India ready with consultation paper on: cryptocurrencies 

In this year's annual budget, the government has said it will tax profits made through cryptocurrency investments at 30%, 

But the country has not yet given the measure legal status.

Inflation in India should moderate in the coming months and the government is ready with its advisory paper on cryptocurrency, 

Economic Affairs Secretary Ajay Seth told reporters on the sidelines of an event on Monday.

Seth said there needs to be a global consensus on cryptocurrencies

 And India will look at the rules applied in other countries before deciding how to regulate them.

In this year's annual budget, the government has said 

it will tax profits made through cryptocurrency investments at 30%,

But the country has not yet given the measure legal status.