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The post India’s Central Bank Reaffirms Push for Crypto Ban appeared on BitcoinEthereumNews.com. India’s central bank renewed support for a crypto ban to safeguard financial stability. Tax officials said offshore exchanges and private wallets complicate crypto tax enforcement. Nearly 39 million Indians held about $2.1 billion in crypto despite regulatory uncertainty. India’s central bank has renewed its support for a crypto policy that leans toward prohibition. At the same time, the country’s tax authorities noted that offshore trading platforms and private wallets are making it harder to track crypto transactions and enforce tax compliance. According to internal government documents, several Indian agencies favor tighter restrictions on virtual digital assets. However, the government has yet to adopt a formal policy to regulate or ban cryptocurrencies. RBI Wants Crypto Kept Outside Financial System The Reserve Bank of India (RBI) reiterated in internal documents from May and June th
Read full articleIndia's crypto ban push could stifle innovation, drive underground markets, and challenge legal frameworks, impacting global crypto dynamics. The post Nearly 40 million investors could face crypto ban as India’s central bank pushes for prohibition appeared first on Crypto Briefing.
The post India Crypto Tax Filings Lagged Trading Activity: Reuters appeared on BitcoinEthereumNews.com. India’s tax department reportedly found widespread gaps in crypto tax reporting, warning that offshore exchanges, private wallets and peer-to-peer (P2P) trades are making crypto activity harder to track. Reuters on Wednesday reported government documents showed that fewer than a quarter of 645,000 individuals who made crypto transactions in the year ending in March 2023 reported the trades on their tax returns. The department also reportedly estimated that India had about 39 million crypto traders holding over $2.1 billion in crypto at the end of May. The findings add a tax-enforcement factor to the country’s long-running digital asset policy debate, moving the issue beyond the central bank’s financial-stability concerns and into questions on offshore trading and recoverable tax revenue. India was ranked first in Chainalysis’ 2025 Global Crypto Adoption Index. The report comes days
The post India’s Central Bank Renews Push for Crypto Ban: Report appeared on BitcoinEthereumNews.com. India’s central bank has again backed a tougher stance on crypto, while tax officials warned that offshore trading and private wallets are making enforcement harder. The Reserve Bank of India (RBI) has reiterated its support for a crypto policy, which is “leaning towards prohibition,” according to internal government documents reviewed by Reuters. They show that the institution continues to be concerned about financial stability, monetary sovereignty, and the role of privately issued stablecoins. RBI Wants Crypto Outside Regulated Finance According to the report, the RBI said that banks and financial institutions should be prohibited from holding, trading, or gaining any exposure to cryptocurrencies and to privately issued stablecoins (such as USDT and USDC). The bank also considers a prohibition a means of keeping digital assets outside the regulated financial system and reducing f
India's central bank has again backed a tougher stance on crypto, while tax officials warned that offshore trading and private wallets are making enforcement harder.
The post Reserve Bank of India (RBI) still favors crypto prohibition amid tax evasion fears appeared on BitcoinEthereumNews.com. Tax authorities, meanwhile, are concerned about widespread underreporting. In the financial year ended March 2023, fewer than a quarter of the 645,000 individuals who transacted in crypto actually declared those gains on their tax returns. Transactions executed on offshore exchanges and peer-to-peer platforms, especially those denominated in rupees, remain difficult to track, trace and tax. Indian crypto investors have been operating in a regulatory grey zone since the Supreme Court struck down the RBI’s 2018 ban. It is neither outright illegal nor clearly regulated. A 2021 draft bill to ban private cryptocurrencies was never presented and policy discussions have been repeatedly delayed. While the government has spoken of balancing innovation with risk management, the latest internal documents suggest key agencies are still not ready to embrace digital assets
RBI submission cites 54 FIU-registered providers and 3.93 crore users, as stablecoin market cap nears $311B. India’s path tightens. Practical moves founders can take now.
The new stock donation pathway could significantly boost US equity markets but poses risks due to market volatility and regulatory uncertainty. The post US Treasury opens door for stock donations to TrumpAccounts, creating new tax-advantaged path for children’s savings appeared first on Crypto Briefing.
Conio’s MiCA approval signals a pivot to bank‑backed crypto custody as EU licensing tightens; 231 CASPs span 30 markets and Binance faces a reported EU setback.
