Equalisation levy on crypto exchanges in India will not apply to investors, according to the Finance Minister

India’s finance minister told Parliament that the tax called ‘equalization levy’ applies to e-commerce firms, not investors.

Nirmala Sitharaman also disclosed that the government has no data on how many crypto exchanges are currently operational in the country or how many Indian investors are on the platforms.

According to her, the Modi administration has no conclusive information on whether or not these exchanges are involved in any illicit activities.