India's Tax Department Echoes Reserve Bank's Concerns on Crypto
India's Tax Department has expressed alignment with the Reserve Bank of India's (RBI) concerns regarding cryptocurrencies, emphasizing the need for regulatory measures. The department highlighted issues such as tax evasion and the potential for cryptocurrencies to facilitate illegal activities. Officials are advocating for a comprehensive framework to address these challenges and ensure compliance. This stance reflects growing apprehension among Indian authorities about the implications of cryptocurrency on the financial system. The discussions are part of ongoing efforts to regulate the burgeoning crypto market in India.
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