Ahmedabad Crime Branch this month arrested six people in two cybercrime cases, one linked to a cryptocurrency scam alleged to be worth nearly ₹100 crore (~$11M) and another involving counterfeit online deliveries.
MP Raghav Chadha warns that India's heavy crypto taxes, applied without a clear regulatory framework, are driving capital, startups, and users abroad. Lawmakers are renewing calls to legalize virtual digital assets to arrest the outflow.
An Indian national lost about Rs. 70 lakh (roughly $77,300) after falling victim to a Bitcoin-related scam on Telegram. The case highlights ongoing social‑engineering risks on messaging platforms used to target crypto holders.
Monero dropped roughly 20% in the past week and is down 41% from its Jan. 14 all-time high of $797 after India intensified actions targeting privacy coins, outpacing the broader altcoin sell-off.
India’s Enforcement Directorate says it has detained two people linked to the notorious BitConnect crypto scam as part of an ongoing probe.
Major Indian crypto exchanges have called on policymakers to review recent tax measures before the February budget, warning that transaction-level taxes and restrictions on offsetting losses are draining market liquidity.
India's tax and regulatory authorities have tightened KYC rules for crypto onboarding, saying cryptocurrencies and permissionless blockchains undermine effective tax collection. The move is aimed at improving traceability but may raise compliance burdens for exchanges and users.
India’s Financial Intelligence Unit has directed crypto exchanges to require selfie verification and penny-drop bank checks for new users to bolster anti-money laundering and counter-terror financing controls. The move tightens onboarding standards and raises practical and privacy questions for platforms and customers.
India’s tax authorities have flagged enforcement gaps around virtual digital assets ahead of the Union Budget, echoing concerns raised by the Reserve Bank of India. The alignment increases the chance of tougher reporting and compliance measures for crypto businesses and investors.
Forty-nine crypto exchanges have registered with India's Financial Intelligence Unit (FIU-IND) under the country's new anti-money laundering framework, as regulators levy INR 2.8 billion in penalties and warn that offshore platforms will be blocked if they remain non-compliant.