Recently, Indian authorities uncovered ₹29,208 crore in hidden assets, along with 630 crore of concealed crypto income through tax audits and search operations. This discovery has brought to light massive crypto tax evasion in the country. In response, the Indian federal government is in the process of formulating a new crypto policy paper for 2025.
India’s Evolving Crypto Regulatory Landscape
The upcoming crypto policy is expected to introduce a more balanced approach to taxes and regulations in the crypto sector. As authorities intensify efforts to ensure tax compliance and prepare for policy changes, the Indian crypto market is facing heightened scrutiny and adapting to evolving regulatory landscapes.
This development underscores the growing importance of regulatory clarity and compliance in the Indian crypto industry, with stakeholders closely monitoring the government’s actions and policies.
Expert Commentary
According to Sam Boolman, ChainIntel’s lead analyst, the uncovering of hidden assets and significant crypto tax evasion in India highlights the urgent need for robust regulatory frameworks and enforcement mechanisms in the crypto space. The government’s forthcoming policy paper for 2025 will likely set the tone for future regulations, impacting market participants and investors.
Sam further emphasizes the importance of transparency and accountability in the crypto sector, urging industry players to proactively engage with regulators to establish a conducive environment for growth and innovation.
As India navigates these regulatory challenges, market participants will need to stay informed and compliant to mitigate risks and ensure the long-term sustainability of the crypto ecosystem in the country.
