India Considers 18% Tax on Cryptocurrency Trading as Blockchain Startups Leave

India may apply the Goods and Services Tax (GST) to cryptocurrency trading as they could be classed as intangible goods. Reports claim this 18% tax is being examined by the Central Board of Indirect Taxes and Customs.
India Refuses to Embrace Bitcoin
The implications of this would mean that crypto traders would be taxed for every trade they make and that crypto miners would lose 18% of the mining rewards. The tax could also apply retrospectively from July 1 2017. This information was revealed to