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India’s Crypto Tax Crackdown | Bitcoin and Crypto News
Description
India’s tax authorities are sounding the alarm as over 645,000 crypto traders dodge reporting their gains—less than a quarter of the total—creating a massive revenue gap and exposing the global struggle to tax digital assets. With offshore exchanges, private wallets, and peer-to-peer trades complicating tracking, India’s push to regulate crypto intensifies, even as the RBI considers outright prohibition. Meanwhile, Israel’s voluntary disclosure program fizzled with just a few hundred responses, hinting that anonymity—or lack thereof—may be deterring compliance. The digital asset revolution is reshaping tax enforcement worldwide, where technology empowers users but leaves regulators scrambling.
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