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India vs North Macedonia

Crypto regulation comparison

← Back to map | India | North Macedonia
India

India

North Macedonia

North Macedonia

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.

North Macedonia has no dedicated cryptocurrency legislation. Crypto is not prohibited and operates in a regulatory gray area. The general flat 10% income tax rate may apply to crypto profits. The government is working toward EU MiCA alignment and plans to license crypto exchanges by 2025-2026.

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 National Bank of the Republic of North Macedonia
Stablecoin Rules No specific stablecoin regulation; RBI exploring digital rupee CBDC
Stablecoin Rules No specific stablecoin regulation
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
  • No dedicated cryptocurrency legislation
  • Central bank has acknowledged crypto without banning it
  • General flat 10% personal income tax rate may apply to crypto profits
  • Government working toward licensing crypto exchanges by 2025-2026
  • Working toward EU candidacy and alignment with MiCA regulation
Sources
Sources
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