India's central bank and tax department seek crypto curbs amid evasion risks

business-standard.com

India's central bank is calling for stricter curbs on cryptocurrencies, while the tax department warns of evasion risks from offshore trading. Key agencies prefer tighter controls on virtual assets, despite the government delaying a formal policy. Cryptocurrencies have existed in a legal gray area since 2018. India has millions of crypto traders, and authorities are concerned about financial stability risks due to the lack of clear regulations.


With a significance score of 3, this news ranks in the top 10% of today's 31027 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 10,000+ subscribers:


India's central bank and tax department seek crypto curbs amid evasion risks | News Minimalist