India Considers Stricter Crypto Regulations Amid Parliamentary Panel Review

The Indian government is considering stricter regulations on cryptocurrency transactions as a parliamentary panel prepares to submit a report on the country's digital asset rules.

The panel has spent over a year examining the crypto sector, including regulation, transaction monitoring, and the legal status of digital assets.

One of the recommendations under consideration is a stronger system for monitoring cryptocurrency transactions, which could involve deploying newer technological tools to track the movement of digital assets across wallets, exchanges, and other platforms.

India already requires crypto platforms to follow anti-money laundering requirements and has issued non-compliance notices to 15 Virtual Digital Asset Service Providers under the Prevention of Money Laundering Act.