India’s Central Bank Reaffirms Push for Crypto Ban
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