This just in...
"India is working on proposals to make cryptocurrency transactions subject to goods and services tax. . .considering applying the 18 percent tax to exchange operations, which it would view as 'intangible goods.'"
First off, how the hell does India plan to enforce this? Secondly, how do they come up with such arbitrary numbers? 18%?
Once again, another example of a government sticking its head in places it doesn't belong. I smell fear. You can try, but you will never bring crypto down. It's like a new world war. Decentralized vs. centralized.
Fortunately, the blockchain was designed to overcome all of this bologna. Good luck, Indian Gov.