Reserve Bank of India: Pushes Crypto Ban
Reserve Bank of India demands crypto prohibition, blocking banks from all exposure as tax officials flag evasion with 39 million investors holding $2.1 billion.
SourceAnalysis
Reserve Bank of India demands policies leaning toward prohibition and wants every bank plus financial institution barred from holding, trading or gaining exposure to crypto assets.
India's Income Tax Department supports the move, citing offshore exchange flows that evade tracking and reporting. Less than 25% of the 645,000 Indians who transacted crypto in 2023 filed returns, while 39 million investors currently hold $2.1 billion in digital assets.
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