Financial Supervision Authority
Stablecoin Rules No specific stablecoin regulation; RBI exploring digital rupee CBDC
Stablecoin Rules Regulated under Virtual Assets Law
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
  • Law on Virtual Assets adopted in 2022 with licensing framework
  • Over 120 licensed VASPs active by late 2024
  • Three license types: trading operator, currency exchanger, mining operator
  • Crypto sector contributed 800M KGS in taxes in 2024
  • Virtual assets not recognized as legal tender but circulate under special regime
Sources
Sources