India Eyes Tighter Crypto Monitoring Over Broader Regulations

The Indian government is considering strengthening crypto monitoring and blockchain surveillance in the country.

A Parliamentary Standing Committee on Finance is working on recommendations to improve transaction tracking, strengthen blockchain surveillance, and increase transparency across the crypto system.

According to reports, better blockchain-tracking tools could help authorities follow transactions across networks and verify where funds move. The Financial Intelligence Unit (FIU) can already track crypto activity, but the committee states that the country needs more advanced tools to connect transaction records across multiple chains.

The potential implementation of the proposed monitoring measures could bring crypto exchanges under scrutiny, mandating them to tighten their KYC policies, keep transaction records, and enhance reporting of suspicious activity to authorities.