Indian Authorities Crack Down on Multiple Crypto Exchanges For Tax Evasion

1

WazirX

Early this year, as crypto usage grew in India, the authorities seemed to be concerned about the rapid pace of acceptance. As a result, it was verified by DGGI in January 2022 that they had seized money from six cryptocurrency exchanges. WazirX, CoinDCX, BuyUCoin, and Unocoin were among the names on the list.

#Cryptocurrencies #Cryptocurrency Exchange #Cryptocurrency Trading 11 social mentions

2

Ethereum

The overall crypto market appeared optimistic on the most prominent cryptocurrencies like bitcoin, ether, and other altcoins, with a global market cap of $2.14T, showing no signs of slowing down. However, authorities and governments in several countries remained skeptical about the use of virtual currency. Another tax evasion case has been discovered by prominent Indian exchanges, which has sparked a divided response from the sector. More than $12.6 million has been confiscated from 11 crypto exchanges in India on tax evasion charges.

#Business & Commerce #Productivity #Sales 162 social mentions