OKX Banner
BTC $80,786.00 (+4.47%)
ETH $2,498.99 (+4.64%)
BNB $719.37 (+4.15%)
XRP $1.44 (+5.69%)
SOL $103.31 (+3.18%)
TRX $0.33 (+1.57%)
HYPE $86.57 (+6.18%)
ZEC $933.67 (+14.40%)
DOGE $0.09 (+5.52%)
RAIN $0.02 (+2.27%)
XMR $516.55 (+0.02%)
LINK $11.78 (+5.88%)
LEO $9.37 (+0.84%)
ADA $0.22 (+7.67%)
XLM $0.18 (+2.58%)
BCH $255.23 (+4.12%)
CC $0.11 (+3.08%)
LTC $51.02 (+2.38%)
UNI $6.30 (+9.21%)
GRAM $1.36 (+1.87%)

India vs Mongolia

Crypto regulation comparison

← Back to map | India | Mongolia
India

India

Mongolia

Mongolia

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.

Mongolia adopted the Law on Virtual Asset Service Providers (VPSP) in December 2021, establishing a comprehensive regulatory framework. The Financial Regulatory Commission (FRC) registers and supervises crypto exchanges. Over 12 licensed exchanges serve 850,000+ customers. Crypto mining is legal and growing, with tax incentives for renewable energy use.

Tax Type Capital gains
Tax Type Income
Tax Rate 30%
Tax Rate 10-25%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CBDT, FIU-IND, SEBI, RBI
Regulator Financial Regulatory Commission (FRC) of Mongolia
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
  • Law on Virtual Asset Service Providers (VPSP) adopted December 2021
  • FRC registers and supervises crypto exchanges under VPSP law
  • Over 12 licensed exchanges serving 850,000+ customers
  • Crypto exchange income is taxable and exempt from VAT
  • Mongolia launched blockchain-based OTC securities trading in 2025
Sources
Sources
OKX Banner