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Indian Regulators Warn Crypto Transactions Undermine Tax Enforcement

Indian Regulators Warn Crypto Transactions Undermine Tax Enforcement

Author:

Global Cryptocurrency

Published:

2026-01-08 18:16:02

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BTCCSquare news:

Indian financial authorities have raised alarms over cryptocurrency transactions, citing their disruptive impact on tax collection efforts. The Income Tax Department's findings, presented to a parliamentary finance committee, reveal systemic challenges in tracking crypto-related financial flows.

Regulators identified multiple risks associated with VIRTUAL digital assets during interagency discussions. The Central Board of Direct Taxes and Financial Intelligence Unit participated in reviewing a comprehensive study on VDAs, signaling heightened scrutiny of crypto markets.

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