
India's Tax Department Reveals Low Crypto Compliance: Fewer Than 25% of Transactors Report Activity
India's tax department found that fewer than a quarter of the 645,000 crypto transactors reported their activities on tax returns.

India's tax department found that fewer than a quarter of the 645,000 crypto transactors reported their activities on tax returns.

The Reserve Bank of India continues to advocate for a complete ban on cryptocurrencies, citing concerns over tax evasion, according to Reuters.

The Reserve Bank of India is reportedly pushing lawmakers to shield banks from crypto and private stablecoins while allowing regulated tokenization.

Tether's USDT stablecoin is trading at a significant 7% to 10% premium in India, driven by high demand and thin local liquidity.

Tether's USDT stablecoin recently traded at an 8.5% premium in India, double the usual gap, after regulatory raids disrupted its supply.

Prediction market platform Kalshi has added India to its list of 55 restricted jurisdictions after Indian authorities warned VPN providers.

Coinbase has launched direct Indian Rupee deposit and withdrawal options for its users in India, following successful regulatory approvals.

Coinbase has launched direct Indian Rupee bank transfers via IMPS, enabling users in India to easily fund accounts for spot and futures trading.

Coinbase has launched Indian Rupee (INR) support, making its platform fully accessible to retail traders in India's booming cryptocurrency market.