No relief: Airdropped LUNA 2.0 tokens might be taxable in India at 30%
After the crash of the LUNA and UST tokens, the project was rebranded to Luna Classic while a new chain was created whose token was LUNA 2.0. The people who owned LUNA tokens before and after the crash were provided with LUNA 2.0 tokens. These airdropped LUNA 2.0 tokens are also taxable in India, according to a report from Bloomberg.
Taxes on LUNA 2.0 in India?
The government of India has no plans to go slow on taxation on cryptocurrencies as it ranks digital assets in the same category as gambling, race betting, and other similar forms of profits. Hence, the people who were airdropped LUNA 2.0 tokens in their wallets will have to pay a tax of 30% on their tokens.It is important to note that the government of India introduced a 30% tax on crypto profits and 1% TDS on all transactions related to the same. As a result, a person receiving income in Bitcoin will be taxed at 30%. Currently, there are no directions as to how airdrops are taxed, but Jay Sayta, a technology and gaming lawyer, and Manhar Garegrat, executive director of policy at crypto exchange CoinDCX, believe that airdrops will be taxed at the same rate as cryptocurrencies, i.e., 30%.
According to Rajagopal Menon, vice president at WazirX, an Indian crypto exchange owned by Binance, 160,000 investors held LUNA on the exchange on May 9, and by May 15, the number grew by 77% in India. The number of UST holders remains unclear.
Worst-case scenario
Meyyappan Nagappan, leader, digital tax at Nishith Desai Associates, pointed out the worst-case scenario for this situation for LUNA 2.0 holders in the nation, wherein the taxes on LUNA 2.0 might prove harmful for the holders."There could be a scenario where people have received tokens above INR50,000, and if it's treated as a gift, you'll have to pay taxes on it, but by the time they sell it, if the price falls, then you'll actually realize lesser money, and you may actually go more out of pocket in paying taxes than what you recover, and that is the worst-case scenario for them as Luna 2.0 was actually issued to compensate."
Continue reading by joining Cryptonary Pro
$997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
3X Value Guarantee - If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
3X Value Guarantee
If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the 3X Value Guarantee work?
We stand behind the value of our research. If the documented upside from our published research during your 12-month membership does not exceed three times (3X) the annual subscription cost, you can request a full refund. Historical context: In every completed market cycle since 2017, cumulative documented upside has exceeded 10X this threshold.
Recommended from Cryptonary
