-
Feb 06, 2026
-
Crypto assets ‘unregulated in India’, I-T Dept takes action in tax evasion cases: What it means for crypto holders
The government has once again made it clear that crypto assets remain unregulated in India, but that does not mean crypto investors are outside the tax and enforcement net.
In a written reply in Parliament, the Finance Ministry said that while the government does not collect data on crypto holdings, tax evasion and illegal use of crypto are being actively tracked and acted upon by multiple agencies.
Replying to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said crypto assets or virtual digital assets (VDAs), including NFTs, are currently unregulated. “However, notwithstanding this, the Government has brought the sector under the Financial Intelligence Unit’s regulatory ambit for anti-money laundering and combating the financing of terrorism,” he said.
|