Crypto

Crypto exchanges seek comprehensive regulation

FILE – An advertisement for Bitcoin cryptocurrency is displayed on a street in Hong Kong, on Feb. 17, 2022.

Synopsis

Industry leaders said clear rules would help crypto players set clear operational boundaries and avoid regulatory misinterpretations, which have often led to problems with tax and law enforcement agencies.

Indian cryptocurrency exchanges want the government to put in place a comprehensive regulatory framework to help them protect investors better and combat money laundering and anti-terrorist financing even as they have been racked by ED raids, collapsing asset prices, and dipping volumes.

While Indian lawmakers have put in place an aggressive taxation policy, a proper crypto regulation is still in the works.

Industry leaders said clear rules

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