Mapping the Tax Policy and Laws Relating to Cryptocurrency in India and USA: A Comparative Analysis

Abstract

This research explores the regulatory framework of two rapidly evolving nations, India and USA, in the area of cryptocurrency and tax. One of them is a developed country while the other is still a developing country. This study focuses on highlighting the current regulatory tax framework and laws relating to cryptocurrency; including the roles of the regulating bodies. The study further highlights the global trend of adoption of cryptocurrency via graphs or charts. The authors with the help of examples has also tried to explain as to how the citizens of USA calculate their taxes on cryptocurrency.Through comparative analysis this study aims to propose recommendations for the growth of this market in India.