India is tightening its grip on cryptocurrency taxation, introducing harsh penalties for undisclosed gains.
Under newly proposed amendments, digital assets will be classified alongside other taxable holdings, allowing authorities to impose retrospective assessments on undeclared profits. The policy, part of the Union Budget 2025, mandates that exchanges report transactions and subjects traders to backdated tax liabilities.
The crackdown follows investigations revealing nearly $97 million in unpaid taxes from crypto platforms, with Binance also facing scrutiny. Authorities may now impose penalties as high as 70% on earnings hidden from tax officials for up to four years.
Regulatory pressure has already reshaped the market, with Bybit suspending operations in India while seeking compliance approval. Meanwhile, similar enforcement is emerging globally.
The U.S. IRS will soon require exchanges to disclose crypto transactions, a move that has sparked legal challenges from industry groups opposing expanded surveillance of decentralized platforms.
As governments ramp up oversight, crypto investors may seek alternative trading avenues to navigate increasingly restrictive tax regimes.
Coinbase has emerged as the best-performing stock in the S&P 500 for June, climbing 43% amid a surge of bullish momentum driven by regulatory clarity, product innovation, and deeper institutional interest in crypto.
Coinbase CEO Brian Armstrong has spotlighted a significant acceleration in institutional crypto adoption, driven largely by the surging popularity of exchange-traded funds and increased use of Coinbase Prime among major corporations.
The latest market turbulence, fueled by geopolitical tensions and investor fear, offered a textbook case of how sentiment swings and whale behavior shape crypto price action.
Jefferies chief market strategist David Zervos believes an upcoming power shift at the Federal Reserve could benefit U.S. equity markets.